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1662 Eucalyptus Dr 11 Unit Apartment Building $3,499,000 ($318,091/Unit) 3.27% Cap Rate Solvang, CA 93463
Executive Summary
Great 11+ unit Multi Family apartment building plus a detached SFD on Laurel Ave. Located walking distance to Village of Solvang and schools, Zoing is R/3 which is the Cities highest density zoning, giving the investor Buyer the possibility to add additional units on the 1.1 acre 47,916+/- sq.ft. parcel. There are 5 single level 2 bed, 1 bath units, 6 - 1 bedroom, 1 bath units, and a 2 bedroom, 1.5 bath detached SFD with access off of Laurel Ave. Common coin-op laundry facilities and a seperate 10 space parking structure.
Terms Cash to Seller. Contact John Frederick for more information.
Terms Cash to Seller. Contact John Frederick for more information.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $3,499,000 | Property Subtype | Apartment |
| Price Per Unit | $318,091 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.10 AC |
| Cap Rate | 3.27% | Building Size | 9,291 SF |
| Gross Rent Multiplier | 20.7 | Average Occupancy | 100% |
| No. Units | 11 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1962 |
| Zoning | R-3 - Multi-Family Residential. Check with City of Solvang regarding allowed uses for R/3 zoning | ||
| Price | $3,499,000 |
| Price Per Unit | $318,091 |
| Sale Type | Investment |
| Cap Rate | 3.27% |
| Gross Rent Multiplier | 20.7 |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 1.10 AC |
| Building Size | 9,291 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1962 |
| Zoning | R-3 - Multi-Family Residential. Check with City of Solvang regarding allowed uses for R/3 zoning |
Amenities
- Smoke Detector
Unit Amenities
- Heating
- Kitchen
- Carpet
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Trash Pickup - Curbside
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 5 | - | - |
| 1+1 | 6 | - | - |
| 2+1.5 | 1 | - | - |
Walk Score®
Very Walkable (86)
Property Taxes
| Parcel Number | 139-080-023 | Improvements Assessment | $387,839 (2025) |
| Land Assessment | $245,468 (2025) | Total Assessment | $633,307 (2025) |
Property Taxes
Parcel Number
139-080-023
Land Assessment
$245,468 (2025)
Improvements Assessment
$387,839 (2025)
Total Assessment
$633,307 (2025)
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1662 Eucalyptus Dr
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