337 North K St
Lompoc, CA 93436
0.16 acres | #PT24087831
Description
Discover a remarkable investment opportunity with this fully remodeled 4-unit multifamily property located in the heart of Lompoc, CA. Live in one unit while the others generate income! Investment Highlights:
Extensively renovated with modern finishes, including new kitchens, bathrooms, bedrooms, as well as new exterior and interior paint.
Efficient unit layout with appealing floor plans and great floor-to-ceiling height.
Includes 3 new dryers and 2 washers, enhancing tenant convenience.
Tenants are responsible for electricity, gas, sewer, and trash expenses, minimizing operating costs for the owner.
This property presents an attractive 6.6% CAP rate with a pro forma CAP rate of 8%, showcasing its potential for significant income growth.
Square Footage: 2,496
Lot Size: 6,970 SF
Unit Composition: 3 units with 2 beds & 1 bath each (672 SF each) and 1 unit with 1 bed & 1 bath (480 SF)
Current Rental Income: $7,950/month
Future Rental Income (Post June 1, 2024): $8,521/month
Parking: 4 spaces
Year Built: 1960, Renovated in 2023
Location Benefits:
Situated in Lompoc, CA, a city known for its thriving economy and significant growth. Close to notable economic drivers such as the Trident Missile Program and Vandenberg Space Force Base. Supported by economic development initiatives and the Lompoc Valley Chamber of Commerce, aiming to attract businesses and create job opportunities. This property is a perfect match for investors seeking to capitalize on Lompoc's growing market while enjoying the benefits of a fully remodeled, turnkey investment. With its strategic location, modern amenities, and strong income potential, this multifamily opportunity is poised to be a valuable addition to any investment portfolio.
Location
Legal
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Based on information from California Regional Multiple Listing Service, Inc. as of the most recent time synced and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Varinder Kumar (#PT818979)
Listing Office: Coldwell Banker West (#PT87017)
