This is a well-maintained 10-unit apartment building located in the heart of the desirable City of Solvang. All the units are 1 bed and 1 bath with separate electric and gas meters, and the residents enjoy a private laundry room and off-street parking in the rear of the building. Upgrades… Read More within the last 5 years include laminate flooring in many of the units, new water heater, new dual pane windows and a complete replacement of the asphalt driveway and parking lot. The units are close to all that downtown Solvang has to offer, including restaurants, galleries, shops, and more. With over 40 percent upside in rents, this property offers the prudent investor lots of upside opportunity. Read Less
Listing Snapshot
Days Online
82
Last Updated
Property Type
Apartment
Lot Size
0.2 Acres
Year Built
1971
MLS Number
PI25075919
30 Days Snapshot Of 93463
$5.18M
+49%
(avg) sold price
1
0%
home sold
39
-37%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1971, Building area total: 4,500, 1 building, Architectural style: , Attached, Common walls: TwoCommonWallsOrMore
Community
Sidewalks, Park
Cooling
None
Expenses
Operating expense: $73,620
Fireplaces
None
Floors
Carpet, Laminate
Heating
WallFurnace
Income
Gross income: $217,200, Net operating income: $137,064
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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