Seller's Agent in 2021
Matthew Lehman
Matthew Lehman Real Estate
(760) 822-5845
92 in this area
108 Total Sales
363 Manzanita Rd Unit 89 Mammoth Lakes, CA 93546
8
Beds
4
Baths
--
Sq Ft
1975
Built
Highlights
- Wood Burning Stove
- Balcony
- Double Pane Windows
- Mammoth High School Rated A-
- 2 Car Attached Garage
- Laundry Facilities
About This Home
As of August 2021Highly sought after and well maintained Residential Income Opportunity! Five units with 2 garages. There are five, 2 Bed/1 Bath units with common laundry. Rent for Unit #5 includes the use of one garage. All tenants have paid rents in full, even during Covid 19. The owners of this five unit project have maintained this property to a strict maintenance schedule with $32,422 in capital improvements over past 3 years; The great condition of this property is what separates it from most other income properties in Mammoth Lakes. Remodeled right before owner's purchase, nice kitchens, new roof June 2012-inspected every summer, exterior paint 2019, Rents have been kept below market during Covid-19 ensuring timely rent payments. freestanding woodstoves and wall heaters. Market rents are higher than actual rents and can be increase as each short term lease expires. Rents are renewable under State AB-1482 can meet current market rents within 2 years. Most rents renewable 10/31/21. In addition to this property being offered for sale, the owner also has two fourplex units at 168 Mono Street and 169 Lupin street available for purchase. Great opportunity to take advantage of economies of scale. Owner prefers to sell all three properties to one buyer, but they are negotiable. Net income provided herein reflects current taxes and doesn't incorporate Capital Improvements over the past 3 years. Actual Expenses in 2020 were $32,595. Gross Annual Rents for 2021 are estimated to be $94,692 based on current rents. Expenses include 11% of gross for professional management costs, self-managing could increase Net Income substantially.
Last Agent to Sell the Property
Matthew Lehman Real Estate License #01149776 Listed on: 03/16/2021
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1975
Lot Details
- West Facing Home
- Level Lot
Parking
- 2 Car Attached Garage
Home Design
- Quadruplex
- Flat Roof Shape
- Wood Siding
Interior Spaces
- 2-Story Property
- Wood Burning Stove
- Double Pane Windows
- Fire and Smoke Detector
Kitchen
- Electric Oven
- Microwave
- Dishwasher
- Disposal
Outdoor Features
- Balcony
Utilities
- Heating Available
- Electric Water Heater
Listing and Financial Details
- Assessor Parcel Number 033-150-040-000
Community Details
Overview
- 5 Units
- Sierra Valley Sites I Subdivision
Amenities
- Laundry Facilities
Building Details
- Gross Income $94,692
- Net Operating Income $32,595
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 |
|---|---|---|---|---|
| 08/20/2021 08/20/21 | Sold | $1,185,000 | -9.0% | -- |
| 06/17/2021 06/17/21 | Pending | -- | -- | -- |
| 04/12/2021 04/12/21 | Price Changed | $1,302,000 | +8.3% | -- |
| 04/08/2021 04/08/21 | Price Changed | $1,202,000 | -7.7% | -- |
| 04/08/2021 04/08/21 | Price Changed | $1,302,000 | -7.1% | -- |
| 03/16/2021 03/16/21 | For Sale | $1,402,000 | -- | -- |
Source: Mammoth Lakes Board of REALTORS® MLS
Tax History Compared to Growth
Agents Affiliated with this Home
-
Matthew Lehman
-
Cynthia Fleming
Seller Co-Listing Agent in 2021
Cynthia Fleming
Mammoth Lakes Resort Realty
(760) 914-4444
167 in this area
170 Total Sales
-
Karen Nelson
Buyer's Agent in 2021
Karen Nelson
Realty World Pacific West Prop
(760) 709-1000
32 in this area
46 Total Sales
Map
Source: Mammoth Lakes Board of REALTORS® MLS
MLS Number: 210225
APN: 033-150-040-000
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