Description
14 Units Built in 1964 Property Remodeled and Re- Branded to Student Housing in 2022. 8 of the 14 Units have Been Completely Remodeled. Mix of (2) 1+1 and (12) 2+1. The property will come with Permits to Build 3 ADU's (2) 2+2 ADUs, (1) 5+5 ADU. 11,734 Gross Square Feet (pre-ADU construction) on a 10,700 Square Foot Lot. Individually Metered for Gas & Electric. On Site Laundry. The ProForma Cap Rate is 9.32% after the ADU Construction and the Renovation of the final 6 existing units with legacy tenants. With the roof having been replaced, the plumbing upgraded and the soft-story retrofit completed - most capital for a new investor will be spent toward the ADU's and the 6 unrenovated units.
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26BEDS
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0.25ACRES
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0BATHS
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01/2 BATHS
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11,734SQFT
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$490$/SQFT
School Ratings & Info
Description
14 Units Built in 1964 Property Remodeled and Re- Branded to Student Housing in 2022. 8 of the 14 Units have Been Completely Remodeled. Mix of (2) 1+1 and (12) 2+1. The property will come with Permits to Build 3 ADU's (2) 2+2 ADUs, (1) 5+5 ADU. 11,734 Gross Square Feet (pre-ADU construction) on a 10,700 Square Foot Lot. Individually Metered for Gas & Electric. On Site Laundry. The ProForma Cap Rate is 9.32% after the ADU Construction and the Renovation of the final 6 existing units with legacy tenants. With the roof having been replaced, the plumbing upgraded and the soft-story retrofit completed - most capital for a new investor will be spent toward the ADU's and the 6 unrenovated units.
Based on information from California Regional Multiple Listing Service, Inc. as of 2023-09-22T12:32:25.023. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Zia Group | eXp Realty. Licensed in the State of California, USA.