Lompoc, CA 93436 337 North K St
$995,000
8 more
Presented By: Varinder Kumar with Coldwell Banker West;
Home Details
Listing provided by Varinder Kumar please reach out directly for any questions or interest at 562.418.0998.
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.
Presented By: Varinder Kumar with Coldwell Banker West;
Interior Features for 337 North K St
Other Interior Features
Air Conditioning Y/NYes
Basement (Y/N)No
Common WallsItem2CommonWalls
Electric On Property Y/NNo
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesCommonArea
Total Stories1
Other Rooms
Entry Level1
General for 337 North K St
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Carport Y/NNo
CityLompoc
Community FeaturesSidewalks
CoolingWallWindowUnits
CountySanta Barbara
Days on Market8
DirectionsFrom West Laurel Ave, go left to E Laurel Ave, turn left to N K St.
Entry Location1
Garage Spaces0.0
Garage Y/NNo
Gross Income95400.0
HOA / Comm AssnNo
Home Warranty Y/NNo
Insurance Expense2100.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
Listing TermsCash, CashtoNewLoan, Conventional
Lot Size Square Feet6970.0
MLS AreaLOMP - Lompoc
MobileHomeRemainsYNNo
Net Operating Income65884.0
New ConstructionNo
Operating Expense0.0
Pool FeaturesNone
Private PoolNo
Property Attached Y/NYes
Property Sub Type AdditionalQuadruplex
Property SubTypeQuadruplex
Property TypeResidentialIncome
Rent Control Y/NYes
RoofShingle
Senior Community Y/NNo
SewerPublicSewer
Spa FeaturesNone
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Street NameNorth K St
Subdivision NameSouth East Lmpc(52)
Tenant PaysAllUtilities
Total Units4
Trash Expense0.0
ViewNone
View Y/NNo
Water Sewer Expense2400.0
Waterfront Y/NNo
Year Built1960
Year Built SourcePublicRecords
Exterior for 337 North K St
Building Area Total2496.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesFrontYard, Lawn, Landscaped, Yard
Lot Size Acres0.16
Lot Size Area6970.0
Lot Size SourcePublicRecords
Lot Size UnitsSquareFeet
Number of Buildings1
Number of Separate Electric Meters4
Number of Separate Gas Meters4
Number of Separate Water Meters5
Open Parking Y/NNo
SpaNo
Total Parking0.0
Water SourcePublic
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480