Residential Income, California | Page 1 -001-11-30T00:00:00-08:00
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410 West MICHELTORENA Street

Price: $5,750,000
Units Total: 12
Lot Size: 16,553
Living Area: 12,014
Year Built: 1968
Parking: Yes
Days on Market: 133
Description: This recently updated 12 + apartment multi-family investment generating a 4% cap return features a 12,014 square foot building with 16 covered parking spaces, onsite laundry, and lovely landscaped grounds. New flooring, updated kitchens / baths, fresh paint and close to market rents with room to grown makes this an excellent opportunity! Assumable financing is available for 50% of the list price.

1173 Fair Oaks Avenue

Price: $5,250,000
Units Total: 28
Lot Size: 60,984
Living Area: 23,370
Year Built: 1980
Parking: Yes
Days on Market: 831
Description: Marketing Remarks: The property consists of 5 buildings, each two story with wood frame and stucco construction. The property has been well maintained and has had recent improvements to both the exterior and interiors. The individual units are well sized with one bedroom and two bedroom units. Common areas include storage, a swimming pool, laundry facility, and a stand alone leasing office. There is abundant off street parking both covered and uncovered. The property includes a greenbelt at rear of property, with potential for additional units. Owner had approved plans for an additional 8 units on back greenbelt, laundry room expansion, and hot tub installation (Plans need update, use permit expired). The property is conveniently located near parks, schools, major retail, and employment. Rents are being raised substantially on turned over units, but there is still significant upside in rents. Selling at $187,500 per unit where single family homes in the neighborhood are selling above $500,000.

1501 Santa Barbara Street

Price: $4,800,000
Units Total: 0
Lot Size: 10,019
Living Area: 0
Year Built: 1960
Parking: 16
Days on Market: 113
Description: Never before on the market, this Iconic Santa Barbara multi-family property is located in the prestigious Upper East neighborhood. Built in 1960 by a highly regarded contractor / architect, D’Alphonso, this well-crafted building has undergone numerous improvements in recent years, including, remodeled units, a new roof with copper detailing, landscaping, paint and water heaters. The building features classic Spanish-style details, front and rear entries, excellent natural light, concrete stairs and decks, large floorplans, on-site laundry, on-site storage and pull under on-site parking. Incredible views of Alice Keck Park, the Riviera and the Santa Ynez mountains and just two blocks from State Street and the theater district. Many under-market tenants are in the building and we ask interested parties not to disturb them. The Seller desires to close escrow by the late 4th quarter of 2018.

San Luis Obispo, 1137 Peach Street

Price: $3,900,000
Units Total: 5
Lot Size: 37,500
Living Area: 5,685
Year Built: 1906
Parking: 0
Days on Market: 441
Description: Great Development potential. Currently 5 homes on one R-2 Parcel in the San Luis Obispo Mill Street Historical District in Downtown. Four 3 bedroom homes and One 2 bedroom with room to add more units. One of the few great downtown development projects. All units are currently lease to provide income during the approval process.

Sierra Madre, 69 East Laurel Avenue

Price: $3,650,000
Units Total: 9
Lot Size: 22,673
Living Area: 0
Year Built: 1924
Parking: 1
Days on Market: 71
Description: 9 Residential units in Sierra Madre (public records reflect 10 units). Walk to Kersting Court.

Paso Robles, 717 Creston Road

Price: $3,500,000
Units Total: 8
Lot Size: 18,000
Living Area: 7,200
Year Built: 1986
Parking: 16
Days on Market: 191
Description: Great Opportunity. 8 units, 4 buildings, 8 2 bedroom 1.5 bath units. Professionally managed and maintained with care and concern. All units sold together. Large parking area, covered parking as well. These units have been will cared for by the existing owners. This is a rare find in Paso Robles, with this city not having many rental units. The median Rental value for a 2 bedroom home is about $2200 per month in San Luis Obispo County per the tracking from Zillow. These units are close to schools, shopping and transportation. Great 1031 exchange potential.

