Property Listing No Longer Available for Sale

59 S Indiana St, Porterville, CA

Multi-family for Sale - $925,000 - 18,000 Sq. Ft. on 49299.44 acres

Property Info

  59 S Indiana St
  Porterville CA 93257
UpdatedJuly 24th, 2016
Building18,000 Sq. Ft.
Land49299.44 acres

Property Description

100% occupied Four 4 Plex's (16-units) of single-story Multi-Family Apartment housing on 1.2 Acres of land. Property consists of four buildings for a total of 18,000 square feet.

Property has 8 two-bedroom/one-bathroom units that are approximately 870-square feet each and 8 three-bedroom/two-bathroom units that are approximately 1,078-square feet each. Each unit is separately metered for gas and electricity and an on-site laundry facility with two washer and two dryers for additional income. All units are remodeled, tenant pay their own utility & hot water, separate gas & electric meter.

The Indiana Street Apartments are located in a very strong rental market. The immediate neighborhood is quiet and primarily single family residential. The units are spacious. There is lighted covered parking and exterior lighting throughout the community. The property is within a few blocks of elementary schools and Porterville High School.

Location Description:

in Close proximity to West Putnam Elementary School, Bartlett Middle School, and Porterville High School.


>> 100% Occupied

>> Value Add Deal with Upside in Rents

>> Two Bedroom/One-Bath Units and Three-Bedroom/Two-Bath Units

>> On-Site Laundry Facility

>> Carports and Plenty of Street Parking

>> Easy Access On and Off Highway 65

* Email for additional photos


Sales Info:

>> Cap rate: 9.57%

>> Commision split: 3.0%

>> NOI: $88490

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