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98800 Surfside Ave 4 Unit Apartment Building $660,000 ($165,000/Unit) 6.96% Cap Rate Mecca, CA 92254
INVESTMENT HIGHLIGHTS
- Mountain View
- New Elementary School Under Construction
- Sold with an additional, buildable lot
- Lower Cost of Living
- Shopping close
EXECUTIVE SUMMARY
2 APN's are associated with this fourplex in Mecca (721-271-025 and 721-271-026) offers 12 bedrooms, 4 bathrooms, and is fully fenced with a driveway for easy access. Perfect for multi-family living or rental income.
Key Features:
12 Bedrooms & 4 Bathrooms
Fully Fenced for added privacy and security
Driveway Access for convenience
Prime Location in Mecca, close to amenities
A great investment for those looking to generate rental income.
Key Features:
12 Bedrooms & 4 Bathrooms
Fully Fenced for added privacy and security
Driveway Access for convenience
Prime Location in Mecca, close to amenities
A great investment for those looking to generate rental income.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$78,090
|
$14.46
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$78,090
|
$14.46
|
| Taxes |
$9,513
|
$1.76
|
| Operating Expenses |
$23,757
|
$4.40
|
| Total Expenses |
$33,270
|
$6.16
|
| Net Operating Income |
$44,820
|
$8.30
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $78,090 |
| Annual Per SF | $14.46 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $78,090 |
| Annual Per SF | $14.46 |
| Taxes | |
|---|---|
| Annual | $9,513 |
| Annual Per SF | $1.76 |
| Operating Expenses | |
|---|---|
| Annual | $23,757 |
| Annual Per SF | $4.40 |
| Total Expenses | |
|---|---|
| Annual | $33,270 |
| Annual Per SF | $6.16 |
| Net Operating Income | |
|---|---|
| Annual | $44,820 |
| Annual Per SF | $8.30 |
PROPERTY FACTS
| Price | $660,000 | Building Class | C |
| Price Per Unit | $165,000 | Lot Size | 0.19 AC |
| Sale Type | Investment | Building Size | 5,400 SF |
| Cap Rate | 6.96% | Average Occupancy | 100% |
| Gross Rent Multiplier | 8.03 | No. Stories | 2 |
| No. Units | 4 | Year Built/Renovated | 2010/2019 |
| Property Type | Multifamily | Parking Ratio | 1.48/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | Zoning | R-3 - One-family dwellings developed as restricted single-family residential subdivisions. See attached zoning ordinance. |
| Price | $660,000 |
| Price Per Unit | $165,000 |
| Sale Type | Investment |
| Cap Rate | 6.96% |
| Gross Rent Multiplier | 8.03 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 5,400 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 2010/2019 |
| Parking Ratio | 1.48/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R-3 - One-family dwellings developed as restricted single-family residential subdivisions. See attached zoning ordinance. |
AMENITIES
UNIT AMENITIES
- Balcony
- Ceiling Fans
- Double Pane Windows
SITE AMENITIES
- Fenced Lot
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+1 | 4 | $1,700 | - |
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PROPERTY TAXES
| Parcel Number | 721-271-026 | Total Assessment | $30,300 (2023) |
| Land Assessment | $30,300 (2023) | Annual Taxes | $9,513 ($1.76/SF) |
| Improvements Assessment | $0 (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
721-271-026
Land Assessment
$30,300 (2023)
Improvements Assessment
$0 (2023)
Total Assessment
$30,300 (2023)
Annual Taxes
$9,513 ($1.76/SF)
Tax Year
2024
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98800 Surfside Ave
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