Santa Barbara, 114 Natoma Avenue

Price: $3,295,000
Units Total: 0
Lot Size: 9,148
Living Area: 0
Year Built: 1928
Parking: Yes
Days on Market: 20
Description: Amazing opportunity to own a wonderful beach property that sits in thehighly sought after West Beach Neighborhood and was once known asthe ”Ambassador Sulphur-Baths”. The black and gold tiles that announcethe property remain in the curbside steps. This Spanish Colonial-styleapartment complex is just a couple blocks from downtown Santa Barbaraand just steps from the gorgeous sand and waterfront. This charmingproperty is located near parks, the harbor, Stearns Wharf, Funk Zone, restaurants, transportation, as well as many cultural opportunities toexplore. Wonderful unit mix of (5) 1 BD / 1BA and (3) studios. Five of eight units have been remodeled. The ”WalkScore” for this complex is 83 (very walkable) and a bike score of 99 — abiker’s paradise! This complex is very desirable for potential tenants.

Santa Barbara, 114 NATOMA Avenue

Price: $3,295,000
Units Total: 8
Lot Size: 9,148
Living Area: 3,920
Year Built: 1928
Parking: Yes
Days on Market: 6
Description: Amazing opportunity to own a wonderful beach property that sits in the highly sought after West Beach Neighborhood. This 8 unit complex is just a couple of blocks from the sand and gorgeous waterfront. The charming property is located near parks, the harbor, Stearns Wharf, FunkZone, restaurants, transportation as well as many cultural opportunities to explore. Wonderful unit mix of (5) 1bd / 1ba, (3) studios. Please do not disturb the tenants.

Isla Vista, 6745 Del Playa Drive

Price: $3,250,000
Units Total: 4
Lot Size: 13,503
Living Area: 4,800
Year Built: 1967
Parking: Yes
Days on Market: 355
Description: PRICE REDUCED TO 7% CURRENT CAP RATE. An exceptional price. Landlord leaving the State. Del Playa Apartments is a well maintained 4-unit (30 Bed) student housing complex that consists of two 2-story buildings in the neighborhood of Isla Vista, California. Set on a combined 13,503 square foot lot, the 4,800 combined square foot property offers 15 bedrooms with a total of 30 beds at a current monthly income of $27,010. Built in 1967, the properties are non-rent-controlled, adjacent to UC Santa Barbara, have spectacular ocean views, partially updated kitchens and bathrooms, balconies, large living rooms, ample storage and parking. Del Playa Apartments is located along Del Playa Drive between Camino Corto to the west and Camino Del Sur to the east. The property overlooks the beach to the south and Sabado Tarde Road is just north.

San Luis Obispo, 3229 Broad

Price: $3,240,000
Units Total: 8
Lot Size: 26,000
Living Area: 11,250
Year Built: 2013
Parking: 0
Days on Market: 180
Description: This Mixed-Use property can be purchased with OWNER FINANCING. Owner will consider up to 50% carry back to all qualified Buyers. This property is well designed offering unique architectural lines and function. The outstanding location offers tenants easy access to multiple ethnic restaurants, a micro brewery and a range of services and retail outlets. This mixed-use development might be ideal for an owner user. The residential income is approximately $100,000.00 per year. The eight units are very spacious, with 6 (1) Bedroom (1) bath units and 2 (3) Bedroom (2) Bath units. The commercial / retail building is currently being re-entiled into up to 6 commercial condos by Above Grade Engineering. The location would be ideal for an engineering firm, Tech Company, CPA, architects, legal, real estate or other professional services company. Seller is in the process of entitling the Commercial building into up to 6 Commercial Condos FOR SALE at market rates. Take advantage of the opportunity to leverage this asset with OWNER FINANCING now!

Santa Barbara, 163 La Cumbre Road

Price: $3,175,000
Units Total: 0
Lot Size: 13,503
Living Area: 0
Year Built: 1968
Parking: 6
Days on Market: 134
Description: We are pleased to present this wonderful 10- unit asset located in the Hope neighborhood. First time on the market in more than 10 years! Nestled in a prime location near Sansum Clinic, Wells Fargo, Montecito Bank and Trust, Five Points Shopping Center, Whole Foods, Starbucks, La Cumbre Plaza, and Target–scheduled to open this fall. Nearby schools include Little Angels Preschool, Hope Elementary, Monte Vista Elementary and La Colina Jr. High School. The property offers a unit mix of (9) 1-bedroom, 1-bath apartments, (1) 2-bedroom, 1-bath house, carport parkingand a common laundry room for tenants. The lower units feature private, fenced outdoor patios and the house has a large fenced yard. Easy access to the 101 Fwy. And Hwy. 154. Rents are under-market providing lots of rental upside.

