Rare Owner Opportunity and Investor Gem! Cypress Palms is a townhome style Quad-plex located in highly desirable rental market of Cypress. Across the street from Clara J King Elem. Spacious two-story units feature Soaring 20ft vaulted ceilings, large living rooms, central HVAC, and laundry inside. Two units recently remodeled; all units are in clean condition. Fully occupied with long-term tenants. 25% upside in current rents. Separately metered for electricity and gas. Potential Condo Conversion- units are already approved. New 50-year composite shingle roof installed 2011. Easy access to the 5,91,405 and 605 freeways. No rent control.
Cypress is a industrial urban center which boast a fulltime working class population of 50,000+, and is stable with steady growth. Cypress has a diverse and broad base economy that covers several different industry sectors. Some of the largest employers in Cypress are: United Heath Group, Cypress College, Siemens, Yamaha, Vans, Costco, Mitsubishi, the Los Alamitos Race Track, and the nearby Los Alamitos Military base. Cypress has an excellent public school system.
Cypress has short supply of available rental housing. There are only about 4,800 rental units total, which is very low for a city of this size.
