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1001 1021 E Cypress AvenueLompoc, CA 93436Price: $10,445,000

  • Price: $10,445,000
  • Est. Mortgage of $/month
  • 59 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.
  • $10,445,000List Price
  • 1.9Acreage
Unique opportunity to acquire 60 units in two contiguous multifamily properties located at 1001 E Cypress Avenue (“Bahia La Paz”) and 1021 E Cypress Avenue (“Kimi East”) situated on the Central Coast in the City of Lompoc. Both buildings are garden-style courtyard communities that provide an excellent unit mix of 40 x 2BD/1BA units and 20 x 1BD/1BA units, excellent onsite parking, onsite laundry facilities, functional unit layouts, and an ideal location in the Lompoc Valley. Bahia La Paz is 24-unit Mission-style, red tiled roof building constructed in 1984 consisting of sixteen 2BD/1BA townhome units (with fireplaces) and 8 X 1BD/1BA flats. Tenants enjoy either private patios or balconies, a common courtyard with two community BBQs, an onsite laundry facility, and on-site parking consisting of 26 carport spaces and 17 uncovered spaces. All tenants are on a month-to-month lease with current rents that are approximately 25% below market. Kimi East Apartments is a 36-unit Mid-Century building constructed in 1963 and comprised of 24 X 2BD/1BA units and 12 X 1BD/1BA (all flat units). Tenants enjoy a common courtyard with three community BBQs, two on-site laundry rooms and 36 carport spaces with tenant storage closets. All tenants are on a month-to-month lease with current rents that are approximately 35% below market. Ownership has recently replaced all railings at the property to meet today’s code.
Listed by Christos Celmayster of Hayes Commercial Group,Inc. (christos@hayescommercial.com)

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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 1001 1021 E Cypress Avenue

Property Details

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