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337 North K StreetLompoc, CA 93436Price: $995,000

  • Price: $995,000
  • Est. Mortgage of $/month
  • 42 Days on Market
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Federal 30-year interest rate: 6.99% last updated on Jun 6, 2024
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
  • $995,000List Price
  • 0.16Acreage
Discover a remarkable investment opportunity with this fully remodeled 4-unit multifamily property located in the heart of Lompoc, CA. Live in one unit while the others generate income! Investment Highlights: Extensively renovated with modern finishes, including new kitchens, bathrooms, bedrooms, as well as new exterior and interior paint. Efficient unit layout with appealing floor plans and great floor-to-ceiling height. Includes 3 new dryers and 2 washers, enhancing tenant convenience. Tenants are responsible for electricity, gas, sewer, and trash expenses, minimizing operating costs for the owner. This property presents an attractive 6.6% CAP rate with a pro forma CAP rate of 8%, showcasing its potential for significant income growth. Square Footage: 2,496 Lot Size: 6,970 SF Unit Composition: 3 units with 2 beds & 1 bath each (672 SF each) and 1 unit with 1 bed & 1 bath (480 SF) Current Rental Income: $7,950/month Future Rental Income (Post June 1, 2024): $8,521/month Parking: 4 spaces Year Built: 1960, Renovated in 2023 Location Benefits: Situated in Lompoc, CA, a city known for its thriving economy and significant growth. Close to notable economic drivers such as the Trident Missile Program and Vandenberg Space Force Base. Supported by economic development initiatives and the Lompoc Valley Chamber of Commerce, aiming to attract businesses and create job opportunities. This property is a perfect match for investors seeking to capitalize on Lompoc's growing market while enjoying the benefits of a fully remodeled, turnkey investment. With its strategic location, modern amenities, and strong income potential, this multifamily opportunity is poised to be a valuable addition to any investment portfolio.
Listed by Varinder Kumar of Coldwell Banker West

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Based on information submitted to CRMLS as of June 12, 2024 10:52 PM EDT . All data is deemed reliable but is not guaranteed accurate by the MLS. All information should be independently reviewed and verified for accuracy. IDX information is provided exclusively for consumers’ personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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Property Details

Property Details of 337 North K Street

Property Details

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