Skip To Content

337 North K St

Lompoc, CA 93436
  • $995,000
  • STATUS: Active Under Contract
  • ON SITE: 47 Days
  • ID#: PT24087831
Under Contract
UPDATED: 168 min ago
$995,000
  • 0
    BEDS
  • 0.16
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1960
County:

School Ratings & Info

Listing Agent(s): Varinder Kumar of Coldwell Banker West (619-271-9500)


Description

Discover a remarkable investment opportunity with this fully remodeled 4-unit multifamily property located in the heart of Lompoc, CA. Live in one unit while the others generate income! Investment Highlights:Extensively renovated with modern finishes, including new kitchens, bathrooms, bedrooms, as well as new exterior and interior paint.Efficient unit layout with appealing floor plans and great floor-to-ceiling height.Includes 3 new dryers and 2 washers, enhancing tenant convenience.Tenants are responsible for electricity, gas, sewer, and trash expenses, minimizing operating costs for the owner. This property presents an attractive 6.6% CAP rate with a pro forma CAP rate of 8%, showcasing its potential for significant income growth.Square Footage: 2,496Lot Size: 6,970 SFUnit Composition: 3 units with 2 beds & 1 bath each (672 SF each) and 1 unit with 1 bed & 1 bath (480 SF)Current Rental Income: $7,950/monthFuture Rental Income (Post June 1, 2024): $8,521/monthParking: 4 spacesYear Built: 1960, Renovated in 2023Location Benefits:Situated in Lompoc, CA, a city known for its thriving economy and significant growth. Close to notable economic drivers such as the Trident Missile Program and Vandenberg Space Force Base. Supported by economic development initiatives and the Lompoc Valley Chamber of Commerce, aiming to attract businesses and create job opportunities. This property is a perfect match for investors seeking to capitalize on Lompoc's growing market while enjoying the benefits of a fully remodeled, turnkey investment. With its strategic location, modern amenities, and strong income potential, this multifamily opportunity is poised to be a valuable addition to any investment portfolio.

Monthly Payment Calculator



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-06-19T00:28:42.477. 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 Mainstreet Realtors®. Licensed in the State of California, USA.
www.mainstreetgroup.com/homes/150143513
Print Image

337 North K St Lompoc, CA 93436

  • Price: $995,000
  • Status: Active Under Contract
  • On Site: 47 Days
  • Updated: 168 min ago
  • ID#: PT24087831
0
Beds
0
Baths
0
½ Baths
0.16
Acres
1960
Built
Neighborhood:
South East Lmpc(52)
County:
Santa Barbara
Area:
LOMP - Lompoc
Property Description
Discover a remarkable investment opportunity with this fully remodeled 4-unit multifamily property located in the heart of Lompoc, CA. Live in one unit while the others generate income! Investment Highlights:Extensively renovated with modern finishes, including new kitchens, bathrooms, bedrooms, as well as new exterior and interior paint.Efficient unit layout with appealing floor plans and great floor-to-ceiling height.Includes 3 new dryers and 2 washers, enhancing tenant convenience.Tenants are responsible for electricity, gas, sewer, and trash expenses, minimizing operating costs for the owner. This property presents an attractive 6.6% CAP rate with a pro forma CAP rate of 8%, showcasing its potential for significant income growth.Square Footage: 2,496Lot Size: 6,970 SFUnit Composition: 3 units with 2 beds & 1 bath each (672 SF each) and 1 unit with 1 bed & 1 bath (480 SF)Current Rental Income: $7,950/monthFuture Rental Income (Post June 1, 2024): $8,521/monthParking: 4 spacesYear Built: 1960, Renovated in 2023Location Benefits:Situated in Lompoc, CA, a city known for its thriving economy and significant growth. Close to notable economic drivers such as the Trident Missile Program and Vandenberg Space Force Base. Supported by economic development initiatives and the Lompoc Valley Chamber of Commerce, aiming to attract businesses and create job opportunities. This property is a perfect match for investors seeking to capitalize on Lompoc's growing market while enjoying the benefits of a fully remodeled, turnkey investment. With its strategic location, modern amenities, and strong income potential, this multifamily opportunity is poised to be a valuable addition to any investment portfolio.
Exterior Features

Entry Level 1 Entry Location 1 Lot Features Front YardLawnLandscapedYard Number Of Separate Electric Meters 4 Parking Total 0 Pool Features None Pool Private YN No Property Attached YN Yes Roof Shingle Spa Features None Spa YN No View None View YN No

Interior Features

Common Walls 2+ Common Walls Cooling Wall/Window Unit(s) Cooling YN Yes

Property Features

Additional Parcels YN No Common Interest None Community Features Sidewalks Garage YN No Gross Income 95400 Gross Scheduled Income 95400 Insurance Expense 2100 Land Lease YN No Laundry Features Common Area Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash to New LoanConventional Net Operating Income 65884 New Construction YN No Number Of Separate Gas Meters 4 Number Of Separate Water Meters 5 Operating Expense 0 Property Sub Type Quadruplex Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays All Utilities Trash Expense 0 Water Sewer Expense 2400 Water Source Public



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-06-19T00:28:42.477. 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 Mainstreet Realtors®. Licensed in the State of California, USA.
 
https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_372715913-2.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_372715913-2.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_372715913-2.jpg
Logo
Mainstreet Realtors®
8577 Haven Ave, Suite 100
Rancho Cucamonga CA, 91730
Listing Agent(s): Varinder Kumar of Coldwell Banker West (619-271-9500)