163 North LA CUMBRE Road

Price: $3,075,000
Units Total: 10
Lot Size: 13,504
Living Area: 8,710
Year Built: 1970
Parking: 6
Days on Market: 76
Description: Wonderful 10-unit asset located in the Hope Neighborhood. This is the first time this property has been on the market in 25 years! Nestled in a prime location near Samsun Clinic, Wells Fargo, Montecito Bank and Trust, Bank of the West, the world-famous Chuck’s of Hawaii, Lure Fish House, Islands, Five Points Shopping Center, Whole Foods, Starbucks, La Cumbre Plaza, and Target- scheduled to open this fall. Nearby schools include Little Angels Preschool, Hope Elementary, Monte Vista Elementary and La Colina Jr. High School. The property offers a unit mix of (9) 1BD / 1BA apartments and (1) 2BD / 1BA house, plus carport parking and a common laundry room for tenants. The house features a large fenced yard and the separate one-bedroom unit offers a private entry and personal outdoor space. Lower units feature private and fenced outdoor patios. Easy access to the 101 Fwy. And Hwy. 154. Rents are under-market, providing exceptional rental upside to a new owner.

318 Voluntario Street

Price: $2,600,000
Units Total: 0
Lot Size: 11,761
Living Area: 0
Year Built: 1966
Parking: Yes
Days on Market: 146
Description: Eight unit apartment building located close to the beach, shopping, Montecito and downtown Santa Barbara. The property consists of large units totaling approximately 5,550 square feetand provides for a unit mix of two 2BD / 1BA units and six 1BD / 1BA units. Recent upgrades include (but are not limited to) a newer roof, newer dual pane windows, new exterior paint, newplumbing (in portions), newer flooring, and newer appliances. Additionally, the property offers an onsite laundry room, 11 onsite parking stalls, separate gas and electric meters for each unit and leases that allow for a utility reimbursement from the tenants for water sewer and trash in excess of $500 per month. Great opportunity to buy a stabilized apartment investments withrealistic upside in obtaining increases in all the rents.

Oceano, 1111 North Strand Way

Price: $2,500,000
Units Total: 3
Lot Size: 5,980
Living Area: 3,920
Year Built: 2016
Parking: 4
Days on Market: 365
Description: Marketing Remarks: Appraised for $2,500,000. Appraisal was paid for by potential buyer, not owner. Compare to any LEED Beachfront units! Perfect for Multigenerational Families! 3 Units. Solar ( $50,000 PAID for and included), On Demand Hot Water, Ductless Heating, Tankless Water Heater, built to LEED specifications, Passive Solar Design, 18 foot high ceilings, 2 x 6 fully insulated and sound proofed walls, and more! Commercial Zoning. $640 all utilities (EMAIL for Income / Expenses since completed March of 2016). 3 Units: $4,000 / Unit A, $1,638 sq.ft, leased 1 year; $3,750 / Unit B, leased 1,820 sq ft; $2,000 / Unit C leased, 462 sq.ft. Email for Vacation Rental Projections: Unit A $73,000, Unit B $73,000, Unit C $40,000. All furnishings and appliances to be INCLUDED. Make offer. Assumable loan of $1,420,000. Trades or exchanges?

316 South Halcyon Road

Price: $2,421,500
Units Total: 8
Lot Size: 34,412
Living Area: 8,776
Year Built: 2015
Parking: 4
Days on Market: 89
Description: Total of 8 rental properties including shed / barn structure which generates income for storage. Arroyo Grande (Multi-Residential and Commercial Property) arrives! 5 residences w / three houses, one duplex, and A NEWLY ADDED TWO STORY DREAM BUSINESS STRUCTURE BUILDING FOR TWO BUSINESSES. Separately gas and electric metered. Work your business while rentals subsidize cash flow Includes new buiilt / remodeled buildings, homes and more. Improvements remain beyond fabulous and strategically located across from Arroyo Grande Community Hospital. Please refer to the attachment for future build-outs of duplex, and a medical facility where the eastern-most home currently exists. Total of 24 parking spaces on the property; four covered. Four of the five homes featuring 2 bdrms and 1 bths, the fifth home has 2 bathrooms. All kept in excellent condition. THE BUSINESS / COMMERCIAL PORTION FEATURES TWO PREMIUM BUSINESS SPACES NEWLY BUILT W 2810 ADDITIONAL SF. Total Currently rented for $9424 per month. The total (eight) structures and all are rented with long-term renters at below market values. Possible medical office space, and existing plans for a new two story duplex included with the sale. A lot-split is in the works. All residential units 312,316,320,324 and 328 have washer / dryer hookups gas and electric. Great location! Remember what Mom and Warren Buffet always say: LOCATION, LOCATION, LOCATION! What are you waiting for? Have your agent, write up a complete offer. Perfect landing for a tax-exchange

