Listed by RE/MAX 360 Real Estate
$1,250,000
NATOMA PARK
Details
APN 01-41-15-026-0611
Property Type Multifamily
Sub Type Apartment Building, Duplex/Triplex/Quadruplex
Square Footage 2,183
Net Rentable (SqFt) 1,581
Units 2
Cap Rate 4.56%
NOI $57,000
Occupancy 100%
Tenancy Multi
Lease Type Gross
Lease Term 1.3
Lease Expiration 09/01/2024
Price per SqFt $573
Class B
Year Built 1937
Year Renovated 2010
Buildings 1
Lot Size (SqFt) 5,200
Zoning 4600
Parking Spaces 2 spaces
Parking Per SqFt 0.92
Investment Type Redevelopment
Tenant Credit No Credit Rating
Lease Commencement 06/01/2023
Occupancy Date 09/01/2023
Ownership fee simple
Sale Condition For sale by owner
Underline Twin Home Approved to Build - Covered land Play. Seller Financing. Redevelopment along The
Marketing description
Prime redevelopment opportunity located along The Underline. The property consists of an existing income-producing single-family residence currently generating approximately $5,400 per month. The site is approved for redevelopment into two three-story townhomes, offering the potential for a luxury residential project in a highly desirable, transit-oriented location. The property is situated on a 5,200 SF lot and currently features an approximately 2,100 SF single-family home within the Natoma Park subdivision. The site benefits from favorable T5-R zoning, allowing up to 65 units per acre by right, and is located within a Transit-Oriented Development (TOD) boundary, which may allow for increased density and development intensity, subject to municipal approvals. This offering presents a covered land play with existing income while pursuing future redevelopment potential.
Investment highlights
Investment Highlights
FULLY APPROVED SITE
Seller Financing Available
Covered land play
Current GI $64,800.00
“Seller to pay buyers rep commission”
Plans for (2) twin homes.
(2) 4 bed, 3.5 bth double garage
Underline Phase 2
Natoma subdivision
Listing Contacts
Listed by RE/MAX 360 Real Estate
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$57,000.00
$4,750.00/mo
Valuation Metrics
0
DSCR
4.56%
Cap Rate
4.56%
ROI
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