83298-83420 Argus Ave - Apartments FOR SALE


Trona, CA 93562
$600,000 USD
951-581-1118
83298-83420 Argus Ave, Trona, CA for Sale
$600,000 USD
Apartments - FOR SALE
1/44
null | Request Cap Rate

83298-83420 Argus Ave
Trona, CA 93562


HIGHLIGHTS

  • Section 8 potential
  • Stabilize and Re-sell or Hold
  • Cash Flow Potential
  • Building One Almost Completed
  • New Roofs On Two Buildings
  • Individually Metered

OVERVIEW

(36 units /36Beds/36Baths/Each Unit is 500sqft 1B1B) First building's units are almost ready for lease they need, units in the first row need minimal work. First 2 units are already completed. One unit is 4 bedrooms; located in Building 2. Multi-family commercial/residential complex for sale. After Construction, the property may be rented via Section 8 Government Housing. Section 8 currently pays about $1,000 for each unit. The property consists of four separate apartment buildings with an equal number of units in each all configured as one bedroom one bathroom units totaling approximately 22000 square feet of living area on an expansive three acre lot. Utilities including gas water and electric are present and the property features separate laundry room structures. Two of the four buildings have recently received new roofs and one unit in the first building has been fully completed while the remaining units are ready for renovation. The entire complex is currently vacant and offers significant upside potential with projected rents of $1000-$1,200 per unit upon completion as Trona continues to grow and much of the surrounding real estate is being actively rehabilitated creating strong future demand and long term upside. There is already a successful apartment complex with over 50 units in Trona known as the Searles Valley Apartments. They currently have a large waiting list, which suggests tenants are already waiting to move in!

FOR SALE DETAILS

PRICE

$600,000 USD

PRICE/SF

$21 USD /SF

# OF UNITS

36

PRICE/UNIT

$16,667

CAP RATE

Request Cap Rate

% LEASED

0%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Fairway Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1948

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.99 AC

LAND SF

130,202 SF

ZONING

RM

APN/PARCEL ID

0485-205-01

ASK ABOUT THIS PROPERTY

Gilberto Omar Garcia JrRise RealtyMore Info
951-581-1118

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Gilberto Omar Garcia JrRise RealtyMore Info
951-581-1118

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.