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Key Details
Sold Price $3,770,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Mid Center - 1575
MLS Listing ID V0-214034064
Sold Date 01/29/15
HOA Y/N No
Year Built 1963
Lot Size 0.974 Acres
Property Description
Price reduced $75k on 12/1/14. Assumable financing available!--$2.50m loan at 4.5% Interest Only w/ negotiable length term-- Well maintained 28-unit garden style apartment community in midtown Santa Paula w/ (20) 2BD/1BA & (8) 1BD/1BA units. Two palm tree lined 14-unit buildings on separate lots totaling just under 1 acre. 28 carport parking spaces. 2 laundry rooms featuring (6) new sets of washer and dryers bring in generous income. $200k+ in improvements completed June, 2014. Interiors of 10 units upgraded & feature beautiful wood plank laminate flooring in the spacious living rooms. Nice location w/ SFR neighborhood behind property, new manufacturing employer across street and high school less than 1/2 mile away. 9% + upside in rental rates (based on average rents for the area). Available for 10.87 x current gross rents. 9.98 x market rents.
Location
State CA
County Ventura
Area Spl - Santa Paula
Zoning R4
Rooms
Ensuite Laundry LaundryRoom
Interior
Laundry Location LaundryRoom
Flooring Carpet, Laminate
Fireplace No
Laundry LaundryRoom
Exterior
Garage DetachedCarport
Parking Type DetachedCarport
Building
Entry Level Two
Level or Stories Two
Others
Senior Community No
Tax ID 1050044105
Acceptable Financing OwnerMayCarry
Listing Terms OwnerMayCarry
Financing Assumed,SellerFinancing
Special Listing Condition Standard
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Bought with Unknown Agent Conversion • Marcus & Millichap
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