Sunnyvale | 310 5th St
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Sunnyvale 310 5th St
10 Unit Apartment Building $3,600,000 ($360,000/Unit) 4.52% Cap Rate Solvang, CA 93463
Investment Highlights
- Well maintained apartment building in quaint Danish town of Solvang
- Lots of upgrades in the last five years
- 40% upside in rents
Executive Summary
Don’t miss this very rare opportunity to acquire a well-maintained 10-unit apartment building located in the heart of the desirable City of Solvang. All the units are 1 bed and 1 bath with separate electric and gas meters, and the residents enjoy a private laundry room and off-street parking in the rear of the building. Upgrades within the last 5 years include laminate flooring in many of the units, new water heater, new dual pane windows and a complete replacement of the asphalt driveway and parking lot. The units are close to all that downtown Solvang has to offer, including restaurants, galleries, shops, and more. With over 40% upside in rents, this property offers the prudent investor lots of upside opportunity.
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $3,600,000 | Apartment Style | Low Rise |
| Price Per Unit | $360,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.20 AC |
| Cap Rate | 4.52% | Building Size | 8,712 SF |
| Gross Rent Multiplier | 14.22 | No. Stories | 2 |
| No. Units | 10 | Year Built | 1900 |
| Property Type | Multifamily | Parking Ratio | 1.15/1,000 SF |
| Property Subtype | Apartment |
| Price | $3,600,000 |
| Price Per Unit | $360,000 |
| Sale Type | Investment |
| Cap Rate | 4.52% |
| Gross Rent Multiplier | 14.22 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 8,712 SF |
| No. Stories | 2 |
| Year Built | 1900 |
| Parking Ratio | 1.15/1,000 SF |
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 10 | $989.00 | 450 |
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Walk Score ®
Very Walkable (85)
PROPERTY TAXES
| Parcel Number | 139-200-012 | Improvements Assessment | $180,489 (2023) |
| Land Assessment | $29,897 (2023) | Total Assessment | $210,386 (2023) |
PROPERTY TAXES
Parcel Number
139-200-012
Land Assessment
$29,897 (2023)
Improvements Assessment
$180,489 (2023)
Total Assessment
$210,386 (2023)
zoning
| Zoning Code | DR-20 |
| DR-20 |
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Sunnyvale | 310 5th St
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