Offering Actual CAP Rate of 6.50 % / ProForma CAP Rate of 7.17 %. Offering Actual GRM of 9.64, With a ProForma GRM of 9.08. Conservative 5-7 %. Upside in Potential Rental Income. Located Less Than One Block From The St. Mary’s Medical Center. Non-Rent Control Community & Area. Long Term Tenants With Upside in Potential Rental Income. The Apartment is 100 % Occupied & Rental Comparables Illustrate a 99 % Occupancy Area. Turn Key Financeable Asset. The 15771 Kasota Road apartment community is located on the corner lot of Olalee Road and Kasota Road. The thirteen-unit apartment is composed of (12) 1-bedroom / 1-bathroom units that are approximately 620 Sq. Ft and (1) 2-bedroom / 1-bathroom that is approximately 718 Sq. Ft. The owner has invested in recent capital improvements that include renovated units and new A/C units. This apartment community has been well maintained throughout ownership. The current owner does updates and improvements on a scheduled basis. The repairs and maintenance of the property and ground have been done as necessary, on time, & without deferring maintenance. The condition of the property offers prospective buyers an asset that will require very minimal maintenance for decades to come.
Based on information from California Regional Multiple Listing Service, Inc. as of March 6th, 2019 at 5:36pm PST. 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.