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$ 1,200,000
Est. payment /mo
New
2373- 2393 E Springville Avenue Porterville, CA 93257
18 Beds
15 Baths
7,500 SqFt
UPDATED:
03/15/2025 12:36 AM
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
Listed by Michael G Brown • Melson Realty, Inc.