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470 W OLIVE AVE El Centro, CA 92243
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Key Details
Sold Price $600,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 250038191SD
Property Sub-Type Mixed Use
Property Description
FANTASTIC INVESTMENT OPPORTUNITY IN EL CENTRO! THIS WEL MAINTAINED PROPERTY FEATURES FIVE STANDALONE COTTAGES, EACH CONSISTING OF 2-BEDROOMS AND 1-BATHROOM. ALL UNITS HAVE BEEN RECENTLY REMODELED AND INCLUDE MODERN UPGRADES SUCH AS VINYL FLOORING, DUAL PANE WINDOWS, AND NEWER MINI SPLIT SYSTEMS FOR EFFICIENT TEMPERATURE CONTROL. THIS COMPLEX IS CURRENTLY PRODUCING AN IMPRESSIVE 11%+ GROSS CAP RATE WITH ADDITIONAL UPSIDE POTENTIAL, MAKING IT AN EXCELLENT OPTION FOR BOTH 1031 EXCHANGES AND LONG TERM INVESTORS SEEKING STRONG RETURNS. THERE IS ROOM TO ADD A POSSIBLE SIXTH UNIT OR CREATE A COMMUNITY SPACE. THE PROPERTY IS IDEALLY LOCATED WITH EASY FREEWAY ACCESS, AMPLE STREET PARKING, OFFERING CONVENIENCE FOR TENANTS AND VISITORS ALIKE. THIS IS A TURNKEY, INCOME-PRODUCING ASSET IN A GROWING MARKET—A RARE CHANCE TO ACQUIRE A SOLID INVESTMENT WITH IMMEDIATE CASH FLOW.
Location
State CA
County Imperial
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Exterior
Roof Type Composition
Others
Acceptable Financing Cash, VA Loan
Listing Terms Cash, VA Loan
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