This property is Off-Market

271/291 S Halcyon Rd
Arroyo Grande, CA 93420 ·

26 Units · Multifamily For Sale

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Jade & Onyx Apartments

Price N/A Cap Rate 5.26%
No. Units 26 Gross Rent Multiplier 10.36
Building Size 18,490 SF No. Stories 2
Property Type Multifamily Year Built 1962
Property Sub-type Garden/Low-Rise Lot Size 35,744 SF
Property Use Type Investment APN / Parcel ID 006-544-024
Commission Split 2.5%
Listing ID: 17754098 Date Created: 07/18/2012 Last Updated: 04/25/2013

Description

The Jade and Onyx apartments are two separate (2)-story walk up apartment buildings in the desirable community of Arroyo Grande. The properties are just a few minutes for Old town Arroyo Grande or a quick drive down Grand Ave to Pismo State Beach and Pismo Dunes. Each building sits on a separate lot (with APN) and features separate courtyards and carports. Total unit mix is (13)-2Bed/1Bath & (13)-1Bed/1Bath with rents below market. The Jade and Onyx apartments have great income upside and are priced well below replacement cost. This investment won' t last. One seller is a licensed CA real estate agent.

Arroyo Grande is located midway between Los Angeles and San Francisco and has a pleasant year-round climate. The city is nestled between the Pacific Ocean, beautiful foothills, lakes, and world-class wineries, covering 5.45 square miles, with a population of 17,252.

Once in Arroyo Grande, take Halcyon south from Grand Avenue. Property is located about 1-1/2 blocks on the east side of Halcyon.

Highlights

  • Two apartment buildings in the desirable community of Arroyo Grande
  • Good upside in rents
  • Near Pismo State Beach and Pismo Dunes
  • Two separate APNs

Research

271/291 S Halcyon Rd, Arroyo Grande, CA 93420 (San Luis Obispo County)

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