Alhambra, 304 South Chapel Avenue

Price: $2,325,000
Units Total: 9
Lot Size: 19,792
Living Area: 0
Year Built: 1954
Parking: 6
Days on Market: 71
Description: PRICED TO SELL – $175K PRICE REDUCTION! AGGREGATE INVESTMENT PARTNERS of KW Commercial is pleased to present the opportunity to purchase this non-rent control 9 units multifamily apartment complex located at 304-306 S. Chapel Avenue in the city of Alhambra, California. It is a rare opportunity for an investor to own in this highly desirable area of Alhambra. The property consists of five bungalow style single-story apartments with huge upside in rental potential. Building size is + / -5,400 sq.ft, sitting on a large + / -19,792 sq.ft lot. Furthermore, the unit mix consists of one 2 Bed + 1.5 Bath, and eight 1 Bed + 1 Bath. There are open parking on the side and back of the property along with garage spaces. The property is conveniently located with close proximity to 99 Ranch Market, LA Fitness, Almansor Park, Main Street movie theater and restaurants, with easy access to the 10 and 710 freeways. The large lot presents development potential for additional units (buyer to verify with City of Alhambra). Please download the OM from MLS or LoopNet for rent roll and details.

Glendale, 3512 Stancrest Drive

Price: $2,100,000
Units Total: 4
Lot Size: 12,098
Living Area: 0
Year Built: 1952
Parking: 4
Days on Market: 35
Description: People wait for years for an opportunity to own in the Valihi area of Montrose. This small neighborhood contains some of the loveliest triplex and fourplex units in the entire Foothills area. Pride of ownership buildings attract the highest quality, long term tenants. And people love living just steps from shopping, entertainment, gorgeous Montrose Community Park, transportation and top schools. This particular building sits on an unusually large lot set high above the street for privacy, views and air. The Mid Century Ranch style presents as a large single family home from the street, but is actually 4 spacious units that share no common side walls. There are 2 attached double garages, a laundry room, spacious front lawn and a common upper level covered patio. Long term tenants are month to month.

Arroyo Grande, 210 Oak St.

Price: $1,990,000
Units Total: 0
Lot Size: 12,702
Living Area: 6,000
Year Built: 1984
Parking: 10
Days on Market: 166
Description: The possibilities are endless with this wonderful Commercial Property located in the heart of the Central Coast. Sitting just outside the Historic Village of Arroyo Grande is this 6,000 square foot commercial property configured with 10 bedrooms, 8-1/2 baths, a large dining room with fireplace, a full kitchen, and a large family room with fireplace and french doors opening to fully landscaped gardens. The bedrooms are large and include unique architectural and interior design features. The property itself consists of two parcels totaling nearly 1/3 of an acre, and has excellent visibility from US Highway 101. The grounds are fully fenced and very private, and include a 10-space paver-stone parking lot, 2 lovely gardens with lawns and mature fruit trees, a gorgeous gazebo, and a 50-foot stream with waterfalls and koi ponds.   The property was used as a bed and breakfast inn for 23 of the last 29 years and still maintains a 3.6 diamond rating for it’s suites from the Automobile Club of Southern California. This property is well suited for use as a unique Boutique Hotel, Air B and B, Restaurant and Events Location. Other possible uses include office space, multifamily apartment complex, senior care facility, coffee / beer / wine location, wedding venue, and so on. Bring your imagination, or adopt the previous owners’ creation as your own!

Santa Barbara, 1530 Bath Street

Price: $1,985,000
Units Total: 0
Lot Size: 6,534
Living Area: 0
Year Built: 1960
Parking: 4
Days on Market: 163
Description: Great opportunity to own this attractive 5-unit complex in the desirable Oak Park neighborhood. Located just a few blocks from downtown Santa Barbara’s restaurants, theaters, public transit and easy freeway access making it highlydesirable for potential tenants. The unit mix consists of (2) 2BD / 2BA and (3) 1BD / 1BA units, with on-site common laundry and 6 carport parking spacesplus an additional parking space (not covered), new dual pane windows andnew landscaping. All units are separately metered for gas and electricity. Apartment #2, a 2BR / 2BA unit, features major upgrades with new appliances, baseboards, doors, two tone paint, modern fixtures, LED lighting and more. With its excellent location, laundry facilities and carport parking, this small complex offers a great investment to add to an existing portfolio or the perfect opportunity for a first time investor.

