Residential Income Details
Proforma NOI is appr. $125,016 at a 6.2% CAP Rate! This is a great opportunity to own a well maintained and professionally managed 16-unit multifamily apartment building within walking distance of the lake. The property has a new $65K roof, new $13K parking lots, and $15K exterior paint job, and new landscaping! The Mountain Ridge Apartments have an onsite laundry room for additional income. The property also comes with 16 assigned single car garages, 8 carports and 8 open parking spaces. Lake Elsinore is perfectly situated for commuters between Orange County, San Diego and the Inland Empire. Please see the drone footage link in the MLS for a detailed aerial view. Also see all the attached financial supplements (actual cash flows and rent rolls) in the MLS.
|Number of Units||16|
|Listing Brokerage||Pay It Forward Realty|
|Listing Agent||Brad Petersen|
|Listing Agent BRE #||01724042|
|Parking||Assigned,Carport,Covered Parking,Driveway - Asphalt,Garage|
Based on information from California Regional Multiple Listing Service, Inc. as of Friday, June 23, 2017.
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.
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