127 145 W Santa Barbara Street, Santa Paula CA

Price reduced $75k on 12/1/14. Assumable financing available!--$2.50m loan at 4.5% Interest Only w/ negotiable length term-- Well maintained 28-unit garden style apartment community in midtown Santa Paula w/ (20) 2BD/1BA & (8) 1BD/1BA units. Two palm tree lined 14-unit buildings on separate lots totaling just under 1 acre. 28 carport parking spaces. 2 laundry rooms featuring (6) new sets of washer and dryers bring in generous income. $200k+ in improvements completed June, 2014. Interiors of 10 units upgraded & feature beautiful wood plank laminate flooring in the spacious living rooms. Nice location w/ SFR neighborhood behind property, new manufacturing employer across street and high school less than 1/2 mile away. 9% + upside in rental rates (based on average rents for the area). Available for 10.87 x current gross rents. 9.98 x market rents.