Great 4 unit complex with 4 garages and a storage areas. The property has been under the same ownership for the past 15 years. The owner is ready to sell, does not need a 1031 exchange. The CAP Rate is 6.75 including rents and $500 monthly rent for one garage and one storage room. The new owners CAP RATE including adjusted real property taxes based on the asking price is 5.74 and the gross rent multiplier is just over 13. The property is also close to the mass transit station.
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Listing information last updated on September 17th, 2019 at 4:16pm PDT.