Description

Unique offering of a 14 unit turn key asset with long-term tenants and a current cap rate of 7.25%! No deferred maintenance! (80%) of tenants pay by direct deposit and balance of tenants pay via dropbox in laundry room. Balance of rents are picked up when emptying building owned Speed Queen washers & Dryers. *($293,160 income with a 7.25% cap rate on a no deferred maintenance 14 Plex)* and, within the last 4 to 6 years:



*** building re-piped in PEX including new Moen fixtures, new tubs, new showers, toilets, water heater, circulating pump, shut offs, and hose bibs.

*** PELLA dual glazed windows installed throughout

*** exterior entry doors and weatherstripping, jambs and hardware

*** raised panel interior doors with new farm style casing, baseboards casings and trim

*** new closet, interiors, high low shelving, and mirror doors

*** retractable, and openable window blinds

*** solid wood kitchen cabinets with full extension drawer glides/pantries/remodel

*** over the range microwave, dishwashers, gas oven/cooktop new installation

*** all deck areas continuously maintained, and recently re-coated

*** electrical panels upgraded, child proof Decora plugs, new GFI‘s, new smoke detectors, CO2 protectors with installation of LED lighting

*** outside lighting, including new sconces, new parking lot, lighting, and LED lighting on light sensor

*** all roof area, continuously maintained and recently recoated in an Elastimeric product

*** painting of exterior building, handrails, and wrought fencing/gates

*** parking area recently slurry coated, and re-striped. Required handicap parking in place.

*** avocado, and citrus trees are available for tenants enjoyment

The lot that this 14 Plex is on is 10,454 ft.² with a 6424 square-foot dwelling built in 1981. Also available is adjacent 11,326 ft.² lot, MLS OC26103800 with an 8 x 16 storage container on site. Combined these lots total 1/2 acre and per Edgar, at the Jurupa Valley building department, these lots combined could allow for eight additional dwelling units, (8-ADU’s). Do your own due diligence on how to develop this property further.