Lompoc, CA 93436,337 North K St
Lompoc, CA 93436,337 North K St
Lompoc, CA 93436,337 North K St
13
$995,000
$995,000
Est.Price: ?

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2,496 SqFt

337 North K St Lompoc, CA 93436

Est. payment /mo
SOLD DATE : 07/12/2024

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Key Details

Sold Price $995,000

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Sold

Purchase Type For Sale

Square Footage 2,496 sqft

Price per Sqft $398

Subdivision South East Lmpc(52)

MLS Listing ID PT24087831

Sold Date 07/12/24

HOA Y/N No

Year Built 1960

Lot Size 6,969 Sqft

Property Description

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.

Location

State CA

County Santa Barbara

Area Lomp - Lompoc

Rooms

Ensuite Laundry Common Area

Interior

Laundry Location Common Area

Cooling Wall/Window Unit(s)

Fireplace No

Laundry Common Area

Exterior

Pool None

Community Features Sidewalks

View Y/N No

View None

Roof Type Shingle

Private Pool No

Building

Lot Description Front Yard, Lawn, Landscaped, Yard

Story 1

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 091021023

Acceptable Financing Cash, Cash to New Loan, Conventional

Listing Terms Cash, Cash to New Loan, Conventional

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Varinder Kumar • Coldwell Banker West

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Nicole Parent

Broker Associate | License ID: 01827226

+1(559) 930-7171

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