Bought with Nicholas Henry • Beachside Partners
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Key Details
Sold Price $2,691,620
Property Type Commercial
Sub Type Other
Listing Status Sold
Purchase Type For Sale
Square Footage 17,295 sqft
Price per Sqft $155
MLS Listing ID CRV1-20740
Sold Date 07/16/24
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1940
Lot Size 0.397 Acres
Property Description
Completely renovated 'inside and out' in 2022, this 5% cap 8-unit property is situated within a gated community that offers its tenant community privacy and security. With its highly desired individual 3 Bedroom cottage-style units that offer laundry hook-ups, this apartment community has been able to generate generous rents of about $2,400/unit. Its gross annual rent of $232,000 on the asking price of $2,895,000 equates to a 12.5 GRM. Specific property updates include all new electrical, plumbing, interior flooring, walls, bathrooms, and kitchens. This property will undoubtedly appeal to those investors seeking a 'turnkey' investment in the strong rental community of Santa Paula.
Location
State CA
County Ventura
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Laundry No Hookups
Exterior
View None
Parking Type None
Building
Lot Description Other
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