434 B St
Empire, CA 95319
Multifamily Property For Sale
·
23 Units
PROPERTY FACTS
| No. Units | 23 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.85 AC |
| Building Size | 18,833 SF |
| No. Stories | 1 |
| Year Built | 1967 |
| Parking Ratio | 3.98/1,000 SF |
| Zoning | R2,County |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Washer/Dryer Hookup
- Heating
- Tile Floors
- Kitchen
- Oven
- Range
- Tub/Shower
- Carpet
- Yard
- Patio
- Window Coverings
SITE AMENITIES
- Courtyard
- Property Manager on Site
ABOUT 434 B ST , EMPIRE, CA 95319
19 individual 2br 1ba cottages with fenced yard space and abundant parking make this multi-family complex highly desirable and keeps it 100% occupied with a waiting list. Separate on-site manager's residence and three connected units produce a total of 23 single story units totaling 18,833 sq. ft. on a 1.85 acre lot. Built in 1967, most of the units feature washer/dryer hook-ups and upgraded HVAC systems. Property is well maintained with no significant deferred maintenance. Cap rate of 6.25% is based upon actual 2018 rents and actual 2017 reported expenses excluding mortgage and depreciation and projected tax expense based upon sales price. Exhibits attached. Some added income is expected as rents in this market continue to increase and current rents are a bit below market rate. Located near HWY 132, the main commute thoroughfare leading west into Modesto.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 20 | $875.00 | 792 |
| 3+1 | 2 | $525.50 | 953 |
| 1+1 | 1 | $750.00 | 725 |
PROPERTY TAXES
| Parcel Number | 133-03-06 | Improvements Assessment | $2,120,938 |
| Land Assessment | $229,664 | Total Assessment | $2,350,602 |
