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Key Details
Sold Price $5,250,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID V1-23653
Sold Date 07/09/24
HOA Y/N No
Year Built 1960
Lot Size 0.800 Acres
Property Description
Rare opportunity to acquire a well maintained 30-unit complex in Santa Barbara county for a 6.0% Cap rate on current rents!701-717 North F Street is a well maintained 30-unit apartment building located in Lompoc featuring 5 detached buildings on 5parcels totaling 34,850 SF of land. Built in 1960 the building has had several meaningful upgrades within the last couple yearsincluding new roofs and gutters, fresh exterior paint, fencing and secure gates along with tankless water heaters (3 in eachbuilding). Windows are dual paned. Kitchens have granite countertops. Second story units feature exposed beam ceilings.Maple trees along with drought tolerant landscape provide shade and inviting curb appeal. Convenient location for tenantswithin close proximity to Lompoc High School, shopping and buslines. Separately metered for electricity and gas. Assigneduncovered parking. Excellent investment offering solid in place income with additional 15% upside in rental rates. Property isin an opportunity zone.
Location
State CA
County Santa Barbara
Area Lomp - Lompoc
Interior
Cooling None
Fireplaces Type None
Fireplace No
Appliance Gas Range
Laundry None
Exterior
Fence None
Pool None
Community Features Urban
View Y/N No
View None
Total Parking Spaces 30
Private Pool No
Building
Lot Description Sprinklers None
Others
Senior Community Yes
Tax ID 087092006
Acceptable Financing Conventional
Listing Terms Conventional
Financing Cash
Special Listing Condition Standard
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Bought with Andrew Adler • Century 21 Real Estate Alliance