$995,000 Price Analysis   ♡   Lompoc, CA 93436 7 bed 4 bath 2,496 SqFt ($398/SqFt) 6,970SqFt lot. Built 1960 Listed 2024-05-02, Taxes $2,809 | Ⓧ USDA Ineligible due to price & location near Lompoc |
Listing provided by Varinder Kumar please reach out directly for any questions or interest .
* Has Contingent Offer *Discover a remarkable investment opportunity with this fully remodeled 4-unit multifamily property located in the heart of Lompoc, CA. Live in one unit while the others generate income! Investment Highlights: Extensively renovated with modern finishes, including new kitchens, bathrooms, bedrooms, as well as new exterior and interior paint. Efficient unit layout with appealing floor plans and tremendous floor-to-ceiling height. Includes 3 new dryers and 2 washers, enhancing tenant convenience. Tenants are responsible for electricity, gas, sewer and trash expenses, minimizing operating costs for the owner. This property presents an attractive 6.6% CAP rate with a pro forma CAP rate of 8%, showcasing its potential for significant income growth.
Square Footage: 2, 496 Lot Size: 6, 970 SF Unit Composition: 3 units with 2 beds and 1 bath each (672 SF each) and 1 unit with 1 bed and 1 bath (480 SF) Current Rental Income: $7, 950/month Future Rental Income (Post June 1, 2024): $8, 521/month Parking: 4 spaces Year Built: 1960, Renovated in 2023 Location Benefits: Situated in Lompoc, CA, a city known for its thriving economy and significant growth. Close to notable economic drivers such s the Trident Missile Program and Vandenberg Space Force Base. Supported by economic development initiatives and the Lompoc Valley Chamber of Commerce, aiming to attract businesses and create job opportunities. This property is a perfect match for investors seeking to capitalize on Lompoc's growing market while enjoying the benefits of a fully remodeled, turnkey investment. With its strategic location, modern amenities and strong income potential, this multifamily opportunity is poised to be a valuable addition to any investment portfolio.
Presented by Varinder Kumar at
Coldwell Banker West.
Property MLS #PT24087831 from CRMLS
Lot Size Acres: 0.1600092
Lot Size Source: Public Records
Lot Size Square Feet: 6970
Bedrooms in Unit-1: 1
Bedrooms in Unit-2: 2
Bedrooms in Unit-3: 2
Bedrooms in Unit-4: 2
Total Bathrooms in Unit-1: 1
Total Bathrooms in Unit-2: 1
Total Bathrooms in Unit-3: 1
Total Bathrooms in Unit-4: 1
Rent Control: Yes
County: Santa Barbara
Source Property Type: Residential Income
Insurance Expense: 2100.00
Area: LOMP - Lompoc
Source Neighborhood: South East Lmpc(52)
Number of Separate Electric Meters: 4
Number of Separate Gas Meters: 4
Number of Separate Water Meters: 5
Parcel Number: 091021023
Subdivision: South East Lmpc(52)
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $155,105 + $88,626 $243,731 | $2,809 |
| 2021 | $152,064 + $86,889 $238,953 | $2,839 |
$995,000
CRMLS
Sold 2022-11-02
$560,000
Public Record
Listing removed 2022-11-02
$0
NSBCRMLS
Sold 2022-11-02
$580,000
CRMLS
Year Built: 1960
Building Features: 1
Common Walls: 2+ Common Walls
Entry Level: 1
Entry Location: 1
Property Age: 64
Property Attached: Yes
Roof: Shingle
Building Total Stories: 1
Structure Type: Quadruplex
Year Built Source: Public Records
Water Source: Public
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.