A unique Apartment/Condominium Community built with PD zoning.

24 Units: 22 Townhouse Style Homes / 2 Single Floor Units.

Unit Mix: 8 - 2 bedroom, 1.5 bath units / 16 - 3 bedroom, 1.5 bath units (11 of the 3 bedroom, 1.5 bath units are extra large) / all of the 3 bedroom units have private garages and Washer/Dryer hook ups.

Tenant Mix: 2 tenants are on Public Housing Support, 22 traditional rent tenants.

All units individually metered for ALL utilities: Water, Gas & Electric. Cable TV is available.

Units have public water.

Potential to convert units to condominiums. Condo Conversion Application has been filed with the county.

Coin operated laundry available on site for all tenants. Laundry machines are owned.

All units have: oak cabinets, self cleaning stoves, dishwashers, disposals, built-in microwaves, refrigerators, forced air heating, air conditioners, carpets, linoleum and/or vinyl flooring and private enclosed patios (except for the unit located over the handicap unit).

The insurance company states the cost to rebuild is $3,858,883.

Location Description:

Located on 3.8 acres. The units are located in a very upscale community of Gayla Manor in Pine Grove, California. The units are the only large apartment complex in Pine Grove. Part of the parcel is undeveloped. There may be potential for future development. Units are a few miles from the Jackson Rancheria Casino and Complex. The town of Pine Grove is approximately 8 miles east of Jackson, CA. Views of mountains and pine trees. Easy drive to Kirkwood Ski area, streams for fishing and other mountain recreation.

Highlights:

>> 24 Units: 22 Townhouse Style Homes / 2 Single Floor Units.

>> Stable Management in place.

>> TREMENDOUS UPSIDE POTENTIAL THROUGH CONVERSION TO CONDOMINIUMS AND FUTURE DEVELOPMENT OF EXCESS LAND.

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Sales Info:

>> Commision split: 3.0%