Major Price Reduction! Each property is now offered individually at $2,700,000 (for 16-units), with the opportunity to acquire both assets together at a discounted portfolio price of $5,300,000. The portfolio reflects a blended cap rate of approximately 7.74% on in-place income and provides immediate scale, operational efficiencies, and a reduced per-unit basis. First Commercial is excited to present the Las Palmas Portfolio, a well-established 32 unit complex nestled in the burgeoning agricultural community of Los Banos, California. These two properties, available separately or together, boast a desirable mix of spacious two-bedroom units, situated on approximately half an acre of land. Recently, the property has undergone extensive renovations, enhancing both its structural integrity and aesthetic appeal. Significant improvements include comprehensive dry rot repairs, new roof, and stucco enhancements across all buildings. Structural upgrades to decks and roof overhangs have been completed, adhering to engineers’ recommendations. Modern wrought railings have been installed to meet current safety codes, alongside upgraded security measures, including monitoring cameras and high-efficiency exterior LED lighting. Additional updates encompass extensive roof repairs on all carports and fresh paint for all structures.