Property Listing No Longer Available for Sale

1040 S Edison St, Visalia, CA

Multi-family for Sale - $549,000 - 4,140 Sq. Ft. on 0.33 acres


Property Info

CIMLS#901186
Location
  1040 S Edison St
  Visalia CA 93292
UpdatedOctober 25th, 2016
TypeMulti-family
Price$549,000
Building4,140 Sq. Ft.
Land0.33 acres

Property Description

100% occupied Two Duplex's (4-units) of two-story Multi-Family Apartment housing on .33 Acres of land. Property consists of four buildings for a total of 4140 square feet.

Property has (4) two-bedroom/two-bathroom units that are approximately 779-square feet each with a 256 square feet garage per unit. Each unit is separately metered for gas and electricity and has interior laundry. All units are recently remodeled with new carpet, granite counter tops, stainless steel appliances, and additional upgrades. Tenant pay their own utility & hot water, separate gas & electric meter.

The apartments are located in a very strong rental market. The immediate neighborhood is quiet and primarily single family residential. There is a neighborhood park 2 parcels to the north. The units are spacious. There is lighted secured parking and exterior lighting throughout the community. The property is within a few blocks of elementary schools and excellent Shopping.

Location Description:

Located 0.4 miles from S Ben Maddox Way and Highway 198 South of Noble Avenue, East of Burke Street, North of Tulare Avenue, and West of Ben Maddox Way. Property is in close proximity to Kaweah Delta Hospital, Downtown Visalia, and convenient access to the 180,278 SF Mary's Vineyard Shopping Center anchored by Wal Mart, CVS, and Save Mart Supermarkets. Portfolio addresses include: 1040, 1042, 1108, and 1110 S Edison St, Visalia, CA 93292.

Highlights:

>> 100% Occupied

>> Upscale Freestanding Units

>> Value Add Deal with Upside in Rents

>> Two Bedroom/Two-Bath Units with Private Garages

>> On-Site Laundry

>> Additional Side Parking and Plenty of Street Parking

>> Easy Access On and Off Highway 198

>> Long Term Tenants Secured on Leases

>> Great Income History - Proven Track Record

>> Free and Clear of Debt for New Low Financing

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Financials

Sales Info:

>> Cap rate: 7.52%

>> Commision split: 3.0%

>> NOI: $41310