$1,650,000
$1,900,000
13.2%For more information regarding the value of a property, please contact us for a free consultation.
1.18 Acres Lot
SOLD DATE : 08/27/2021
Key Details
Sold Price $1,650,000
Property Type Multi-Family
Sub Type 5 or More Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 221071995
Sold Date 08/27/21
HOA Y/N No
Originating Board MLS Metrolist
Year Built 1941
Lot Size 1.180 Acres
Acres 1.18
Property Description
The Lindsay Inn Econo Apartments is a rare value-add and renovation ready opportunity at a reasonable price point that leaves upside for a new owner. The housing demand is extremely high due to the shortage of quality low-cost living. This property could potentially serve Section 8, Veterans, or the needs of other types of government subsidized housing programs which would create a guaranteed monthly income stream. The property is comprised of thirty-two (32) units of which sixteen (16) are econo lodging rooms with some featuring kitchenettes plus sixteen (16) apartment along with ample onsite parking. The ownership has replaced all of the roofs, demoed all of the interiors, 6 renovated units, installed dual pane windows in renovated units along with water heaters. In addition, each apartment unit has sub-panels making it possible to separately meter each unit as part of the renovation.
Location
State CA
County Tulare
Area Tulare County
Direction Head south on S Mirage and make a left onto the property. Located at the corner of S Mirage and W Lindmore St. (Route 224)
Interior
Heating Gas
Cooling Ceiling Fan(s), Wall Unit(s), Window Unit(s), MultiUnits
Flooring Laminate, Vinyl
Laundry Coin Operated
Exterior
Garage Carport, Street, Uncovered
Utilities Available Natural Gas Connected, City
Water Access Desc Public
Total Parking Spaces 32
Building
Lot Description Corner, Sidewalk
Story 1
Foundation Slab
Sewer Public Sewer
Water Public
Level or Stories One
Schools
Elementary Schools Other
Middle Schools Other
High Schools Other
School District Other
Others
Senior Community No
Tax ID 205-200-020-000
Special Listing Condition Offer As Is
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Bought with Non-MLS Office
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Realtors | Lic# 01985645