$3,290,000
$3,569,000
7.8%For more information regarding the value of a property, please contact us for a free consultation.
2.4 Acres Lot
SOLD DATE : 04/04/2021
Key Details
Sold Price $3,290,000
Property Type Multi-Family
Sub Type 5 or More Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 20073735
Sold Date 04/04/21
HOA Y/N No
Originating Board MLS Metrolist
Year Built 1959
Lot Size 2.400 Acres
Acres 2.4
Property Description
Franklin Way Single-Family Residences consists of a total of 22 homes comprised of Thirteen (13), 3 Bedroom / 1 Bath homes approximately 936 SF each plus Nine (9), 2 Bedroom / 1 Bath homes approximately 727 SF each for total building size of 18,504 SF .Built in 1961 the homes are situated side-by-side on two parcels and are fully leased to tenants with guaranteed income from Section 8, SSI, and Pensions or employed in the 'essential' category.Each home has their own individual front and backyard, drive-way carport, and washer/dryer hook-ups.The value-add is in that the majority of the tenants have not received a rental increase in over 12 months of which many are well below market rent based on newest leases.There's also potential upside in rebuilding or expanding on two lots where two units burned down (2016) or utilizing them as picnic/play areas for the tenants.The homes command high market rent since tenants prefer to live in single-story housing versus stacked apartments.
Location
State CA
County Yolo
Area 10691
Direction From Harbor Blvd. make a left on Shaw, Right on Glide Ave., Right on Franklin Way. Properties include both sides of street except for corner home.
Interior
Heating Wall Furnace
Cooling Ceiling Fan(s), Window Unit(s)
Flooring Carpet, Laminate, Wood, Linoleum/Vinyl
Appliance Gas Water Heater, Other
Exterior
Garage Carport, 1+ Space Per Unit
Amenities Available Laundry Hook-Up in Units, Patios/Balcony, Public Trans Nearby, Yard Space
Roof Type Composition
Building
Story 1
Sewer Public Sewer
Schools
Elementary Schools River Delta Unified
Middle Schools River Delta Unified
High Schools River Delta Unified
School District Yolo
Others
Senior Community No
Tax ID 008-421-013-000
Special Listing Condition None
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Bought with PCG Commercial, Inc
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