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1283-1287 Playa Blvd
Seaside, CA 93955
Playa Vista Apartments · Multifamily Property For Sale
·
15 Units
PROPERTY FACTS
| No. Units | 15 | Lot Size | 0.34 AC |
| Property Type | Multifamily | Building Size | 7,212 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1969 |
| Building Class | C | Parking Ratio | 1.1/1,000 SF |
| No. Units | 15 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 7,212 SF |
| No. Stories | 2 |
| Year Built | 1969 |
| Parking Ratio | 1.1/1,000 SF |
ABOUT 1283-1287 PLAYA BLVD , SEASIDE, CA 93955
Amazing deal with great returns! 6.36% cap on current income, 8.4% cash on cash with assumption of existing $2,000,000 first at 3.5%, and an 12.68% return before taxes. At market rents, 6.93% cap, 10.22% cash on cash return, and 14.49% return before taxes. Possible Seller financing is available which can increase returns. Rarely available Monterey Peninsula 15-unit complex with 13 one bed & 2 two bed/ one bath units. 8+ units have been renovated. Upgrades include retaining wall replacement, sewer line replacement, 80% new windows, upgraded electrical & water supply lines, decking repair, and kitchen upgrades. Tenants pay PG&E, including hot water. Average rent for one bedroom is $1152/most recent turnover in 7/2016 was at $1200. Very little turnover in this complex- 3 units in 24 months. Tenants love the location near schools, employment, and the neighborhood shopping which is a short walk and eliminates need for second car. Costco, Dollar Tree, & Target are very close and an easy walk.
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $2,289,097 | |
| Land Assessment | $1,008,147 | Total Assessment | $3,297,244 |
PROPERTY TAXES
