Seller's Agent in 2024
Christos Celmayster
Hayes Commercial Group, Inc.
(805) 563-2111
3 in this area
86 Total Sales
1021 E Cypress Ave Lompoc, CA 93436
East Lompoc Neighborhood
3
Beds
2
Baths
52,608
Sq Ft
1.9
Acres
Highlights
- 1.9 Acre Lot
- Park
- Foothills
- Corner Lot
- Laundry Room
- Bike Trail
About This Home
As of July 2024Unique 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 flat
units). 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.
Last Agent to Sell the Property
Hayes Commercial Group, Inc. Brokerage Email: christos@hayescommercial.com License #01342996 Listed on: 04/15/2024
Last Buyer's Agent
Hayes Commercial Group, Inc. Brokerage Email: christos@hayescommercial.com License #01342996 Listed on: 04/15/2024
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1984
Lot Details
- 1.9 Acre Lot
- Two or More Common Walls
- Corner Lot
- Density is 36-40 Units/Acre
- 085-150-094
Home Design
- Apartment
Interior Spaces
- 52,608 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 3 Bedrooms
- 2 Bathrooms
Parking
- 17 Open Parking Spaces
- 79 Parking Spaces
- 62 Carport Spaces
Additional Features
- Exterior Lighting
- Suburban Location
Listing and Financial Details
- Tenant pays for electricity, gas, sewer, trash collection, water
- Assessor Parcel Number 085150093
Community Details
Overview
- 2 Buildings
- 60 Units
- South East Lmpc Subdivision
- Foothills
Amenities
- Laundry Facilities
Recreation
- Park
- Bike Trail
Building Details
- 60 Separate Electric Meters
- 60 Separate Gas Meters
- 2 Separate Water Meters
- Electric Expense $13,775
- Fuel Expense $12,830
- Insurance Expense $18,865
- Professional Management Expense $42,952
- Operating Expense $328,631
- Gross Income $10,145
- Net Operating Income $530,406
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/12/2024 07/12/24 | Sold | $10,050,000 | -3.8% | $191 / Sq Ft |
| 07/08/2024 07/08/24 | Price Changed | $10,445,000 | 0.0% | $199 / Sq Ft |
| 05/24/2024 05/24/24 | Pending | -- | -- | -- |
| 04/15/2024 04/15/24 | For Sale | $10,445,000 | -- | $199 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Christos Celmayster
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SC24074841
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Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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