About this home

Huge ~700k Price Reduction! 100% Renovated 12-unit apartment building cash flowing at an amazing current 7% Cap Rate from day 1. Preliminary plans to add 8 detached ADUs to achieve a remarkable 10.8% Cap Rate, 7.3 GRM, and 198k/unit after taking into account all construction costs (~745k assuming $225/SF). The property features an easy to rent unit mix of 12 (1-bed/1bath) units including 4 brand-new retail to apartment conversions as well as 2-brand new attached ADUs. Turnkey opportunity where every single unit was vacated, completely renovated, and leased at market rent with additional upside by building 8 detached ADUs in the back parking lot. The property is separately metered for gas and electrical utilities and each unit has its own individual water heater to further reduce operating costs. The property has undergone major capital improvements including updated electrical, plumbing, brand-new windows, interiors, exteriors, etc. The fully remodeled units boast new modern cabinets, flooring, lighting, new bathrooms, and more.

Facts and features

Schools

• Jordan High School

  high · 9-12 · 0.5 mi

  3

• Lindbergh Middle School

  middle · 6-8 · 0.8 mi

  4

• Harte Elementary School

  elementary · K-5 · 0.8 mi

  6

• Gethsemane Baptist Christian

  elementary · K-12 · 0.4 mi

• Grant Elementary School

  elementary · K-5 · 0.6 mi

  4

• Seaside Academy

  elementary · K-12 · 0.7 mi

Price history

• Oct 20, 2026 · Listed$3,225,000
• Oct 17, 2026 · Listing Removed—
• Sep 17, 2026 · Price Changed$3,225,000
• Aug 13, 2026 · Listed$3,295,000
• Aug 7, 2026 · Listing Removed—
• Jul 9, 2026 · Price Changed$3,295,000
• Jun 8, 2026 · Listed$3,395,000

Where it is