Property Description

Current CAP rate at 5.16% and ProForma CAP at 6.13% with a current NOI of $103,007! Very well priced at $90,681 per unit. This is a great opportunity to own two well maintained and professionally managed multifamily apartment buildings with a total of 22 units within walking distance of the lake and a park. This is a package deal consisting of 2 separate properties with 2 APN’ s sold together. The 17586 Grand Building has an onsite laundry room with owned machines that both buildings share for additional income. The Grand Apartments consist of 8 units with 7 studios and a single 3 bed/2 bath home. The 32986 Blackwell Apartments located across the street from the Grand Apartments consist of 14 studio units with tile floors and custom paint interiors making for very low turnover costs. Lake Elsinore is perfectly situated for commuters between Orange County, San Diego and the Inland Empire. Also see all the attached financial supplements (actual cash flows and rent rolls).

: 22.00
: Sidewalks
Sewer paid
: 0-1 unit/acre
: Community
: Public
: No common walls
Address Map
W118° 39' 16.5''
N33° 38' 24''
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32986 Blackwell

32986 Blackwell, Lake Elsinore, California 92530

8,125 Sqft
Listing ID #OC18003157
Basic Details
Property Type : Residential Income
Listing Type : For Sale
Listing ID : OC18003157
Price : $1,995,000
View : Neighborhood,pool
Square Footage : 8,125 Sqft
Year Built : 1960
Country : US
State : CA
County : Riverside
City : Lake Elsinore
Zipcode : 92530
Status : Active under contract
DOM : 110
Agent info
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