Listed by Castro Real Estate Services
$379,000
863 Hammond Manor Dr
Details
APN 165077
Property Type Multifamily
Sub Type Apartment Building
Square Footage 3,958
Units 4
Beds 8
Cap Rate 6.04%
NOI $22,904
Occupancy 75%
Tenancy Multi
Pro-Forma Cap Rate 7.66%
Pro-Forma NOI $29,028
Price per SqFt $97
Year Built 1983
Stories 2
Acreage 0.180
Zoning RD
Parking Spaces 8 spaces
Parking Per SqFt 2.02
Investment Type Value Add
Multifamily | 6.04% CAP | 4 Units
Marketing description
This meticulously maintained quadplex offers an investor a turnkey opportunity with consistent, proven cash flow. While Unit D is currently in lease-up, the asset historically maintains near-full occupancy.
Investment highlights
- Proven Performance: Long-term history of stable occupancy and reliable revenue.
- Value-Add Potential: Current rents sit below the market ceiling. Similar properties on the same street are currently achieving $1,050 per month, providing a clear path for the new owner to increase NOI through strategic renewals and market adjustments.
- Asset Quality: The building has been expertly managed, ensuring minimal deferred maintenance for the incoming purchaser.
Listing Contacts
Listed by Castro Real Estate Services
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$22,904.00
$1,908.67/mo
Valuation Metrics
0
DSCR
6.04%
Cap Rate
6.04%
ROI
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