CA > Lompoc > North East Lmpc(47)
Lompoc, CA 93436,733 N C ST
Lompoc, CA 93436,733 N C ST
Lompoc, CA 93436,733 N C ST
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$2,760,000
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0.53 Acres Lot
Active

733 N C ST Lompoc, CA 93436

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Jerry And Rachel Team Hsieh

Jerry And Rachel Team Hsieh

+1(424) 242-8856

UPDATED:

Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision North East Lmpc(47)

MLS Listing ID PI25159888

HOA Y/N No

Year Built 1960

Lot Size 0.530 Acres

Property Sub-Type Apartment

Property Description

Coral Apartments in Lompoc is a well maintained 22-unit multifamily apartment complex in Lompoc with upgraded copper plumbing, newer ABS sewer lines, newer gas heaters, upgraded tile bathrooms, and more. The (8) 1-bedroom and (14) studios apartments surround a tastefully landscaped courtyard, and residents enjoy the comfort of security gates and camera system in addition to on-site parking and a common laundry room. The property is operated subject to an affordable covenant that expires in 2034 which restricts the renting of the apartments to “Low” or “Very Low” Income Households. Even with the affordable restrictions, there is strong upside in rents that can yield a Proforma CAP rate of 9.6% giving the savvy investor “value-add” opportunity in the short term with additional upside once the affordable agreement expires.

Location

State CA

County Santa Barbara

Area Lomp - Lompoc

Interior

Heating Wall Furnace

Cooling None

Flooring Laminate, Vinyl

Fireplace No

Laundry Common Area

Exterior

Parking Features On Site, Off Street

Pool None

Community Features Sidewalks

Roof Type Composition,Shingle

Total Parking Spaces 19

Private Pool No

Building

Lot Description 36-40 Units/Acre

Story 2

Entry Level Two

Foundation Slab

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 087103020

Energy Description 1.0

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Special Listing Condition Standard

CRMLS – RECore
Listed by Steven Battaglia Steven Battaglia, Broker 8056806431

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agent

Jerry And Rachel Team Hsieh

Owner/Director of Sales | License ID: 01701809

+1(424) 242-8856

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733 N C ST

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