2373- 2393 E Springville Avenue new

Porterville,CA 93257

$ 1200000

18 Beds

15 Baths

7500 SqFt


Key Details

Property Type Multi-Family

Sub Type 5+ Units

Listing Status Active

Purchase Type For Sale

Square Footage 7,500 sqft

Price per Sqft $160

MLS Listing ID 234045

Bedrooms 18

Lot Size 0.874 Acres

Property Sub-Type 5+ Units

Property Description

Great investment opportunity! Well maintained 10 unit apartment complex, comprised of 5 separate duplexes on one APN at approximately 0.87 acres. There are five - 2 bedroom, 2 bath units, four - 2 bedroom, 1 bath units and one - 1 bedroom, 1 bath unit. One of the duplexes was built first and then at a much later time the other four duplexes were built. Four of the duplexes have brand new roofs and all five of the duplexes will have new paint on the exterior (2 exteriors have been painted already). Seller has been raising rents but is still low on several of them. Included in the income is $500 for utility reimbursement. The current CAP Rate is app. 6.47%, but the potential CAP Rate could be much higher with increased rents, which makes this a very good investment now as well as in the future. Make this the investment opportunity that you have been waiting for!

Location

State CA

County Tulare

Interior

Heating Forced Air,Wall Furnace

Cooling Central Air,Evaporative Cooling

Exterior

Utilities Available Electricity Connected,Natural Gas Connected,Sewer Connected,Water Connected

View Y/N N

Roof Type Composition

Building

Story 1

Sewer Private Sewer

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