Apartment Building For Sale In California By Apartmentbuildingvalues.com

  • December 2019
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Exclusively Represented By...Francis X. Lennarz, Investment Advisor, and Donna Bingham RE/MAX of Valencia - Commercial Division - 1.661.406.4682

14-Unit Multi-Family Investment Offering Subject Property Address VIP Apartments 536 N. U Street Lompoc, CA 93436 Location Highlights Offering Summary Great rental pocket in the Lompoc area. Located near shopping, transportation, walking distance to public schools and employment opportunities. Investment Highlights No rent control! Great curb appeal showing pride of ownership! Great opportunity for an income property investment with low maintenance/upkeep Recently Renovated! 2-story building with stairway access 1031 Tax Exchange Opportunity!

Price: Down Payment: Units: Price Per Unit: Rentable SF: Price Per SF: Year Built: Lot Size: ACTUAL Cap Rate: ACTUAL GRM: ACTUAL Cash Flow w/o Debt Service: Rental Income PSF: Average Rent Per Unit:

$1,295,000 100% 14 $92,500 8,700 $149 (R) 2007 13,969 7.86% 10.28 $101,757 $14.48 $750

RE/MAX of Valencia, 25101 The Old Road, Santa Clarita, CA 91381 Cellular: 1.661.406.4682 Email: [email protected] Web: LennarzCommercial.com

Subject Property Address: 536 N. U Street, Lompoc, CA 93436 Unit Mix

Investment Overview Unit Type The "VIP Apartments" are a 14-Unit Multi-Family investment property located in the City of Lompoc in the County of Santa Barbara. Situated in a nice rental pocket area minutes away from local schools, shopping, local employment and surrounding area employment opportunities, including Vandenberg Air Force Base. The property consists of 4 units that are 2 bedroom, 1 bath, and 10 units that are 1 bedroom, 1 bath residences. The property was recently renovated in 2007. The structure is approximately 8,700 square feet and the lot size is approximately 13,939 square feet. This property has great curb appeal an is in great condition. It has been recently renovated and provides an investor with an excellent opportunity to acquire a stabilized asset for future investment growth and capital accumulation.

# of Units Rent/Unit

2 Bed/1 Bath 1 Bed/1 Bath Total Units:

4 10 14

Average Rent Per Unit:

$875 $700

Monthly

Annual

$3,500 $42,000 $7,000 $84,000 $10,500 $126,000

$750

Operating Data Income Summary (Annual): GSI: Other Income: POI: less V&C 5% EGI: less Expenses: NOI:

$126,000 $4,800 $130,800 $6,300 $119,700 $17,943 $101,757

Expense Summary (Annual): Total Expenses: % of EGI: Expenses Per Unit: Expenses Per SF:

$27,181 22.71% $1,942 $3.12

Exclusively Represented By...Francis X. Lennarz, Investment Advisor, & Donna Bingham, RE/MAX Commercial Cellular: 1.661.406.4682

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