Cash cow with huge upside. Current AS-IS cap rate 5.7%! Property recently undergone extensive remodel, including updated kitchen, bathrooms, floors, hardware, light fixtures, electrical, plumbing, driveways and walkways, and more. Each unit has front and back door access, in-unit laundry hookup, and separate living and bedroom areas (except the studio). Large lot with expansive parking area with repaved concrete, and 6 garage spaces split into 2 X three covered car garages, and room for 2 uncovered spaces. Garages are perfect for ADU conversion. Two billboards are property that can be leased, adding significant income. Small billboard has an offer to lease at $750/mo that is not included in current revenue, and will be leased once lighting is fixed (before close of escrow). Large billboards receives extremely low rent ($200/mo) and could be personally leased at $3k-$4k/mo/side by cutting out the middleman, potentially adding another $6k-$8k per month in revenue (lease expires May '25). Rent roll available upon request. Garage fees included in rent shown ($100/space/mo). Buyer to perform their own due diligence. Property sold as-is, where-is.
Courtesy of , Colin M. Trent Johnson - CA DRE#
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