Description
We are proud to present a fully-repositioned and stabilized 23-unit investment opportunity. This fully rehabbed apartment complex has reset the CAPEX cycle for the next 5-10 years. With 90% of all units are at Current-Market-Rates and which will allow full-upside benefit with AB1482 and not be hindered by low rental rates. The layout consist of 12-Units of 2BD/2BA and 11-Units of 2/1 each with their own Garage.This 6% CAP is calculated with a 35% Expense Ratio and plenty of upside to come. This is a great fit for your 1031 Exchange situation for anyone who wants to upgrade in Asset Class, with low CAPEX forecasted, 80% Newly qualified tenants at Market Rate, and NO COVID Defaults. With New Security Gates with "Keyfobs" entry and Camera & Alarm System. New Rod-Iron Trash-Bin Enclosure and New Decomposed-Granite Landscaping for curb appeal and Safety. On-site property manager's office and Coin Laundry all make up an amazing opportunity for income and growth.
Details
| MLS# | IV20231644 |
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| Listing Type | For Sale |
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| Sub-Type | Resale |
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| Status | Pending |
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| Year | 1987 |
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| Days On Site | 113 |
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Features
| Date | Sales | Avg $ Per SqFt | Min Sale Price | Max Sale Price | Med Sale Price |
|---|
| Date: Dec 2020 | Sales: 2 | Avg $ Per SqFt: $84.53 | Min Sale Price: $1,100 | Max Sale Price: $330,000 | Med Sale Price: $165,550 |
| Date: Nov 2020 | Sales: 10 | Avg $ Per SqFt: $158.19 | Min Sale Price: $20,000 | Max Sale Price: $400,000 | Med Sale Price: $282,250 |
| Date: Oct 2020 | Sales: 31 | Avg $ Per SqFt: $192.34 | Min Sale Price: $1,100 | Max Sale Price: $535,000 | Med Sale Price: $330,000 |
| Date: Sep 2020 | Sales: 27 | Avg $ Per SqFt: $192.35 | Min Sale Price: $900 | Max Sale Price: $535,000 | Med Sale Price: $300,000 |
| Date: Aug 2020 | Sales: 45 | Avg $ Per SqFt: $208.97 | Min Sale Price: $1,300 | Max Sale Price: $650,000 | Med Sale Price: $335,000 |
| Date: Jul 2020 | Sales: 49 | Avg $ Per SqFt: $235.89 | Min Sale Price: $925 | Max Sale Price: $580,000 | Med Sale Price: $332,000 |
| Date: Jun 2020 | Sales: 42 | Avg $ Per SqFt: $210.54 | Min Sale Price: $900 | Max Sale Price: $462,000 | Med Sale Price: $340,000 |
| Date: May 2020 | Sales: 48 | Avg $ Per SqFt: $195.26 | Min Sale Price: $1,195 | Max Sale Price: $620,100 | Med Sale Price: $315,000 |
| Date: Apr 2020 | Sales: 55 | Avg $ Per SqFt: $202.77 | Min Sale Price: $1,050 | Max Sale Price: $751,000 | Med Sale Price: $285,000 |
| Date: Mar 2020 | Sales: 118 | Avg $ Per SqFt: $211.58 | Min Sale Price: $1,295 | Max Sale Price: $650,000 | Med Sale Price: $315,000 |
| Dec 2020 |
|---|
| Sales: | 2 |
| Avg $ Per SqFt: | $84.53 |
| Min Sale Price: | $1,100 |
| Max Sale Price: | $330,000 |
| Med Sale Price: | $165,550 |
| Nov 2020 |
|---|
| Sales: | 10 |
| Avg $ Per SqFt: | $158.19 |
| Min Sale Price: | $20,000 |
| Max Sale Price: | $400,000 |
| Med Sale Price: | $282,250 |
| Oct 2020 |
|---|
| Sales: | 31 |
| Avg $ Per SqFt: | $192.34 |
| Min Sale Price: | $1,100 |
| Max Sale Price: | $535,000 |
| Med Sale Price: | $330,000 |
| Sep 2020 |
|---|
| Sales: | 27 |
| Avg $ Per SqFt: | $192.35 |
| Min Sale Price: | $900 |
| Max Sale Price: | $535,000 |
| Med Sale Price: | $300,000 |
| Aug 2020 |
|---|
| Sales: | 45 |
| Avg $ Per SqFt: | $208.97 |
| Min Sale Price: | $1,300 |
| Max Sale Price: | $650,000 |
| Med Sale Price: | $335,000 |
| Jul 2020 |
|---|
| Sales: | 49 |
| Avg $ Per SqFt: | $235.89 |
| Min Sale Price: | $925 |
| Max Sale Price: | $580,000 |
| Med Sale Price: | $332,000 |
| Jun 2020 |
|---|
| Sales: | 42 |
| Avg $ Per SqFt: | $210.54 |
| Min Sale Price: | $900 |
| Max Sale Price: | $462,000 |
| Med Sale Price: | $340,000 |
| May 2020 |
|---|
| Sales: | 48 |
| Avg $ Per SqFt: | $195.26 |
| Min Sale Price: | $1,195 |
| Max Sale Price: | $620,100 |
| Med Sale Price: | $315,000 |
| Apr 2020 |
|---|
| Sales: | 55 |
| Avg $ Per SqFt: | $202.77 |
| Min Sale Price: | $1,050 |
| Max Sale Price: | $751,000 |
| Med Sale Price: | $285,000 |
| Mar 2020 |
|---|
| Sales: | 118 |
| Avg $ Per SqFt: | $211.58 |
| Min Sale Price: | $1,295 |
| Max Sale Price: | $650,000 |
| Med Sale Price: | $315,000 |
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MLS Number: IV20231644