Residential Income Details
Current CAP rate at 5.55% and ProForma CAP at 6.48% with a current NOI of $110,683! Very well priced at $90,681 per unit. This is a great opportunity to own two well maintained and professionally managed multifamily apartment buildings with a total of 22 units within walking distance of the lake and a park. This is a package deal consisting of 2 separate properties with 5 APN' s sold together. The 17586 and 17596 Grand Building has an onsite laundry room with owned machines that both buildings share for additional income. The Grand Apartments consist of 8 units with 7 studios and a single home consisting of a 3 bed/2 + an office. The 32986 Blackwell Apartments located across the street from the Grand Apartments consist of 14 studio units with tile floors and custom paint interiors making for very low turnover costs. Lake Elsinore is perfectly situated for commuters between Orange County, San Diego and the Inland Empire. Also see all the attached financial supplements (actual cash flows and rent rolls).
|Number of Units||22|
|Status||Active Under Contract|
|Listing Brokerage||Pay It Forward Realty|
|Listing Agent||Brad Petersen|
|Listing Agent BRE #||01724042|
Based on information from California Regional Multiple Listing Service, Inc. as of Tuesday, September 18, 2018.
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