340-352 S Blackstone Street, Tulare, CA 93274
- $3,750,000
- 28
- BD
- 15
- BA
- 17,780
- SqFt
- List Price
- $3,750,000
- Days on Market
- 1
- Status
- ACTIVE
- MLS#
- 244113
- Bedrooms
- 28
- Bathrooms
- 15
- Living Area
- 17,780
- Lot Size (Acres)
- 1.8
- Year Built
- 1961
Property Description
25 unit apartment complex close to schools, shopping and public transportation. Rents have room for increases and property has undergone renovations in 2024 with previous owner (over $450K in upgrades). New flooring, granite countertops in kitchen/bathroom suites, new dual-paned windows, repainted inside and outside, new electric sub-panels and security systems ahve been installed. On-site laundry can bring in additional revenue (not included in pro-forma). There is a large yard area that is currently used as a shared open space for tenants that can be utilized for construction of 12-14 new units (buyer to verify with City of Tulare). Eight units are upstairs inmain building and remaining units downstairs or in single level buildings. One building is a duplex that contains a 3/1 unit with indoor laundry hook-up and 2 car garage (possibly for in-site manager at reduced rent). With a proposed CAP of 6.35, this gives a nice return and still has upside potential with a few additional cosmetic improvements. Perfect investment for mid-sized investors and for 1031 exchanges. full 25 unit list available, please contact listing agent for remaining units.
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Additional Information
- Area
- Tulare SE
- Acres
- 1.80
- Garage Spaces
- 2
- Heating
- Wall Furnace
- Cooling
- Ceiling Fan(s), Gas, Separate Meters, Wall/Window Unit(s)
- Utilities
- Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Satellite TV, Water Connected, Sewer Connected
- Water
- Public
- Sewer
- Public Sewer
Mortgage Calculator
Listing courtesy of Listing Agent: Randy E Tellalian (rtell@hotmail.com) from Listing Office: Randy Tellalian, Broker.