DEAL! 6 Units in Ventura, CA 2 Blocks from Beach! $699k. 7.99% Cap Rate. Fully leased up, month to month, no major deferred maintenance. Make me an offer!
4 2+1's, $1200 1 1+1, $950 1 Studio, $900
$6650/month gross, once rents raised.
Current total monthly rents (haven't been raised since 2004!) $5400/month.
Comps on Current Rent Values: $6650/month...$79,800/year.
Less 30% for costs/fees/maintenance: Net Operating Income: $55860.
Cap Rate at $699k: 7.99%. Not bad.
Contact me for info.
Located in Historic Downtown Ventura, CA. 2 Blocks from the Beach, 2 Blocks from the Ventura County Fairgrounds. In the Downtown Re-development district by the city. LOTS of new construction/renovation nearby.