$1,000,000
$1,025,000
2.4%For more information regarding the value of a property, please contact us for a free consultation.
1.41 Acres Lot
SOLD DATE : 04/28/2015
Key Details
Sold Price $1,000,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Pr San Miguel-Town(200)
MLS Listing ID SP1046916
Sold Date 04/28/15
HOA Y/N No
Lot Size 1.410 Acres
Property Description
Marketing Remarks: Brokers/Agents: Please see Confidential Remarks. 11 Apartments & 22 Mobile Home Spaces on a 1.4 Acre parcel. 7.8 GRM TODAY! Assumable 1st T.D. with 34% down. Cash flow today with only 52% occupancy. 20% cash return on full occupancy. Leased Up CAP is 15% after cash infusion. Professional property management in place. San Miguel has a severe shortage of rental units. San Miguel is 7 minutes north of Paso Robles with a population of approximately 2,400 with a medial household income of $45,000. The median home value in San Miguel is $276,100. A brand new housing development is a few blocks away from the subject property with prices starting around $300,000.
Location
State CA
County San Luis Obispo
Interior
Heating Propane
Cooling None
Fireplace No
Laundry Common Area
Exterior
Garage On Site
Roof Type Shingle
Parking Type On Site
Building
Story One
Entry Level One
Foundation Raised, Slab
Level or Stories One
Others
Tax ID 021291012
Acceptable Financing Cash to Existing Loan
Listing Terms Cash to Existing Loan
Financing Conventional
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Bought with Guy Torelli • Torelli Investment Realty
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "