$995,000
$995,000
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2,496 SqFt
SOLD DATE : 07/12/2024
Key Details
Sold Price $995,000
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
Square Footage 2,496 sqft
Price per Sqft $398
Subdivision South East Lmpc(52)
MLS Listing ID PT24087831
Sold Date 07/12/24
HOA Y/N No
Year Built 1960
Lot Size 6,969 Sqft
Acres 0.16
Property Description
Discover a remarkable investment opportunity with this fully remodeled 4-unit multifamily property located in the heart of Lompoc, CA. Live in one unit while the others generate income! Investment Highlights:
Extensively renovated with modern finishes, including new kitchens, bathrooms, bedrooms, as well as new exterior and interior paint.
Efficient unit layout with appealing floor plans and great floor-to-ceiling height.
Includes 3 new dryers and 2 washers, enhancing tenant convenience.
Tenants are responsible for electricity, gas, sewer, and trash expenses, minimizing operating costs for the owner.
This property presents an attractive 6.6% CAP rate with a pro forma CAP rate of 8%, showcasing its potential for significant income growth.
Square Footage: 2,496
Lot Size: 6,970 SF
Unit Composition: 3 units with 2 beds & 1 bath each (672 SF each) and 1 unit with 1 bed & 1 bath (480 SF)
Current Rental Income: $7,950/month
Future Rental Income (Post June 1, 2024): $8,521/month
Parking: 4 spaces
Year Built: 1960, Renovated in 2023
Location Benefits:
Situated in Lompoc, CA, a city known for its thriving economy and significant growth. Close to notable economic drivers such as the Trident Missile Program and Vandenberg Space Force Base. Supported by economic development initiatives and the Lompoc Valley Chamber of Commerce, aiming to attract businesses and create job opportunities. This property is a perfect match for investors seeking to capitalize on Lompoc's growing market while enjoying the benefits of a fully remodeled, turnkey investment. With its strategic location, modern amenities, and strong income potential, this multifamily opportunity is poised to be a valuable addition to any investment portfolio.
Location
State CA
County Santa Barbara
Area Lomp - Lompoc
Rooms
Ensuite Laundry Common Area
Interior
Laundry Location Common Area
Cooling Wall/Window Unit(s)
Fireplace No
Laundry Common Area
Exterior
Pool None
Community Features Sidewalks
View Y/N No
View None
Roof Type Shingle
Private Pool No
Building
Lot Description Front Yard, Lawn, Landscaped, Yard
Story 1
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 091021023
Acceptable Financing Cash, Cash to New Loan, Conventional
Listing Terms Cash, Cash to New Loan, Conventional
Special Listing Condition Standard
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