$ 1,795,000
- MLS #
240099 - Type
Four Plus - Status
Active-Price Chg
- Interested in this property?
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Suzanne Baker
Description
Price reduced! Terrific 8-unit apartment building in convenient location off of Old Mammoth Road in Mammoth Lakes, California. Approx 14.74 Gross Rent Multiplier (GRM). This property consists of 3 buildings and offers a mix of (4) 1-bedroom + 1 bath units and (4) studio units + 1 bath units, historically in high demand. Rarely a vacancy! Separately metered for electricity and gas. Some units recently upgraded with new flooring and paint. Each unit with balcony area. Metal roof and nicely maintained. Additionally, there’s potential for increased revenue as units currently rented below market rates. The property also features a double lot, providing space for snow storage during winters and shuttle bus stop across the street. Owners unit, intentionally left vacant, with upgraded quartz countertop, stainless steel appliances, new flooring, paint, electric heater and upgraded bathroom. A rare find for this great condition investment property!
Rooms & Units Description
- Number of Rooms: 8
- # of Units: 8
- Unit 1 Approx Sq Ft: 500
- Unit 1 Monthly Rent: 1270
- Unit 1 # of Bedrooms: 1
- Unit 1 # of Baths: 1
- Unit 1 Furnished Y/N: No
- Unit 2 Approx Sq Ft: 500
- Unit 2 Monthly Rent: 1700
- Unit 2 # of Bedrooms: 1
- Unit 2 # of Baths: 1
- Unit 2 Furnished Y/N: No
- Unit 3 Approx Sq Ft: 500
- Unit 3 Monthly Rent: 1265
- Unit 3 # of Bedrooms: 1
- Unit 3 # of Baths: 1
- Unit 3 Furnished Y/N: No
- Unit 4 Monthly Rent: 1035
- Unit 4 # of Bedrooms: 1
- Unit 4 # of Baths: 1
- Unit 4 Furnished Y/N: No
- Unit 4 Approx SqFt: 500
- Unit 5 Approx SqFt: 400
- Unit 5 Monthly Rent: 1072
- Unit 5 # of Bedrooms: studio
- Unit 5 # of Baths: 1
- Unit 5 Furnished Y/N: No
- Unit 6 Approx Sq Ft: 400
- Unit 6 Monthly Rent: 1155
- Unit 6 # of Baths: 1
- Unit 6 # of Bedrooms: studio
- Unit 6 Furnished Y/N: No
Location Details
- Area/Subdivision: Mammoth Lakes
- Subdivision: Mammoth Camp Tract II
- Region: MAMMOTH LAKES
- Directions: GPS
- Zoning: RMF-1
Property Details
- APN: 022-330-039-000
- Lot/Unit: 11
- Vacant Y/N: No
- Property Condition: Remodel
- New Construction Y/N: No
- Age: 59
- Terms: Cash,Conventional,Owner Carry
Property Features
- Appliances: Refrigerator,Gas Range/Oven,Microwave,Range Hood
- Exterior: Frame,Wood Siding
- Exterior Amenities: Dirt Driveway
- Interior Amenities: New Paint,Vinyl Floors,Carpet,Window Coverings,Ceiling Fans,Smoke Detector
- Roof: Metal
- Heating: Natural Gas,Electric,Wall Heater
- Cooling: None
- Gas: Natural Gas
- Garage Capacity: None
- Garage Type: None
- Fireplace: None
- Porch/Patio: Open Balcony,Covered Balcony
- Laundry: Other/See Remarks
- Sewer: Public Sewer
- Water Heater: Electric
- Water Supply: Public Water
- Windows: Double Pane,Single Pane
- Window Treatments: Blinds
- Landscaping: Trees
Miscellaneous
- List Type: Non-Residential, Residential Inc
- Commission %/$: 2.5%
- Monthly Income: 10148
- Net Annual Income: 71357
- Gross Annual Income: 121776
- Water Expenses: 4672
- Trash Expense: 4886
Courtesy of
- Agent: Douglas Kubiske
- Office: Heritage Real Estate Group
Disclaimer
Based on information from the Mammoth Lakes Board of REALTORS as of May 8, 2024. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.