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435 E Newlove Dr 6 Unit Apartment Building $2,199,000 ($366,500/Unit) 4.83% Cap Rate Santa Maria, CA 93454
INVESTMENT HIGHLIGHTS
- 2 Car Garage Per Unit
- Close to Betteravia Shopping Area
- Private Balconies & Back Patios
EXECUTIVE SUMMARY
This 6-unit apartment building consists of all 2-story, 3Bed/2.5Bath townhouse units, each with a 2-car garage and laundry hookups. Located on over a half-acre lot, the property is conveniently situated near Enos Ranch and the Betteravia Rd shopping area, providing tenants with easy access to shopping and local amenities. The property also offers strong potential with extra space at the back of the lot that could allow for the construction of additional units. A great opportunity for investors seeking to add value.
PROPERTY FACTS
| Price | $2,199,000 | Apartment Style | Townhome |
| Price Per Unit | $366,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.59 AC |
| Cap Rate | 4.83% | Building Size | 8,640 SF |
| Gross Rent Multiplier | 12.9 | No. Stories | 2 |
| No. Units | 6 | Year Built | 1983 |
| Property Type | Multifamily | Parking Ratio | 0.69/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R2 - Residential | ||
| Price | $2,199,000 |
| Price Per Unit | $366,500 |
| Sale Type | Investment |
| Cap Rate | 4.83% |
| Gross Rent Multiplier | 12.9 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 0.59 AC |
| Building Size | 8,640 SF |
| No. Stories | 2 |
| Year Built | 1983 |
| Parking Ratio | 0.69/1,000 SF |
| Zoning | R2 - Residential |
AMENITIES
SITE AMENITIES
- Public Transportation
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+2.5 | 6 | $2,348 | 1,440 |
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PROPERTY TAXES
| Parcel Number | 128-073-002 | Improvements Assessment | $1,167,328 |
| Land Assessment | $636,724 | Total Assessment | $1,804,052 |
PROPERTY TAXES
Parcel Number
128-073-002
Land Assessment
$636,724
Improvements Assessment
$1,167,328
Total Assessment
$1,804,052
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435 E Newlove Dr
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