Overview
A GEM at the base of Punchbowl. This 17 unit building is poised for income potential. 7 - 1 bedroom units, 10 - 2 bedroom units. 1 beds are 480 sq ft, 2 bedrooms are either 600 or 720 sq ft depending on stack. CMU construction, concrete walls between units, individual electric meters, assigned parking, resident manager on site, great ocean and city views, very well maintained. At the end of Alapai Street against the hills of Punchbowl provides privacy for the units and cool breezes. Laundry facilities onsite and a communal garden. Units have been upgraded as tenants moved out, all varies. Long time residents have lived in the building. First time changing hands in over 43 years. Please review financial listing packet for more information on rent roll, expenses, pro-forma, survey, floor plans etc. Amazing rental income opportunity with a solid building that has been well maintained.
Property Details
- Amenities
- Resident Manager
- Building Type
- Apartments
- Sold Date
- 10/31/2022
- Sold Price
- $5,000,000
- Construction Materials
- Concrete, Hollow Tile, Other
- Location
- Dead End
- Neighborhood
- Punchbowl Area
- Net Operating Income
- 57360.00
- Number Of Units Total
- 17
- Parking Features
- Assigned
- Parking Total
- 18
- Property Type
- Multi-Family
- Building SqFt
- 9,860
- Total SqFt
- 9,860
- Status
- Sold
- Stories
- 3
- Total Actual Rent
- $11,030
- Total Annual Operating Expenses
- $78,000
- Total Income
- $135,360
- View
- City, Coastline, Ocean
- Year Built
- 1971
Additional Property Info
- Active Continue To Show Date
- 07/29/2022
- Disclosures
- Property Disclosure Stmt
- Days on Market
- 10
- Flood Zone
- Zone X
- Laundry Facilities
- Coin, Dryer, Washer
- Property Condition
- Above Average, Average
- Roof
- Other
- Tax Amount
- $763
- Tax Assessed Value
- $2,615,000
- Tax Assessed Value Improvements
- $857,500
- Tax Assessed Value Land
- $1,757,500
- Topography
- Level
- Utilities
- Cable, Internet, Overhead Electricity, Public Water, Water
- Zoning
- 12 - A-2 Medium Density Apartme
Courtesy of Melvin Leon Guerrero, Compass.
Based on information from the Multiple Listing Service of HiCentral MLS, Ltd. Information is deemed reliable but not guaranteed. Copyright 2024 by HiCentral MLS, Ltd.
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