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.
Property Type :
Residential Income
Subdivision :
Fallbrook
County :
Ventura
Style :
Residential Income
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ByOwner last updated this listing 05/06/2024 @ 08:10
MLS: V1-20740
LISTED BY: Craig Lieberman, Apartment Investment Specialis
SOURCE: CRMLS
Buyer Agency Compensation: 2%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.
