220 K St, Los Banos, CA 93635
8 Unit Apartment Building | $1,800,000 ($225,000/Unit) | 6% Cap Rate | Los Banos, CA 93635
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $1,800,000
- Property Type
-
Multifamily
- Square Feet
- 6,600 SF
Listing Contacts
Ali Rashidifar
Verified Profile
- Property Info
Property Overview
These properties (218 & 220 W K st Los Banos Ca) are in perfect condition and a rare unit to go for sale in this area. There are 8 units. 4 which rents are at $1500 (with lease) and 4 which are at $1260 and can be raised to $1500 within months of purchase. 3 of the units of been completely renovated with $10,000 invested into each. Newly painted, new floors, cabinets and receipts to show all the work. The owner has maintained this property in pristine condition with weekly landscaping, trash removal and onsite maintenance. This has been managed by Westhill Property Management who are located in Los Banos, just blocks from the property.
This listing is for 2 (4) four unit properties on attached lots zoned R2. These are multi unit family residences (Not Commercial) The buyer (if needed) will have to get 2 separate residential loans. This is for 218 & 220 W K st.Los Banos CA 93635-4054
***BIG OPPORTUNITY*** - The owner has obtained permitting for a 2 unit 1bd/1bth 1040 sqft ADU in place of the carport. The permits, designs and all licensing has already been paid for by the owner, which will save the new buyer $20,000 in costs. This is all included in the sale as well. The designs have been sent out for construction proposals and the average cost to build this ADU has been around $250,000. The owner is willing to pay $50,000 towards this construction to any new buyer.
This listing is for 2 (4) four unit properties on attached lots zoned R2. These are multi unit family residences (Not Commercial) The buyer (if needed) will have to get 2 separate residential loans. This is for 218 & 220 W K st.Los Banos CA 93635-4054
***BIG OPPORTUNITY*** - The owner has obtained permitting for a 2 unit 1bd/1bth 1040 sqft ADU in place of the carport. The permits, designs and all licensing has already been paid for by the owner, which will save the new buyer $20,000 in costs. This is all included in the sale as well. The designs have been sent out for construction proposals and the average cost to build this ADU has been around $250,000. The owner is willing to pay $50,000 towards this construction to any new buyer.
Property Details
- Class
- C
- Year Built/Renovated
- 1980/2020
- Stories
- 2
- Lot Size (sq. ft)
- 12,632 SF
- Units
- 8
Highlights
- Cleanest and best maintained property in the area
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