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500 Acacia Road, Santa Paula, CA

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500 Acacia Road

Santa Paula, CA 93060 - Outlying Ventura County MF Submarket

Property Type:Multi-Family Number of Units:12 Status:Existing Year Built:1988
Stories:2 Building Size:9,296 SF Land Area:.55 AC (24,002 SF)
For Sale Price:$1,950,000 Price/Unit:$162,500.00 Cap Rate:4.74 % GRM:-

Parking:1.67 Parking Spaces / 1,000 SF

Sale Notes:
This 12-unit (all two-bedroom one-bathroom units), was constructed in 1987. This is an ideal unit mix that rarely sees a vacancy. With its tile roof and newer construction, as well as the recent building fumigation and elimination of any compromised wood issues, this property offers a new owner very little in maintenance costs going forward. Long-term tenancy and increased rental rates are assured because of the valuable unit amenities, such as air-conditioning and balcony/porch areas, at the property.

The lower rents being paid by most tenants, compared to current market rents, will generate significant improvement to the existing cash flow, that will, ultimately, reflect a much lower gross rent multiplier and increased capitalization rate, making this a strong real estate investment vehicle!

Apartment Investment Specialists
Craig A Lieberman
(805) 687-5557 x105

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