Purchased / Self Managed
I bought this property and value-added to it, renovating the interiors and exteriors. Then I sold it at an attractive cap rate for a great return and exchanged into another building.
7.1% Cap Rate + Upside.
• Two Bedroom, One Bath Residences with Landmark General Store.
• 19 Low density homes with excellent parking ratios.
• Income $313,680.
• Expenses $58,170.
• Net Operating Income $255,510 (including vacancy).
• Land development opportunity with approximately 15,000 sf of build-able
area, zoned A-2 (possible 30,000sf of interiors)
• 14 units completely renovated.
• Extensive common area upgrades, all new roofs & much more!
• Fee Simple
• 37,500 square foot lot
• 2007 actual expenses were $41,333
• General Store building with 4 units
• 2- Two bedrooms
• 1 Three-bedroom
• 1 One bedroom
• 14 Two-bedroom walk-up residences
• 1 Two-bedroom house
• 31 Parking spaces
• Renovations from 2006 to present
• New plumbing and electrical wiring
• Rents slightly lower than market
• Stabilized property
Simplifying the real estate process and making your life easier while acheiving your investment goals is easy when you hire the right professional. From opening escrow to signing, and everything in between, I am guided by a spirit of enterprise and a strong work ethic, which means I embrace the challenges of every deal and relentlessly find proactive solutions for my clients.
Call or email me today to find out if I can help you achieve your investment goals.
|264 California Avenue|