Commercial Sale Details
**DO NOT OVERLOOK THIS PROPERTY - THIS IS A RARE FIND**
Very palatable purchase price for very strong 6-unit apartment building with upside and easy to manage.
AS-IS, this is over a 7 CAP !!! (Approximately 7.5) AND THIS IS ONLY WITH 5 UNITS OCCUPIED!!!!
The tenant for the last unit will be moving in next month, at which point this will be OVER A 9 CAP !!!!!!!!!!
Only one unit has been remodeled, therefore the other 5 units (83% of the building) can still be improved. Also, the above Cap rates are INCLUDING a building management service that costs just under $3K a year - which means one of two things:
1. You can own a 9+ CAP building COMPLETELY PASSIVELY / LITTLE TO NONE OF YOUR TIME OR ENERGY,
2. Do some improvements if and when you want, OR manage the building yourself, to push OVER A 10 CAP.
It doesn’t take your Uncle Tom with a PHD in finance (or us) to help figure out that this is a screaming deal, especially for California.
Full tour of building upon accepted offer.
Note: All above income, expenses and calculations to be verified by buyer or buyer’s agent.
(If you are a buyer that wishes to have us work with you and write your offer, please let us know and we will promptly contact you + send and review with you all financial reports)
|Price Per SqFt||$61.14|
|Area||CAC - California City|
|Listing Brokerage||Intero Real Estate Services|
|Listing Agent||Fernando Spindola|
|Listing Agent BRE #||01745219|
Based on information from California Regional Multiple Listing Service, Inc. as of Saturday, March 31, 2018.
This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing.
Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS.
Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals.
Information from sources other than the Listing Agent may have been included in the MLS data.
Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources.
The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.