Pleased to present 202 E. Walnut Street, a garden style, 10-unit apartment complex overflowing with curb appeal, consisting of (9) Large 1-Bedroom units and (1) Studio averaging 763 SF each. Beautifully maintained with lush landscaping and a heavily upgraded property, the units are situated on a sizeable corner lot of a quiet, treelined street. Residents of the property enjoy the proximity to the Historic Downtown District (walking distance) known for its vibrant artistic & cultural scene, trendy dining establishments and various other entertainment related venues. All units of the property have been meticulously cared for and fully upgraded with washer and dryer machines included in each unit, all new kitchens with stainless steel appliance, interior paint, fixture throughout the units, and dual pane windows. Priced at a 6.3% CAP rate on the current rents makes this investment one the most attractive multifamily investments in the entire county. A rare opportunity to take advantage of positive leverage, allowing the investor to place a smaller down payment and increase the cash-on-cash return. Additionally, current ownership is in the process of obtaining approval for (2) ADU (Accessory Dwelling Units) which is expected to receive planning approval shortly. The additional income generate from this unit is expected to increase gross income by 23%.
| Date | Details | Change |
|---|---|---|
| Status Changed from Pending to Closed | – | |
| Status Changed from Active to Pending | – |
Based on information from California Regional Multiple Listing Service, Inc. as of April 27th, 2024 at 12:20pm PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
