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3238 Cherry Lane
About This Property
The kitchen features granite countertops, stainless steel appliances, a 5-burner cooktop, generous pantry storage & a breakfast bar that opens to the dining area & spacious living room. A cozy gas fireplace creates a welcoming focal point, complemented by custom built-ins that add both style & functionality. Sliding glass doors provide easy access to the backyard, creating an ideal setting for indoor-outdoor living & entertaining.
The primary suite offers direct access to the back yard, a custom-organized walk-in closet & an ensuite bath featuring granite countertops & tile flooring. Two additional bedrooms provide flexibility for family, guests, or a home office, including one w/ a convenient Murphy bed. The hall bath also features granite countertops & tile flooring.
Additional amenities include central heating/air conditioning, an indoor laundry room w/ sink, granite countertop & storage, plus a finished two-car garage complete w/ built-in cabinetry.
Follow the tour outdoors to discover a private backyard designed for relaxation & entertaining. Enjoy the covered patio w/ cafe lights, set up for an outdoor television, fire pit area, spa hookup & shed. Mature landscaping is supported by automatic sprinklers & a drip irrigation system. The centerpiece of the backyard is a stunning natural rock feature w/ fountain, creating a peaceful setting to unwind or gather.
Conveniently located near shopping, parks, schools, restaurants & downtown SLO, this property offers comfort, functionality, and the Central Coast lifestyle you've been searching for.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017