Bought with Datashare CR Don't Delete Default Agent • Datashare CR Default Office Don't Delete
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Key Details
Sold Price $995,000
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
Square Footage 2,496 sqft
Price per Sqft $398
MLS Listing ID CRPT24087831
Sold Date 07/12/24
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1960
Lot Size 6,970 Sqft
Property Description
Discover a remarkable investment opportunity with this fully remodeled 4-unit multifamily property located in the heart of Lompoc, CA. Live in one unit while the others generate income! Investment Highlights: Extensively renovated with modern finishes, including new kitchens, bathrooms, bedrooms, as well as new exterior and interior paint. Efficient unit layout with appealing floor plans and great floor-to-ceiling height. Includes 3 new dryers and 2 washers, enhancing tenant convenience. Tenants are responsible for electricity, gas, sewer, and trash expenses, minimizing operating costs for the owner. This property presents an attractive 6.6% CAP rate with a pro forma CAP rate of 8%, showcasing its potential for significant income growth. Square Footage: 2,496 Lot Size: 6,970 SF Unit Composition: 3 units with 2 beds & 1 bath each (672 SF each) and 1 unit with 1 bed & 1 bath (480 SF) Current Rental Income: $7,950/month Future Rental Income (Post June 1, 2024): $8,521/month Parking: 4 spaces Year Built: 1960, Renovated in 2023 Location Benefits: Situated in Lompoc, CA, a city known for its thriving economy and significant growth. Close to notable economic drivers such as the Trident Missile Program and Vandenberg Space Force Base. Supported by economic development initiatives and th
Location
State CA
County Santa Barbara
Interior
Cooling Wall/Window Unit(s)
Fireplace No
Laundry Community Facility
Exterior
View None
Building
Lot Description Other, Front Yard, Landscape Misc
Water Public
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