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Map
$1,490,062*
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Multifamily -
Off Market
363 Manzanita
Mammoth Lakes, CA 93546
10 Beds
5 Baths
4464 Sqft
$1,172,000 - $1,432,000
Reference Base Price*
14.44%
Since Sep 1, 2021
National-US
Primary Model
About This Property
Highly sought after and well maintained Residential Income
Opportunity! Five units with 2 garages. There are five,
2 Bed/1 Bath units with common laundry. Rent for Unit #5 includes
the use of one garage. All tenants have paid rents in full,
even during Covid 19. The owners of this five unit project have
maintained this property to a strict maintenance schedule with
$32,422 in capital improvements over past 3 years; The great
condition of this property is what separates it from most other
income properties in Mammoth Lakes. Remodeled right before
owner's purchase, nice kitchens, new roof June 2012-inspected every
summer, exterior paint 2019, Rents have been kept below market
during Covid-19 ensuring timely rent payments. freestanding
woodstoves and wall heaters. 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. Most rents renewable 10/31/21. In addition to
this property being offered for sale, the owner also has two
fourplex units at 168 Mono Street and 169 Lupin street available
for purchase. Great opportunity to take advantage of
economies of scale. Owner prefers to sell all three
properties to one buyer, but they are negotiable. Net income
provided herein reflects current taxes and doesn't incorporate
Capital Improvements over the past 3 years. Actual Expenses
in 2020 were $32,595. Gross Annual Rents for 2021 are estimated to
be $94,692 based on current rents. Expenses include 11% of gross
for professional management costs, self-managing could increase Net
Income substantially.
The manager has listed the unit size as 4464 square feet.
The manager has listed the unit size as 4464 square feet.
Unit Size
4,464Ft²
Days on Market
-
Land Size
-
Price per sqft
$292
Property Type
Multifamily
Property Taxes
-
HOA Dues
-
Year Built
1975
Price History
Date / Event | Date | Event | Price |
---|---|---|---|
Aug 2, 2021 | No longer available | - | |
No longer available | |||
Apr 15, 2021 | Price Increased |
$1,302,000
↑ $100K
(8.3%)
|
|
Price Increased | |||
Apr 9, 2021 | Price Decreased |
$1,202,000
↓ $200K
(14.3%)
|
|
Price Decreased | |||
Mar 16, 2021 | Listed | $1,402,000 | |
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
Past Sales
Date | Unit | Beds | Baths | Sqft | Price | Closed | Owner | Listed By |
---|---|---|---|---|---|---|---|---|
03/16/2021
|
|
10 Bed
|
5 Bath
|
4464 ft²
|
$1,402,000
10 Bed
5 Bath
4464 ft²
|
-
-
|
-
|
Cynthia Fleming
NextHome Mammoth Lakes
|