Sold for $3,710,000 on March 14, 2025
Rare opportunity to acquire a 20 unit residential income property near the beach in South County. The offering consists of an older home which encompasses a 3 bedroom, 1 bathroom unit and a 2 bedroom, 1 bathroom unit. There are three other buildings built in 1986 which have six 1 bedroom, 1 bathroom units. Extra income is generated by onsite laundry facilities as well as 13 garage spaces which are all rented separately. The garage units consists of two 2-car garages and eleven 1-car garages. There is a common trash area and 12 parking spots. Each of the apartments has it's own gas and electric meter. The property is under professional management and has had a history of high occupancy. The seller states that the garage roof was replaced in 2013, apartment roofs in 2015 and the house roof in 2017. Fencing was updated in 2018 and rain gutters were repaired in 2016.
Sold in 18 days at 95.1% of asking
Listed by Dennis Allan with Allan Real Estate Investments (805) 473-7500
Property Type
Apartment
Status
Closed
Sold On
March 14, 2025
MLS Number
PI24254824
Year Built
1986
Lot Size
0.74 acres
