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
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.
More Information MLS# 24-1637
Location Info
Country: US
Compass Map: Lompoc
Map Grid: H17
Cross Street: Pine
District: 55 - LOMPOC
Street #: 701
Dir: N
Street Name: F
Street Suffix: Street
State: CA
Postal Code: 93436
County: Santa Barbara
Parcel Number: 087-092-006
Contract Info
Financing: Cash
Buyers Agent $/%: 2
Current Price: $5,250,000
Price: 5200000
Begin Date: 2024-05-21
Status: Closed
Property Information
Year Built: 1960
Apx Lot SqFt: 34850
Recurring Fees: No
Number of Units: 30
Neighborhood/Schools
Elementary School: Other
Junior High School: Other
High School: Other
Owner Info
Deposit: 3
Remarks
Hot Sheet Comment: new
Unit 1
# Units: 30
# Bedrooms: 2
# Baths: 1
# Half Baths: 0
Furnished: N
Rent: 1441
Monthly Total: 41795
Income/Expenses
Total Monthly Income: 41795
Annual Income: 501540
Gross Rent Multiplr: 10.4
Capitalization Rate: 6.0
Zoning
Other: 1
Reports Available
Prelim: 1
NHD: 1
Terms
Conventional: 1
Listing Type
ER: 1
Meters
Sep Meter Wtr: N
Sep Meter Elec: Y
Sep Meter Gas: Yes
Contingent Remarks
SUBJ 2 INSPECT: 1
Status Information
Sold Date: 2024-07-09
Sold Price: $5,250,000
Under Contract Date: 2024-05-28
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
The data relating to real estate for sale on this web site comes from the Internet Data Exchange Program of the Santa Barbara Multiple Listing Service. Real estate listings held by brokerage firms other than the displaying broker(s) are marked with the 'MLS' logo and detailed information about them includes the name of the listing brokers.
All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor displaying broker shall be responsible for any typographical errors, misinformation, or misprints. 2015 Santa Barbara Multiple Listing Service. All rights reserved.
