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Map
$1,409,903*
●
Multifamily -
Off Market
169 Lupin Street
Mammoth Lakes, CA 93546
8 Beds
5 Baths
3315 Sqft
$1,085,000 - $1,325,000
Reference Base Price*
17.00%
Since Jul 1, 2021
National-US
Primary Model
About This Property
Highly sought after and well maintained Residential Income
Opportunity! Four units with 6 garages(1 garage for each unit
and 2 tandem garages currently rented separately). Three 2
Bed/1 Bath units, One 2 Bed/2 Bath unit. Each unit has its own
private laundry, woodstove and forced air heating. Exterior
was painted in the summer of 2020, new metal roof installed 2018
and all tenants have paid rents in full, even during Covid 19. The
owners of this fourplex have maintained this property to a strict
maintenance schedule with $69,187 in capital improvements the past
3 years alone; includes replacement of the roof, new appliances,
new woodstoves, exterior painting, replacement of stairs, and much
more. The great condition of this property is what separates
it from most other income properties in Mammoth Lakes. Rents
have been kept below market during Covid-19 in an effort to ensure
timely rent payments; all tenants have stayed current during the
pandemic. Market rents are higher than actual rents and can
be increase as each short term lease expires. Rents are renewable
under State AB-1482 can meet current market rents within 2 years.
(assumes 5% increases under the law with only a 1% CPI increase).
In addition to this subject property being offered for sale,
the owner also has 168 Mono Street (nearly identical project) being
sold for the same price. 168 Mono is contiguous to 169 Lupin
Street and would be a great opportunity to take advantage of
economies of scale. The owner is also selling 363 Manzanita
(5 units). Owner prefers to sell all three properties to one buyer,
but negotiable. Net income provided herein reflects current
taxes and doesn't incorporate Capital Improvements over the past 3
years. Actual Expenses in 2020 were $30,451. Gross Annual
Market Rents are estimated to be $93,600. Call for detailed
Offering Package.
The manager has listed the unit size as 3315 square feet.
The manager has listed the unit size as 3315 square feet.
Unit Size
3,315Ft²
Days on Market
-
Land Size
-
Price per sqft
$364
Property Type
Multifamily
Property Taxes
-
HOA Dues
-
Year Built
1990
Price History
Date / Event | Date | Event | Price |
---|---|---|---|
Jul 30, 2021 | Sold to Bertha Noriega, Salvador C ... | $1,085,000 | |
Sold to Bertha Noriega, Salvador C ... | |||
Jun 25, 2021 | No longer available | - | |
No longer available | |||
Apr 15, 2021 | Price Increased |
$1,205,000
↑ $100K
(9.1%)
|
|
Price Increased | |||
Apr 9, 2021 | Price Decreased |
$1,105,000
↓ $200K
(15.3%)
|
|
Price Decreased | |||
Mar 16, 2021 | Listed | $1,305,000 | |
Listed |
Property Highlights
Fireplace
Garage
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
Condo
2
Beds
2
Baths
1,053 ft²
$950/ft²
$1,000,000
Dec 1, 2022
-
$950/mo
Past Sales
Date | Unit | Beds | Baths | Sqft | Price | Closed | Owner | Listed By |
---|---|---|---|---|---|---|---|---|
03/16/2021
|
|
8 Bed
|
5 Bath
|
3315 ft²
|
$1,305,000
8 Bed
5 Bath
3315 ft²
|
$1,085,000
-16.86%
07/30/2021
|
Cynthia Fleming
|