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$ 3,750,000
Est. payment /mo
New
340-352 S Blackstone Street Tulare, CA 93274
28 Beds
15 Baths
17,780 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 17,780 sqft
Price per Sqft $210
MLS Listing ID 244113
Bedrooms 28
Year Built 1961
Lot Size 1.800 Acres
Property Sub-Type Multi Family
Property Description
25 unit apartment complex close to schools, shopping and public transportation. Rents have room for increases and property has undergone renovations in 2024 with previous owner (over $450K in upgrades). New flooring, granite countertops in kitchen/bathroom suites, new dual-paned windows, repainted inside and outside, new electric sub-panels and security systems ahve been installed. On-site laundry can bring in additional revenue (not included in pro-forma). There is a large yard area that is currently used as a shared open space for tenants that can be utilized for construction of 12-14 new units (buyer to verify with City of Tulare). Eight units are upstairs inmain building and remaining units downstairs or in single level buildings. One building is a duplex that contains a 3/1 unit with indoor laundry hook-up and 2 car garage (possibly for in-site manager at reduced rent). With a proposed CAP of 6.35, this gives a nice return and still has upside potential with a few additional cosmetic improvements. Perfect investment for mid-sized investors and for 1031 exchanges. full 25 unit list available, please contact listing agent for remaining units.
Location
State CA
County Tulare
Interior
Heating Wall Furnace
Cooling Ceiling Fan(s), Gas, Separate Meters, Wall/Window Unit(s)
Laundry Common Area
Exterior
Parking Features Asphalt
Garage Spaces 2.0
Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Satellite TV, Sewer Connected, Water Connected
View Y/N N
Roof Type Composition
Building
Story 2
Sewer Public Sewer
Listed by Randy E Tellalian • Randy Tellalian, Broker