$10,050,000
$10,445,000
3.8%For more information regarding the value of a property, please contact us for a free consultation.
52,608 SqFt
SOLD DATE : 07/12/2024
Key Details
Sold Price $10,050,000
Property Type Single Family Home
Listing Status Sold
Purchase Type For Sale
Square Footage 52,608 sqft
Price per Sqft $191
Subdivision Lompoc
MLS Listing ID 24-1159
Sold Date 07/12/24
Lot Size 1.900 Acres
Acres 1.9
Lot Dimensions 82764.0
Source Santa Barbara Multiple Listing Service
Property Description
Unique opportunity to acquire 60 units in two contiguous multifamily properties located at 1001 E Cypress Ave (''Bahia La Paz'') & 1021 E Cypress Ave (''Kimi East'') situated on the Central Coast in the City of Lompoc. Both buildings are garden-style courtyard communities that have been well maintained by the owner which have an excellent unit mix of 40 x 2BD/1BA units & 20 x 1BD/1BA units, ample onsite parking, multiple onsite laundry facilities, large-functional unit layouts, & an ideal location in the Lompoc Valley. Current rents are 25-35% under market providing for upside through annual rent increases under AB 1482 & by moving rents to market during turnovers. Lompoc is a thriving City providing housing for Vandenburg Space Force Base & the Santa Maria/Santa Ynez valleys.
Location
State CA
County Santa Barbara
Community Lompoc
Interior
Laundry Laundry Room
Exterior
Parking Features Carport, Uncovered
Building
Lot Description Near Public Transit
Others
Tax ID 085-150-093
Acceptable Financing Cash
Listing Terms Cash
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