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133 W I St
Los Banos, CA 93635
Las Palmas Portfolio · Multifamily Property For Sale
INVESTMENT HIGHLIGHTS
- Prime Investment Opportunity: Well-established 16-unit complex in the growing community of Los Banos, a highly constrained rental market with a robust
- Extensive Renovations: Recent upgrades include major dry rot repairs, new roof, new asphalt at both entries, and comprehensive cosmetic enhancements
- Enhanced Security Features: Equipped with monitoring security cameras and high-efficiency exterior LED lighting for added tenant safety.
- Spacious Two-Bedroom Units: All units are designed for comfort, featuring generous layouts that cater to a diverse range of tenants.
- Structural Integrity Improvements: Engineered upgrades to decks and roof overhangs, along with new wrought railings
- Ample Parking and Accessibility: Recently sealed and striped parking areas, along with extensive roof repairs on carports.
EXECUTIVE SUMMARY
First Commercial is excited to present the Las Palmas Portfolio, a well-established 32 unit complex nestled in the burgeoning agricultural community of Los Banos, California. These two properties, available separately or together, boast a desirable mix of spacious two-bedroom units, 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.
PROPERTY FACTS
| Price / SF | $200.76 / SF | Number of Properties | 2 |
| Cap Rate | 7.74% | Individually For Sale | 2 |
| Sale Type | Investment | Total Building Size | 26,400 SF |
| Status | Active | Total Land Area | 1.23 AC |
| Price / SF | $200.76 / SF |
| Cap Rate | 7.74% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 2 |
| Total Building Size | 26,400 SF |
| Total Land Area | 1.23 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
Las Palmas
133 W I St, Los Banos, CA 93635 |
Multifamily | 13,200 SF | 1963 | $2,700,000 |
|
Valley Oaks Apartments
233 W I St, Los Banos, CA 93635 |
Multifamily | 13,200 SF | 1957 | $2,700,000 |
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