Santa Barbara, 1031 Del Sol Avenue

Price: $1,925,000
Lot Size: 8,712
Year Built: 1934
Parking: Yes
Days on Market: 78
Description: 3 houses on one lot. Zoning R2. Buyer to satisfy themselves with the city. 1029 Del Sol is an adorable 1 bedroom 1 bath cottage rented as Air B and B for 2400-2900 per month. 1031 Del Sol (needs work) rents for $2825 per month1035 Del Sol is a 3 bedroom 1.5 bath and rents for 3075.00 per month

South Pasadena, 648 Arroyo Drive

Price: $1,900,000
Units Total: 2
Lot Size: 11,541
Living Area: 0
Year Built: 1948
Parking: 2
Days on Market: 61
Description: This is a remarkable property overlooking the scenic arroyo vista in South Pasadena. To drive by this property and not see it in it’s entirety does not do it justice. It features two homes on a lot. The front house is a 1,652 square foot 1970’s Ranch style home whose entry way opens into a spacious living-dining area with a cheerful fireplace. There is a master bedroom and bath, plus 2 additional bedrooms. You will find an additional full bathroom, plus a laundry closet. The back house is a 1,269 square foot charming 3 bedroom, 1 bath 1940’s cottage that is shaded by trees. Sit back and relax on the vine covered front porch before you step into the large living room with a brick fireplace and tile hearth. A bright sunny kitchen is at the back. The square footage on this cottage is including the the bonus room. Two additional offices / studios are on the premises. This property is adjacent to the Arroyo Seco Golf Course. Open House Scheduled for Sunday, August 26, from 2: 00 – 4: 00 pm.

Pismo Beach, 2565 Solano Road

Price: $1,719,000
Units Total: 4
Lot Size: 6,200
Living Area: 3,648
Year Built: 1970
Parking: 4
Days on Market: 13
Description: Rare opportunity to purchase this four-plex in beautiful Shell Beach! Located in the desirable Spyglass neighborhood, this building features four 900 square foot units, each with 2 bedrooms, and 1 bath. The building also includes a community coin operated laundry room, and separate utilities. Easy northbound and southbound access to Hwy 101. Just minutes to San Luis Obispo, Arroyo Grande, Santa Maria, and the Edna Valley wine country.

Morro Bay, 16366 Morro Road

Price: $1,695,000
Units Total: 4
Lot Size: 871,200
Living Area: 6,650
Year Built: 1992
Parking: 10
Days on Market: 51
Description: 20 acres with 4 residential units, half way between Morro Bay and Atascadero. Backing to National Forest with a lovely marine influence 3 beautifully maintained residential buildings and a mobile home reside on this property with seasonal Morro Creek running through it. Possibilities include retreat center, rental income, extended family or multiple family residences. There is a very good well on the property with gravity feed from tank on the hill. The main home is 2750 sq.ft with 3br, 3 ba and open floor plan. It features skylights, multipurpose sun room, loft, patios and covered deck. The kitchen has a walk in pantry and view of beautiful oaks forest. The master BR has vaulted redwood ceilings, and opens to a large flagstone patio. The third BR could also be used as a studio suite, has it’s own kitchenette, bath, deck, and patio. The duplex has two 1000 sq.ft units with creek views. Each unit is a 2 br 1 bath with decks and patios. The third structure of 2400 sq.ft also overlooks the Creek. The upper level apartment is approximately 1200 sq.ft and has 1 br 1 bath with additional bedroom and half bath downstairs off the garage / workshop. There are many potential uses for the shop and garage areas susch as storage / wine cellar / art studio / ceramic studio or vehicle storage. The 2 br 2 bath mobile home is very charming and private. All units are private and separated from each other. Great potential uses and income for this property. Information not verified.

Altadena, 20 East Mariposa Street

Price: $1,650,000
Units Total: 1
Lot Size: 9,352
Living Area: 0
Year Built: 1936
Parking: 0
Days on Market: 343