Residential Income Details
Significant value add opportunity, priced at a 5.11% cap rate comprised of 10 spacious 1 Bed / 1 Bath units averaging 670 SF each. (4) units have undergone "gut" remodels to the studs, including porcelain tile floors, stainless steel appliances, quartz counters, custom cabinets, modern light fixtures, & marble shower tile. A 5th unit will be modernized and put in a condition suitable for a new investor to add finishes of their liking. Exterior improvements include a new roof in 2018, drought tolerant landscaping, custom metal work around the property for improved security & modern exterior paint. Great opportunity for an investor looking for a stable building with a realistic value add component and a 6.03% cap rate at market rents.
|Number of Units||10|
|Listing Brokerage||Nationwide Real Estate Execs|
|Listing Agent||Andrew McAllister|
|Listing Agent BRE #||01946829|
Based on information from California Regional Multiple Listing Service, Inc. as of Sunday, July 1, 2018.
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