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204 N Spring Ave
For Sale $1,195,000 ($418.42 per Sq Ft)
$1,195,000 ($418.42 per Sq Ft)
- 12 Bedrooms
- 6.00 Bathrooms
- 2,856 Sq Ft
- 6,211 Sq Ft
Description
Excellent investment opportunity at 7.04 cap actual. 4 unit property: 204 Apt. A is 2 bedrooms and 1 bath; 204 Apt. B is 3 bedrooms and 2 baths; 204 Apt. C is 5 bedrooms (4 plus smaller bedroom that is office sized) and 2 baths; 206 is a small detached house on the lot with 2 bedrooms and 1 bath. The property also has 4 single-car garages with additional space for parking or adding an ADU. The roof of the detached unit 206 was replaced in the last two years. The water pipe from the meter to the building was replaced within the last two years and the concrete repaired. A new secure 4 station mailbox was installed in the last two years. There is a laundry room on site that was never utilized. Excellent opportunity to get to a 8.0 cap with laundry addition and increased rents. Do NOT disturb Tenants.
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Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $1,195,000 |
| Property Type | Fourplex (4-units) |
| Usable Sqft | 2,856 |
| Number of Stories | 2 stories |
| Parking Spots | 0 spots |
| Year Built | 1942 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 6166022007 |
| MLS # | 24430359 |
| Property ID | 292184629 |
| Lot Sqft | 6,211 |
| Zoning | CORH* |
| Total Units | 4 |
| Days on Market | 149 |
| Original List Price | $1,300,000 |
| Date Updated | December 30, 2024 |
| Date Created | August 22, 2024 |
| Unit # | Beds | Baths | Current Rent | Proforma Rent |
| Unit #1 | 2 | 1.00 | $1,670 | $1,895 |
| Unit #2 | 3 | 2.00 | $2,995 | $2,995 |
| Unit #3 | 5 | 2.00 | $2,774 | $3,495 |
| Unit #4 | 2 | 1.00 | $1,840 | $1,840 |
| Gross Income (Yr) | $ 113,748 |
| Operating Expenses | $ 33,105 |
| Net Income (Yr) | $ 80,643 |
| Cap Rate | 7.04% |
Listing Provided By
Melissa Barlow an agent of . Lic #01498928
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