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1001 5th Street

Lincoln, CA 95648
  • $1,450,000
  • STATUS: Active
  • ON SITE: 53 days
  • MLS #: 221038631
UPDATED: 27 min ago
$1,450,000
  • 0
    BEDS
  • 0.3
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1960
County:

School Information

Elementary School:
Middle School:
High School:
School District:

Description

The Subject Property presents a stabilized-income opportunity with a favorable unit mix of SIX one-bedrooms, ONE studio and ONE two-bedroom unit. Below market rents and instituting RUBs offers potential for immediate upside. Nicely cared for complex with pride of ownership in high growth Placer County market. The year-one capitalization rate based on a $1,450,000 purchase price is 4.15% with proforma capitalization rate of 6.72% achievable by steadily increasing the below market rents. Priced at approximately $181,250 per door, this one-of-a-kind property is below replacement cost and a great long-term and stable investment. The property currently generates a gross annual income of $99,120, inclusive of RUBS to be implemented by Buyer, and a net operating income of $60,238.

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© 2021 MetroList® MLS. All rights reserved. All measurements and all calculations of area are approximate. Information provided by Seller/Other sources, not verified by Broker. All interested persons should independently verify accuracy of information. Provided properties may or may not be listed by the office/agent presenting the information. Data last updated 2021-06-14T11:39:23.603. MetroList® MLS Terms of Use. IDX provided by BoomTown.
www.sacramentoareahomefinder.com/homes/116324381
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1001 5th Street Lincoln, CA 95648

  • Price: $1,450,000
  • Status: Active
  • Updated: 27 min ago
  • MLS #: 221038631
0
Beds
0
Baths
0
½ Baths
0.3
Acres
1960
Built
Neighborhood:
WestLinc W:Hwy65/N:&W:&S:Cty lim
County:
Placer
Area:
WestLinc W:Hwy65/N:&W:&S:Cty lim
Elementary School:
Western Placer
Middle School:
Western Placer
High School:
Western Placer
School District:
Placer
Property Description
The Subject Property presents a stabilized-income opportunity with a favorable unit mix of SIX one-bedrooms, ONE studio and ONE two-bedroom unit. Below market rents and instituting RUBs offers potential for immediate upside. Nicely cared for complex with pride of ownership in high growth Placer County market. The year-one capitalization rate based on a $1,450,000 purchase price is 4.15% with proforma capitalization rate of 6.72% achievable by steadily increasing the below market rents. Priced at approximately $181,250 per door, this one-of-a-kind property is below replacement cost and a great long-term and stable investment. The property currently generates a gross annual income of $99,120, inclusive of RUBS to be implemented by Buyer, and a net operating income of $60,238.
Exterior Features

Carport Spaces 0 Construction Materials Wood Covered Spaces 0 Foundation Concrete Independent Parking Spaces 0 Lot Features Court Num Of Floors 1 Num Of Guest Spaces 0 Open Parking Spaces 0 Parking Features Off Street Tandem Parking Spaces 0 Total Parking Spaces 0

Interior Features

Cooling Window Unit(S) Flooring LinoleumWood Heating Wall Furnace Laundry Features Coin Operated Num Of Rooms 0 Num Of Studio Units 1 Num Of1 Bedroom Units 6 Num Of2 Bedroom Units 1 Num Of3 Bedroom Units 0 Num Of4 Bedroom Units 0 Unit1 Approx Sq Ft 800 Unit1 Bedrooms 2 Unit1 Full Baths 1 Unit1 Partial Baths 0 Unit1 Rent 1295 Unit1 Rooms 4 Unit2 Approx Sq Ft 0 Unit2 Bedrooms 0 Unit2 Full Baths 0 Unit2 Partial Baths 0 Unit2 Rent 0 Unit2 Rooms 0 Unit3 Approx Sq Ft 0 Unit3 Bedrooms 0 Unit3 Full Baths 0 Unit3 Partial Baths 0 Unit3 Rent 0 Unit3 Rooms 0 Unit4 Approx Sq Ft 0 Unit4 Bedrooms 0 Unit4 Full Baths 0 Unit4 Partial Baths 0 Unit4 Rent 0 Unit4 Rooms 0

Property Features

1 Bedroom Annual Occupancy 0 2 Bedroom Annual Occupancy 0 3 Bedroom Annual Occupancy 0 4 Bedroom Annual Occupancy 0 Association Fee 0 Association YN No Electric 220 Volts Elevation 0 Income Includes Rent Only Irrigation Meter On Site Lease Deposit 0 Num Of Commercial Units 0 Operating Expense Includes Other Property Subtype 5 Or More Units Property Type Residential Income Sewer Public Sewer Special Listing Conditions None Studio Annual Occupancy 0 Subtype Description Apartments Tenant Pays Other Utilities City Water Source Meter On Site Zoning R-3

Listing provided courtesy of Ken Turton, Broker. Listing information © 2021 MetroList Services, Inc.


© 2021 MetroList® MLS. All rights reserved. All measurements and all calculations of area are approximate. Information provided by Seller/Other sources, not verified by Broker. All interested persons should independently verify accuracy of information. Provided properties may or may not be listed by the office/agent presenting the information. Data last updated 2021-06-14T11:39:23.603. MetroList® MLS Terms of Use. IDX provided by BoomTown.
 
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Joanie Cowan - Keller Williams Realty
548 Gibson Drive
Roseville CA, 95678