233 North N Street. Lompoc, CA 6-Units For Sale $1,025,000 PRESENTED BY BEACHSIDE PARTNERS

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PRESENTED BY BEACHSIDE PARTNERS

233 North N Street

Lompoc, CA

6-Units For Sale

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B U Y E R T O V E R I F Y A L L D A T A

233

NORTH N STREET

Beachside Partners proudly presents the opportunity to add six well maintained

units to your rental portfolio. The property is situated on a quiet street that is a mix

of multi-family buildings and single family homes. The building is just blocks from

Cabrillo Highway where you will find plenty of shopping and dining. Less than 5

minutes to Walmart, Albertsons, Marshalls, and The Home Depot.

Each unit is 840 SF and consists of 2 bedrooms and 1 bathroom. Individual

electric and gas meters for each unit. Laundry room on site. Uncovered parking

for each unit. 6% cap rate on market rents. Extremely low turnover and stable

rental income from great tenants. While you can leave as is and continue to collect

$$$, there is tons of potential to add value to the property through some simple

cosmetic rehab.

PR OPER T Y FAC TS

Address:

233 North N Street, Lompoc, CA 93117

Asking Price:

$1,025,000

Price Per Unit

$170,833

Unit Mix:

6 (2bed/1bath)

APN:

091051003

Site Area + Rentable SF

Lot 4,791 SF (0.11 Acres)

Cap Rate:

3.77%

Market Cap Rate:

6.01%

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3

201

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#

Unit Mix

Current

Market

1

2 Bedroom / 1 Bath

$950

$1,300

2

2 Bedroom / 1 Bath

$950

$1,300

3

2 Bedroom / 1 Bath

$930

$1,300

4

2 Bedroom / 1 Bath

$950

$1,300

5

2 Bedroom / 1 Bath

$1,000

$1,300

6

2 Bedroom / 1 Bath

$925

$1,300

Total

$5,705

$7,800

JUNE RENT ROLL

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INTERIOR

Tile Floors

Wall Heaters

Vaulted Ceilings

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LOMPOC

Lompoc CA is nestled

in the hills of California’s

Central Coast. Conveniently

situated an hour north

of Santa Barbara and 30

minutes west of Solvang

along the scenic Highway 1,

Lompoc offers something for

everyone. From Wine Tasting

(Lompoc has over over 30+

Wine Tasting Rooms) to Sky

Diving, whether you want to

relax or adventure, Lompoc

has something for everyone.

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EXTERIOR

Front Patio

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*

6-Unit Apartment Building

Tax Liability (Tax Rate %) 36%

Depreciation (Building %) 60%

Net Operating Income

$38,592 $61,617

Information contained has been obtained from the owner of the property or from other sources deemed to be reliable. While we do not doubt its accuracy we do not guarantee it. Total Annual Expenses $28,687 42.6% $30,048 32.8%

Debt Coverage Ratio (Market) 1.84

0.0%

Principal Reduction (Year 1) $11,603 Special Tax Assessments $98 0.1% $98 0.1% Debt Coverage Ratio (Actual) 1.15

Reserves $250/Unit

0.0%

Business License

0.0%

Term (5-Year Fixed Amort/30) 30 Pest Control $1,500 2.2% $1,500 1.6% Monthly Principal & Interest $2,796

Interest Rate 3.60% Legal & Accounting

0.0%

$615,000

0.0% 0.0% 1.3%

Down Payment 40% $410,000 Landscape

0.0% 0.0% Loan Amount $1,200 1.8% $1,200 Building Services $100/mo Est. 0.0%

Price $1,025,000 Onsite Management

$3,600 5.4% $3,600 3.9%

Acquisition Costs $0

Debt & Financing Summary

Offsite Management 5.0%n/a 0.0%

$600 Per unit

Repairs & Maintenance

$3,364 5.0% $4,725 5.2%

Total Overal Return (Proforma) $33,438 8.16%

$0 0.0%

Total Overal Return $18,702 4.56% $0 0.0% $0 0.0%

After Tax Cash Flow (Proforma) $21,835 5.33% $0 0.0%

After Tax Cash Flow $7,099 1.73% Utilities $4,280 6.4% $4,280 4.7%

Cash on Cash (Proforma) $28,064 6.84% Utilities

AVG 19/20

Cash on Cash $5,039 1.23% Insurance $2,755 4.1% $2,755 3.0% -% of EGI

Cap Rate 3.77%

Cap Rate (Proforma) 6.01% Property Taxes 1.1600% $11,890 17.7% $11,890

GRM (Proforma) 10.85

Expense Analysis

Current Rents % of EGI Market Rents

13.0% $67,279 $91,665 36.2%

GRM 14.78

$69,360 $94,500

Price / Unit $170,833 Vacancy (Less)

($2,081) ($2,835)

Price / Sq.Ft. $203 Effective Gross Income 3.0%

$925 $1,300 $1,300 6 2BD/1BA

Year Built

Laundry Monthly Income Other Income

Parking Alley

$75 $75

Financial Summary

Total Monthly Income $5,780 $7,875

Price $1,025,000 Annual Gross Income N/A (Sq.Ft.) 5,040 $950$930 $950$930 $1,300$1,300 $1,300$1,300 5 2BD/1BA APN 091-051-003 *Improvements $1,000 $1,000 $1,300 $1,300 $925 6

Property Information & Specifics

$950 $950 $950 $1,300 $1,300 Lot Size (Sq.Ft.) 7,405 $1,300 Number of Units

Investment Analysis

233 N N St, Lompoc, CA 93436

Total Total change $950 $1,300

Property Notes

Current Rents Current Rents Market Rent Market Rents %

Apartment has laundry on site.

June 2021 Rent Roll

# Units Unit Type

1 2BD/1BA 2 2BD/1BA 3 2BD/1BA 4 2BD/1BA

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Sale Comps

Property Address

Number of Units

Sold Price

Monthly Rent

GRM

Price Per

Unit

Unit Mix

Sold Date

221 N N St 12 $2,025,000 $14,244 11.8 $168,750 (12) 2BD/1BA 5/5/2021

700 N G St 5 $828,000 $6,100 11.31 $165,600

(1) 3BD/2BA (3) 2BD/1BA

(1) 3BD/1BA 09/13/2019

212 North O Street 8 $1,292,000 $9,700 11 $161,500 (8) 2BD/1BA 07/23/2020

526 N L Street 6 $875,000 $6,600 10.4 $145,833 (4) 3BD/2BA

(2)2/2 09/19/2019

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JOHN KOSKINEN

Cell 805.450.1999

Office 805.453.5097

John@BeachsidePartners.com

DRE 02036512

CONTACT LISTING TEAM TODAY

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