Log In/Sign Up
Your email has been sent.
Las Palmas at 133 133 W I St 16 Unit Apartment Building $2,897,500 ($181,094/Unit) 7.22% Cap Rate Los Banos, CA 93635
INVESTMENT HIGHLIGHTS
- Prime Investment Opportunity: Well-established 16-unit complex in a highly constrained rental market with a robust tenant base.
- Extensive Renovations: Recent upgrades include major dry rot repairs, new roof, new asphalt at both entries, and comprehensive cosmetic enhancements.
- Plug and Play Asset: Excellent In-Place Income and very well Maintained.
- Spacious Two-Bedroom Units: All units are designed for comfort, featuring generous layouts that cater to a diverse range of tenants.
- Structural Integrity Improvements: Engineered upgrades to decks and roof overhangs, along with new wrought railings, ensure safety and compliance.
EXECUTIVE SUMMARY
First Commercial is excited to present the Las Palmas at 133, a well-established 16-unit complex nestled in the burgeoning agricultural community of Los Banos, California. This property boasts a desirable mix of spacious two-bedroom units spread across four buildings, 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.
PROPERTY FACTS
| Price | $2,897,500 | Building Class | C |
| Price Per Unit | $181,094 | Lot Size | 0.58 AC |
| Sale Type | Investment | Building Size | 13,200 SF |
| Cap Rate | 7.22% | Average Occupancy | 100% |
| No. Units | 16 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1963/2021 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | R-2 | ||
| Price | $2,897,500 |
| Price Per Unit | $181,094 |
| Sale Type | Investment |
| Cap Rate | 7.22% |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.58 AC |
| Building Size | 13,200 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1963/2021 |
| Opportunity Zone |
Yes |
| Zoning | R-2 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Granite Countertops
- Range
- Double Pane Windows
- Vinyl Flooring
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 16 | - | 825 |
1 1
PROPERTY TAXES
| Parcel Number | 027-072-005 | Improvements Assessment | $1,599,578 |
| Land Assessment | $278,876 | Total Assessment | $1,878,454 |
PROPERTY TAXES
Parcel Number
027-072-005
Land Assessment
$278,876
Improvements Assessment
$1,599,578
Total Assessment
$1,878,454
1 of 9
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
Las Palmas at 133 | 133 W I St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.