DRAMATIC PRICE REDUCTION! Neighbor at 733 B St. is also for sale by same family. Seller has put almost $300k into massive rehab over the past year including new fixtures, lighting, flooring, paint and water heaters. All units have washer/dryer hook-ups which generate extra rent. Each unit has individual water heaters. Tenants pay to heat their own water. New energy efficient appliances save tenants money. All units have private balconies and/or large private yards. Adding garage doors to carports could boost income even further. Maxable, adu consultants, think six units could be added because of density bonus law. Seller paid salaries to four staff to service four Ramona assets. New buyer does not need a resident manager, but might pay for a porter. This asset has 2 parcels: 281-312-05 & 17. Sewer, fire protection & other are collected via property tax billing. Projected income reflects a 7% increase. Lenders may require for first year reserves of 12 month principal and interest payment (buyer posts that extra money for first year and then gets remainder back after first year).
Inspection will be coordinated upon accepted offer only. No previews.
Please do not disturb tenants. Tenants are unaware of the sale of this property.
The information contained herein has been obtained from sources believed reliable. ACI does not doubt the accuracy, but we have not verified it and make no guarantee, warranty or representations.
