FOR SALE

[Pages:11]FOR SALE

3848 SORANNO AVE $375,000.00 3836 SORANNO AVE $375,000.00

BAKERSFIELD CA 93309

Being Sold Together or Separately. 2 Separate APN# (2) FOUR PLEXES

EACH UNIT HAS 2 BEDROOMS 1 BATH 813 SF. WITH 1 CAR GARAGE. UP-STAIRS UNIT HAS COVERED PATIO. All units have Force Heat & Air.

Building Size: Lot Size: Year Built: Price Per Door:

3,258 sf. 6,534 sf. 1970 $93,750.00

SKY VIEW OF THE RENTAL INCOME PROPERTIES

3848 Soranno Ave, 93309 APN# 440-171-08

4 Units ? 2 Bed 1 Bath

3836 Soranno Ave, 93309 APN# 440-171-09

4 Units ? 2 Bed 1 Bath

Advanced Realty Management Inc. Is please to have been selected to list For Sale these (2) four Plexes. This area is going through a revitalization period. Now is the time to buy. Add these units to your portfolio.

HIGHLITES

8 LARGE UNITS IN DESIREABLE AREA QUALITY CONSTRUCTION BUILT 1970 VERY LOW VACANCY WITH RENTAL UPSIDE LAUNDRY ROOM FOR EXTRA INCOME 1 CAR GARAGES FOR EACH UNIT CLOSE TO SHOPPING & RESTAURANTS EASY ACCESS TO FWY 99 GATED COMPLEX

BAKERSFIELD MAP

This is based on one 4-plex. Double these if you bought both 4-plexes PRICING DETAILS

Summary

Price

$375,000

Down Payment

$75,000

20%

Number of Units

4

Price Per Unit

$93,750

Price Per SqFt

$184.91

Gross SqFt

2,028

Lot Size

0.15 Acres

Approx. Year Built

1970

Returns

CAP Rate GRM Cash-on-Cash Debt Coverage Ratio

Current

6.12% 10.70 4.82%

1.19

Year 1

7.61% 9.19

12.27% 1.48

Operating Data

Income Gross Scheduled Rent

Less: Vacancy/Deductions

3.0%

Total Effective Rental Income

Other Income Effective Gross Income

Less: Expenses

35.4%

Net Operating Income

Cash Flow

Debt Service

Net Cash Flow After Debt Service 4.82%

Principal Reduction

Total Return

10.72%

Current $35,040

$1,051 3.0% $33,989

$1,500 $35,489 $12,546 30.5% $22,943

$22,943

$19,326 $3,617 12.27% $4,426 $8,043 18.48%

Year 1 $40,800

$1,224 $39,576

$1,500 $41,076 $12,546 $28,530

$28,530

$19,326 $9,204 $4,653

$13,857

ANNUAL EXPENSES

Expenses Real Estate Taxes Insurance Utilities - Electric Utilities - Water Repairs & Maintenance Landscaping Pest Control BKFLD-GARBAGE - SEWERKCSWMP LAND Total Expenses Expenses/Unit Expenses/SF

Current $4,425 $1,075

$300 $1,500 $2,000 $1,200

$320

$1,726

$12,546 $3,137 $6.19

Year 1 $4,425 $1,075

$300 $1,500 $2,000 $1,200

$320

$1,726

$12,546 $3,137 $6.19

RENT ROLL

Display Rent as:

Monthly

Rents to Show: Current and Potential

As of January, 2019

Current Current Potential Potential

Unit A B C D

Total

Unit Type

2 Bedrooms/ 1 Bathroom 2 Bedrooms/ 1 Bathroom 2 Bedrooms/ 1 Bathroom 2 Bedrooms/ 1 Bathroom

Square Feet 813 813 813 813

Square Feet: 2,028

Rent / Rent / SF/ Month Month

$730 $730 $730 $730

$0.90 $0.90 $0.90 $0.90

Rent / Month

Rent/ SF/ Month

$850 $850 $850 $850

$1.05 $1.05 $1.05 $1.05

$2,920

$1.44

$3,400

$1.68

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