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902 S Forbes Street

Lakeport, CA 95453
  • $1,949,000
  • STATUS: Active Under Contract
  • ON SITE: 78 Days
  • ID#: LC22069827
Under Contract
UPDATED: 219 min ago
$1,949,000
  • 0
    BEDS
  • 0.51
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1988
County:

School Ratings & Info

Listing Agent(s): Denise Marino of Re/Max Gold Lake County (707-262-5700) and Mary Lunas of Re/Max Gold Lake County(707-262-5700)


Description

15 Unit multifamily apartment complex in desirable Lakeport location. The building offers varied unit mix comprised of 4- 3BD 1BA, 2- 1BD 1BA, 9-2BD 1.5BA. Units are individually metered for propane and electricity, paid by tenants. All units occupied with several long term tenants. Property is situated on a acre parcel with ample parking options consisting of 15 covered assigned undercover spaces, plus additional 15 uncovered assigned spaces. The property has been under the current ownership for 15 years, and has been maintained and personally managed during this time.Conveniently located and within walking distance to grocery stores, pharmacy, restaurants, downtown area and a stones through to the lake. Lakeport has experienced strong rent growth in the last few years while vacancies remain at a historic low. Perfect for a 1031 exchange buyer looking to grow their portfolio or for an investor looking for a solid investment property.(Sqf, age, permits, property lines, lot size, not verified by agents)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-06-26T00:28:34.993. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Berkshire Hathaway HomeServices California Properties. Licensed in the State of California, USA.
www.kevinhillre.com/homes/127528397
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902 S Forbes Street Lakeport, CA 95453

  • Price: $1,949,000
  • Status: Active Under Contract
  • On Site: 78 Days
  • Updated: 219 min ago
  • ID#: LC22069827
0
Beds
0
Baths
0
½ Baths
0.51
Acres
1988
Built
Neighborhood:
LCLPN - Lakeport North
County:
Lake
Area:
LCLPN - Lakeport North
Property Description
15 Unit multifamily apartment complex in desirable Lakeport location. The building offers varied unit mix comprised of 4- 3BD 1BA, 2- 1BD 1BA, 9-2BD 1.5BA. Units are individually metered for propane and electricity, paid by tenants. All units occupied with several long term tenants. Property is situated on a acre parcel with ample parking options consisting of 15 covered assigned undercover spaces, plus additional 15 uncovered assigned spaces. The property has been under the current ownership for 15 years, and has been maintained and personally managed during this time.Conveniently located and within walking distance to grocery stores, pharmacy, restaurants, downtown area and a stones through to the lake. Lakeport has experienced strong rent growth in the last few years while vacancies remain at a historic low. Perfect for a 1031 exchange buyer looking to grow their portfolio or for an investor looking for a solid investment property.(Sqf, age, permits, property lines, lot size, not verified by agents)
Exterior Features

Carport Spaces 15 Carport YN Yes Construction Materials Wood Siding Fencing Good Condition Lot Features 11-15 Units/AcreCul-De-SacLevel Open Parking Spaces 17 Parking Total 32 Roof Flat

Interior Features

Cooling Central Air Cooling YN Yes Heating Central Heating YN Yes

Property Features

Additional Parcels YN No Cap Rate 6.5 Common Interest None Current Financing None Electric Electricity - On Property Electric Expense 2161 Gross Scheduled Income 194013 Insurance Expense 5106 Land Lease YN No Laundry Features Common AreaLaundry Room Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan1031 Exchange Maintenance Expense 8406 Net Operating Income 127813.44 Number Of Units Leased 15 Operating Expense 66200 Property Sub Type Multi Family Security Features Carbon Monoxide Detector(S) Special Listing Conditions Standard Tax Year 2021 Trash Expense 8906 Utilities Cable ConnectedElectricity ConnectedPropaneSewer ConnectedWater Connected Water Sewer Expense 18142 Water Source Public



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-06-26T00:28:34.993. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Berkshire Hathaway HomeServices California Properties. Licensed in the State of California, USA.
 
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Berkshire Hathaway HomeServices California Properties
25909 Pala Dr, Suite 100
Mission Viejo CA, 92691
Listing Agent(s): Denise Marino of Re/Max Gold Lake County (707-262-5700) and Mary Lunas of Re/Max Gold Lake County(707-262-5700)