Investment opportunity featuring **two duplex buildings (4 units total)** situated on a large 1/3-acre lot adjacent to Ellis Lake with direct access from the property. Each unit offers a spacious 2-bedroom, 1-bath floor plan with in-unit washer and dryer. The oversized lot offers future development potential, with room that may accommodate additional units, such as an ADU or duplex ADU, subject to buyer verification of zoning, approvals, and development standards. New roofs have just been completed, providing added value and reducing near-term capital expenses. Current gross annual rents are **$67,200** ($1,400 per unit), producing an approximate 6.4% cap rate based on current operating history. Additional upside may exist through implementation of a RUBS (Ratio Utility Billing System) program, allowing a future owner to recover a portion of utility expenses, subject to buyer verification. Photos were taken prior to the current tenants moving in. Shown by appointment only. Please do not disturb tenants.
22 days
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463
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Zillow last checked:
Listing updated:
Listed by:
Blake HammondDRE #02111011916-625-6118,
Better Homes and Gardens RE
Source: MetroList Services of CA,MLS#: 226095489Originating MLS: MetroList Services, Inc.
Facts & features
Interior
Bedrooms & bathrooms
Bedrooms: 8
Bathrooms: 4
Full bathrooms: 4
Heating
Central, See Remarks
Cooling
Central Air, See Remarks
Appliances
Included: See Remarks
Laundry: In Unit, Washer/Dryer Hookups
Features
Flooring: Carpet, Tile, Vinyl, Wood, Varies, See Remarks
Has fireplace: No
Interior area
Total structure area: 0
Total interior livable area: 3,664 sqft
Property
Parking
Parking features: See Remarks
Features
Waterfront features: Pond
Lot
Size: 0.3 Acres
Features: Landscape Back, Landscape Front
Details
Zoning: R-4
Special conditions: Standard
Construction
Type & style
Home type: MultiFamily
Property subtype: Quadruplex
Materials
See Remarks
Foundation: See Remarks
Roof: Flat
Condition
Year built: 1941
Utilities & green energy
Sewer: Public Sewer
Water: Public
Utilities for property: Cable Available, City, Electric