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- LoopNet Team
304 W Broadway St
Needles, CA 92363
Palms Apartments · Multifamily Property For Sale
·
17 Units
INVESTMENT HIGHLIGHTS
- Close to Everything!
- Great Investment!
- Local Management Company!
PROPERTY FACTS
| No. Units | 17 | Lot Size | 0.42 AC |
| Property Type | Multifamily | Building Size | 5,114 SF |
| Property Subtype | Apartment | Average Occupancy | 100% |
| Apartment Style | Garden | No. Stories | 1 |
| Building Class | C | Year Built | 1930 |
| Zoning | CRR - Commercial Residential Resort | ||
| No. Units | 17 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.42 AC |
| Building Size | 5,114 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1930 |
| Zoning | CRR - Commercial Residential Resort |
ABOUT 304 W BROADWAY ST , NEEDLES, CA 92363
304 W Broadway Annual Gross Rental Income $106,550 17 Units! (Will be 19 units being remodeled now, large unit and office space not rented) Great Investment! Only $799,000 In the city of Needles CA. 100 % Occupancy for over 7 years! People waiting to get in! No Rent Control. Total of 17 Units (Will be 19 units $ 600. Per Month per new 2 Units). Annual Gross Rental Income $119,160+ ($14,400 pro forma 2 Units being remodeled) , Annual Operating Expense Approx. $34,389 , Annual Net Operating Income $84,771 + ($14,400 Proforma) total is $133,560. Landlord Pays for Water ,Trash and Common Area's Gas/Electricity, even Cablevision! That's why people love it, everything included in rent!. Close to Everything Centrally Located, Close to Freeway, Walking Distance to Stores and Transportation Local Management Company. No Vacancy's . Easy to Rent with a waiting list to get in. Most of Tenants are Long-Term Tenants. Rents can be raised! All units were “torn down to the studs” approx. 12 years ago. New drywall, new electrical, plumbing, everything! There is a very large office/apt unit that could be divided into the additional 2 units. 1 Unit intentionally left vacant in property for Owner or Manager
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 15 | - | - |
| 1+1 | 2 | - | - |
PROPERTY TAXES
| Parcel Number | 0186-151-10 | Improvements Assessment | $753,458 |
| Land Assessment | $159,181 | Total Assessment | $912,639 |
PROPERTY TAXES
