7 Unit Multi-Family | 800-812 Lyndon St
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7 Unit Multi-Family 800-812 Lyndon St
7 Unit Apartment Building $3,225,000 ($460,714/Unit) 4.19% Cap Rate Monterey, CA 93940
Investment Highlights
- Well located property in heart of Pacific Grove.
- Plenty of shopping nearby.
- Private neighborhood.
- Close to Cannery Row & Pebble Beach.
Executive Summary
Price represents a $250,000 reduction effective 4/23/2024! Bring offers!
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RARE OFFERING! PERFECT 1031 OPPORTUNITY. GREAT ADDITION TO INVESTOR'S REAL ESTATE PORTFOLIO. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. DO NOT DISTURB OR APPROACH TENANTS. ALL SELLER DOCUMENTATION IS STRICTLY CONFIDENTIAL. PROPERTY SOLD IN AS-IS CONDITION.
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Full Offering Memorandum, CoStar Analytics & Underwriting Reports available to Buyer executing confidentiality agreement. Interested Prospects are asked to present Broker with signed / dated Letter of Interest and proof of funds (and acquisition debt prequalification, if any) prior to showings. Seller will prepare Purchase Sale Agreement (PSA). Seller (and Buyer) may be involved in a 1031 Exchange requiring other party’s cooperation.
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**NOTE: There is no Buyside commission. Call Listing Broker with questions. Escrow with Chicago Title - Denise Johnson.
---- -
RARE OFFERING! PERFECT 1031 OPPORTUNITY. GREAT ADDITION TO INVESTOR'S REAL ESTATE PORTFOLIO. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. DO NOT DISTURB OR APPROACH TENANTS. ALL SELLER DOCUMENTATION IS STRICTLY CONFIDENTIAL. PROPERTY SOLD IN AS-IS CONDITION.
---- -
Full Offering Memorandum, CoStar Analytics & Underwriting Reports available to Buyer executing confidentiality agreement. Interested Prospects are asked to present Broker with signed / dated Letter of Interest and proof of funds (and acquisition debt prequalification, if any) prior to showings. Seller will prepare Purchase Sale Agreement (PSA). Seller (and Buyer) may be involved in a 1031 Exchange requiring other party’s cooperation.
---- -
**NOTE: There is no Buyside commission. Call Listing Broker with questions. Escrow with Chicago Title - Denise Johnson.
Data Room Click Here to Access
- Offering Memorandum
- Market Information
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $3,225,000 | Apartment Style | Low Rise |
| Price Per Unit | $460,714 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.23 AC |
| Cap Rate | 4.19% | Building Size | 4,820 SF |
| Sale Conditions | 1031 Exchange | Average Occupancy | 100% |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1959 |
| Property Subtype | Apartment | Parking Ratio | 1.65/1,000 SF |
| Price | $3,225,000 |
| Price Per Unit | $460,714 |
| Sale Type | Investment |
| Cap Rate | 4.19% |
| Sale Conditions | 1031 Exchange |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 4,820 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1959 |
| Parking Ratio | 1.65/1,000 SF |
Unit Amenities
- Heating
- Views
- Yard
- Patio
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 3 | - | 600 - 710 |
| 2+1 | 4 | - | 710 |
Walk Score ®
Very Walkable (71)
PROPERTY TAXES
| Parcel Number | 001-183-007-000 | Total Assessment | $2,549,105 (2023) |
| Land Assessment | $525,588 (2023) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $2,023,517 (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
001-183-007-000
Land Assessment
$525,588 (2023)
Improvements Assessment
$2,023,517 (2023)
Total Assessment
$2,549,105 (2023)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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Paul Stansen - Paul E Stansen, APC
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7 Unit Multi-Family | 800-812 Lyndon St
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