1001-1021 E Cypress Avenue Lompoc, CA 93436
Unique opportunity to acquire 60 units in two contiguous multifamily properties located at 1001 E Cypress Avenue ('Bahia La Paz') and 1021 E Cypress Avenue ('Kimi East') situated on the Central Coast in the City of Lompoc. Both buildings are garden-style courtyard communities that provide an excellent unit mix of 40 x 2BD/1BA units and 20 x 1BD/1BA units, excellent onsite parking, onsite laundry facilities, functional unit layouts, and an ideal location in the Lompoc Valley.Bahia La Paz is 24-unit Mission-style, red tiled roof building constructed in 1984 consisting of sixteen 2BD/1BA townhome units (with fireplaces) and 8 X 1BD/1BA flats. Tenants enjoy either private patios or balconies, a common courtyard with two community BBQs, an onsite laundry facility, and on-site parking consisting of 26 carport spaces and 17 uncovered spaces. All tenants are on a month-to-month lease with current rents that are approximately 25% below market.Kimi East Apartments is a 36-unit Mid-Century building constructed in 1963 and comprised of 24 X 2BD/1BA units and 12 X 1BD/1BA (all flatunits). Tenants enjoy a common courtyard with three community BBQs, two on-site laundry rooms and 36 carport spaces with tenant storage closets. All tenants are on a month-to-month lease with current rents that are approximately 35% below market. Ownership has recently replaced all railings at the property to meet today's code.
- Property TypeMulti-Family
- NeighborhoodN/A
- CountySanta Barbara
- Taxes$0
- HOA/Condo/Coop Fees$0
- Days on Site23 Days
- MLS StatusActive
- MLS ID Number24000664
- Home Size Source N/A
- Year BuiltN/A
- Lot Size1.9 Acres
- Full Baths60
- Partial BathsN/A
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