This action might not be possible to undo. Are you sure you want to continue?
14-Unit Multi-Family Investment Offering
Subject Property Address VIP Apartments 536 N. U Street Lompoc, CA 93436 Location Highlights Offering Summary Great rental pocket in the Lompoc area. Located near shopping, transportation, walking distance to public schools and employment opportunities. Investment Highlights No rent control! Great curb appeal showing pride of ownership! Great opportunity for an income property investment with low maintenance/upkeep Recently Renovated! 2-story building with stairway access 1031 Tax Exchange Opportunity!
Price: Down Payment: Units: Price Per Unit: Rentable SF: Price Per SF: Year Built: Lot Size: ACTUAL Cap Rate: ACTUAL GRM: ACTUAL Cash Flow w/o Debt Service: Rental Income PSF: Average Rent Per Unit: $1,295,000 100% 14 $92,500 8,700 $149 (R) 2007 13,969 7.86% 10.28 $101,757 $14.48 $750
RE/MAX of Valencia, 25101 The Old Road, Santa Clarita, CA 91381 Cellular: 1.661.406.4682 Email: info@LennarzCommercial.com Web: LennarzCommercial.com
Subject Property Address: 536 N. U Street, Lompoc, CA 93436
Investment Overview Unit Type The "VIP Apartments" are a 14-Unit Multi-Family investment property located in the City of Lompoc in the County of Santa Barbara. Situated in a nice rental pocket area minutes away from local schools, shopping, local employment and surrounding area employment opportunities, including Vandenberg Air Force Base. The property consists of 4 units that are 2 bedroom, 1 bath, and 10 units that are 1 bedroom, 1 bath residences. The property was recently renovated in 2007. The structure is approximately 8,700 square feet and the lot size is approximately 13,939 square feet. This property has great curb appeal an is in great condition. It has been recently renovated and provides an investor with an excellent opportunity to acquire a stabilized asset for future investment growth and capital accumulation. Unit Mix # of Units Rent/Unit Monthly Annual
2 Bed/1 Bath 1 Bed/1 Bath Total Units: Average Rent Per Unit:
4 10 14
$3,500 $42,000 $7,000 $84,000 $10,500 $126,000
Operating Data Income Summary (Annual): GSI: Other Income: POI: less V&C 5% EGI: less Expenses: NOI: $126,000 $4,800 $130,800 $6,300 $119,700 $17,943 $101,757
Expense Summary (Annual): Total Expenses: % of EGI: Expenses Per Unit: Expenses Per SF: $27,181 22.71% $1,942 $3.12
Exclusively Represented By...Francis X. Lennarz, Investment Advisor, & Donna Bingham, RE/MAX Commercial Cellular: 1.661.406.4682