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Key Details
Sold Price $3,150,000
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID PI23223115
Sold Date 03/25/24
Bedrooms 5
HOA Y/N No
Lot Size 1.870 Acres
Property Description
This well-maintained 10-unit townhouse complex is a perfect investment for an investor looking for an asset in a prime location. The property features spacious 2-bedroom apartment homes averaging over 1,200 SF, each with their own private patio and garage. The complex was recently tented and had extensive facia work, exterior painting and roof work completed. Additionally, new roll-up garage doors, many new ranges and water heaters were installed, as well as the parking area resurfaced. All units are separately metered for water, gas and electric, helping to keep owner expenses low. Rents are well below market. Market rents equate to a 5.53% Cap Rate.
This well-maintained 10-unit townhouse complex is a perfect investment for an investor looking for an asset in a prime location. The property features spacious 2-bedroom apartment homes averaging over 1,200 SF, each with their own private patio and garage. The complex was recently tented and had extensive facia work, exterior painting and roof work completed. Additionally, new roll-up garage doors, many new ranges and water heaters were installed, as well as the parking area resurfaced. All units are separately metered for water, gas and electric, helping to keep owner expenses low. Rents are well below market. Market rents equate to a 5.53% Cap Rate.
Location
State CA
County Santa Barbara
Area Santa Maria (93455)
Zoning Public Rec
Interior
Appliance Forced Air Unit
Building
Story 2
Level or Stories 2 Story
Others
Space Rent $2,083
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Bought with Steven Golis • Radius Group Commercial RE