Multi-Family•Low-Rise/Garden•For Sale

100 Occupied 3 Unit Apartment Buildings

917 N Lynora St, Tulare, California 93274

Sale Price $397,500
Sale Type Investment
Zoning RM3
Bldg Type Multi-Tenant
Status Existing
Year Built 2004
Stories 1
Cap Rate 4.61%
Vacancy 100%
Gross Bldg 3,650 SqFt
RBA 4,140 SqFt
Land Area .27 Acres
Avail Parking 4/1000SqFt
Project Size 3
Net Op Inc $18,308.55
Market VIsalia-Tulare
Sub-Market Central Tulare
100% occupied 3 Unit Triplex Multi-Family Apartment housing on ±0.274 Acres of land. Property consists of Two Buildings with 1 story units that is a total of ±3,650 SF. Property has (2) identical 2 bedroom 2 bathroom units that are approximately 1,050-square feet each with a 2 car garage. Property also has a Freestanding unit that is 2 bedroom 2 bathroom unit that is approximately 1,550-square feet with a 2 car garage. Each unit is separately metered for gas and electricity and has interior laundry. Tenants pay their own utility & hot water, separate gas & electric meter. The apartments are located in a very strong rental market. The immediate neighborhood is quiet and primarily single family residential. There is the Elementary, Middle School and High School within a few miles of the property. The units are spacious, there is lighted secured parking and exterior lighting throughout the community. The property is within a few miles from convenient shopping and many national tenants like McDonald's, Denny's, Popeyes Louisiana Kitchen, Starbucks, IHOP, Panda Express, Taco Bell, Walgreens, Home Depot, Farmer Boys, Plaza Del Lago, Foods Co, Lowes Home Improvement, Tulare Outlets, Nike Factory Store, Walmart and many more! Located on North Lynora Street and E Thompson Ave, 1.6 miles from the HWY 99 and 1.1 miles from the Tulare Outlets. The property is within a mile from convenient shopping and many national tenants like McDonalds, Dennys, Popeyes Lousiana Kitchen, Starbucks, IHOP, Panda Express, Taco Bell, Walgreens, Home Depot, Farmer Boys, Plaza Del Lago, Foods Co, Lowes Home Improvement, Tulare Outlets, Nike Factory Store, Walmart and many more!
  • 8.91% Cash on Cash with 25% Down!
  • 100% Occupied | Newer 2004 Construction
  • Value Add Upscale 3 Units @ Below Market Rents
  • (2) Freestanding Buildings | Private Garages | Tile Roofs
  • All Units Are 2 Bedroom/ 2 Bath Units
  • One Freestanding Unit- One 2 Unit Building
  • Private 2 Car Garages
  • In Unit Laundry | Quality Unit Condition
  • Additional Side Parking and Plenty of Street Parking
  • Easy Access On and Off Highway 99
  • Long Term Tenants Secured on Leases
  • Great Income History - Proven Track Record
  • Free and Clear of Debt for New Low Financing
1/16/2020 8:31:26 PM 2/26/2020 3:12:52 AM
Jared Ennis
Senior Commercial Associate
KW Commercial | Central California
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