701 N F Street, LOMPOC, CA 93436 (MLS# 24-1637)

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701 N F Street, LOMPOC, CA 93436

$5,250,000

Property Type: Res Inc Lot Size (sq. ft.): 34,850 Status: Closed

Current Price: $5,250,000 List Date: 5/21/2024 Last Modified: 9/15/2024

Overview

Description

Well maintained 30-units in Lompoc with in place 6.0% Cap rate on current rents as of June 1. 5 detached buildings (701-717 F ST) on 5 parcels totaling 34,850 SF of land. Built in 1960, the several upgrades completed w/in last couple years inc new roofs and gutters, fresh exterior paint, fencing and secure gates along w/ tankless water heaters (3 in each building). 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. Lompoc High School, shopping and buslines. Sep metered for electricity and gas. Assigneduncovered parking. Excellent investment offering solid in place income with additional 15% upside in rents. Located in an opportunity zone.

Listing Details MLS# 24-1637

Location Info

District: 55 - LOMPOC
Street #: 701
Dir: N
Street Name: F
Street Suffix: Street
State: CA
Country: US
Postal Code: 93436
Compass Map: Lompoc
Map Grid: H17
County: Santa Barbara
Parcel Number: 087-092-006
Cross Street: Pine

Contract Info

Price: 5200000
Financing: Cash
Buyers Agent $/%: 2
Begin Date: 2024-05-21

Status Information

Sold Date: 2024-07-09
Under Contract Date: 2024-05-28

Property Information

Number of Units: 30
Year Built: 1960
Apx Lot SqFt: 34850
Recurring Fees: No

Remarks

Hot Sheet Comment: new

Owner Info

Deposit: 3

More Information

Unit 1

# Units: 30
# Bedrooms: 2
# Baths: Yes
Furnished: N
Rent: 1441
Monthly Total: 41795
# Half Baths: 0

Meters

Sep Meter Wtr: N
Sep Meter Elec: Y
Sep Meter Gas: Yes

Neighborhood/Schools

Elementary School: Other
Junior High School: Other
High School: Other

Income/Expenses

Total Monthly Income: 41795
Annual Income: 501540
Gross Rent Multiplr: 10.4
Capitalization Rate: 6.0

Zoning

Other: Yes

Reports Available

Prelim: Yes
NHD: Yes

Terms

Conventional: Yes

Listing Type

ER: Yes

Contingent Remarks

SUBJ 2 INSPECT: Yes

Property Features

Zoning: Other Reports Available: Prelim; NHD Terms: Conventional Listing Type: ER Contingent Remarks: SUBJ 2 INSPECT

Listing Office: Beachside Partners

Last Updated: September - 15 - 2024

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