1410 Morro Way

  • Lake Elsinore

  • $2,015,000
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Residential Income Details

Description
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.
Essential
MLS #OC17128764
Price$2,015,000
Number of Units16
Sale TypeStandard
Acres0.45
StatusPending
Listing BrokeragePay It Forward Realty
Listing AgentBrad Petersen
Listing Agent BRE #01724042
Interior
FloorCarpet,Tile,Vinyl
CoolingCentral
HeatingForced Air
Exterior
ParkingAssigned,Carport,Covered Parking,Driveway - Asphalt,Garage
Garage Spaces16
ViewLake,Mountain
PoolNone
SpaNone
RoofingComposition
Community
Area241 - Lake Elsinore West
CommunityCurbs,Sidewalks
Address1410 Morro Way
CityLake Elsinore
CountyRiverside
StateCA
ZipCode92530
School

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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. 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.