Las Palmas at 233 233 W I St 16 Unit Apartment Building $2,897,500 ($181,094/Unit) 7.09% Cap Rate Los Banos, CA 93635

First Commercial is excited to present the Las Palmas at 233, 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.