32 Unit Multi-Family Investment

Highlights:

• Current rent is 18.9% under market based on rental market survey
• Highly desirable unit mix
• Centrally located for dining, and entertainment
• Education: convenient location for students and parents
• Workforce from nearby higher education

Description:

Built in 1985, the property is conveniently located off Hwy 198, just one mile south of Coalinga’s main grocery and retail center, featuring strong national tenants that include Starbuck’s, Dollar Tree, McDonald’s and Save Mart. Opportunistically priced at $2,667,000 ($83,344/unit), this multi family investment is uniquely positioned to attract savvy investors who are competing to find realistic upside within a turn-key property. The highly attractive unit mix showcases 50% 2 Bedroom/1 Bath units and 50% 3 Bedroom/2 Bath units.

The subject property is located directly at the corner of Hwy 198, Coalinga’s busiest thoroughfare, and Lucille Avenue. Using Hwy 198, the property has easy access to major highways including Interstate 5 and Hwy 33 and is advantageously positioned within a brief 5-minute drive (1.8 miles) to the West Hills College campus. Elm Tree Estates is a short commute to the local elementary school (Sunset Elementary), middle school (Coalinga Middle School), and high school (Coalinga High).

This property offers significant upside from increasing rents (when leases turnover). Since acquiring the property, the owner has renovated this investment property, which will provide the new owner with immediate opportunity to maximize NOI in Year 1. The ideal investor will appreciate the value this investment adds to the surrounding community, and with the incentive of improving cashflow on this investment, will take pride in owning this property

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