10 Unit Garden Style Apartment Complex
20% UPSIDE in rents
Strong income-producing, pride of ownership property
in GREAT condition.
At Lake Isabella in the Kern River Valley
$1,199,000 (only $119,900 per unit) for LARGE, Clean Units
2924, 2928 & 2936 Claire St, Lake Isabella, CA
10 units consisting of:
4 duplex - each unit with 2 beds + 1 bath
1 single family home
1 one bedroom unit
Situated on 4 parcels of land totaling ¾ of an acre.
Exterior Photos
Located in the heart of the stunning Kern River Valley, Lake Isabella is surrounded by breathtaking mountains, lush forests and crystal-clear lakes and streams. Lake Isabella appeals to tourists, remote workers, retirees, boaters and those who appreciate the great outdoors and desire clean air & quality of life not found in the city!
Interior Photos
Pitched roofs, separate gas and electric metered, 9 units have their own washer-dryer hook-ups, and they feel like private homes. All units have yards and storage. Many units have been upgraded/ remodeled. One newly remodeled vacant unit is perfect for an investor/ owner user who desires to live on site.
Unit E - Living Room
Unit E - Bedroom 1
Unit E - Bathroom
Unit E - Kitchen
Unit E - Bedroom 2
Unit A - Living Room
Unit J - Living Room
Unit J - Bathroom
Unit J - Dining Area
Financials & Rent Roll
GREAT opportunity for the buyer seeking both a steady stream of rental income, and HUGE UPSIDE. There are also ways to produce additional income, too. Lake Isabella properties like this are RARE; current income $109k per year gross.
Upgraded Units, Stunning Grounds, and Strong Demand
Over the past three years the current owner has spent over $240,000 meticulously upgrading several units and the grounds. Interior Improvements include quartz countertops, LVP flooring, new fixtures and much more. The photos speak for themselves. Renters in Lake Isabella will pay $1,095 / month for quality 2-bedroom units, demand is strong. The next owner will benefit from recent work, generating higher rents.
Tenants love outdoor activities, appreciate the natural beauty and want to enjoy the quality of life. A town small enough to appreciate and large enough to have a Starbucks and Vons Supermarket nearby as well as several local eateries and shops. And when you're done collecting rents you can go fishing!
