NOT LISTED FOR SALE

570 S Mirage Ave Lindsay, CA 93247

1 Bed
1 Bath
400 Sq Ft
1.18 Acres

Last Sold August 24, 2021

Last sale price $1,650,000 $4,125 Per Sq Ft

28 Days on Market

Highlights

  • Corner Lot
  • Multiple cooling system units
  • Coin Laundry
  • No HOA
  • Ceiling Fan
  • Vinyl Flooring

About This Home

As of August 2021

The Lindsay Inn Econo Apartments is a rare value-add and renovation ready opportunity at a reasonable price point that leaves upside for a new owner. The housing demand is extremely high due to the shortage of quality low-cost living. This property could potentially serve Section 8, Veterans, or the needs of other types of government subsidized housing programs which would create a guaranteed monthly income stream. The property is comprised of thirty-two (32) units of which sixteen (16) are econo lodging rooms with some featuring kitchenettes plus sixteen (16) apartment along with ample onsite parking. The ownership has replaced all of the roofs, demoed all of the interiors, 6 renovated units, installed dual pane windows in renovated units along with water heaters. In addition, each apartment unit has sub-panels making it possible to separately meter each unit as part of the renovation.

Last Agent to Sell the Property

Adrian Del Rio

PCG Commercial, Inc License #01431059 Listed on: 06/21/2021

Last Buyer's Agent

Non-MLS Member

Non-MLS Office

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1941

Lot Details

  • 1.18 Acre Lot
  • Corner Lot

Home Design

  • Slab Foundation
  • Masonry
  • Stucco

Interior Spaces

  • 1-Story Property
  • Ceiling Fan

Flooring

  • Laminate
  • Vinyl

Home Security

  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Parking

  • 32 Parking Spaces
  • Carport
  • On-Street Parking
  • Uncovered Parking

Utilities

  • Multiple cooling system units
  • Cooling System Mounted In Outer Wall Opening
  • Window Unit Cooling System
  • Natural Gas Connected
  • Gas Water Heater

Listing and Financial Details

  • Assessor Parcel Number 205-200-020-000

Community Details

Overview

  • No Home Owners Association
  • 7 Buildings
  • 32 Units

Amenities

  • Coin Laundry

Building Details

  • Insurance Expense $12,000
  • Maintenance Expense $24,000
  • Professional Management Expense $30,467
  • Net Operating Income $243,000

Property Details

Home Type

Multi-Family

Year Built

Built in 1941

Lot Details

0

Listing Details

  • Property Type: ResidentialIncome
  • Subtype Description: Apartments,Mixed Use
  • Property Subtype 1: 5 or More Units
  • Stories: 1
  • Year Built: 1941
  • Levels: One
  • Stories: 1
  • Number of One Bedroom Units: 26
  • Number of Two Bedroom Units: 6
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Laminate, Vinyl
  • Price Per Square Foot: 112.24

Exterior Features

  • Construction Materials: Stucco, Wood, Masonry
  • Foundation: Slab
  • Listing Price: 1900000.00
  • Lot Features: Corner, Sidewalk

Garage/Parking

  • Parking Features: Carport, Street, Uncovered
  • Total Parking Spaces: 32

Utilities

  • Security: Carbon Mon Detector, Fire Extinguisher, Smoke Detector
  • Sewer: Public Sewer
  • Utilities: Natural Gas Connected, City
  • Cooling: Ceiling Fan(s), Wall Unit(s), Window Unit(s), MultiUnits
  • Heating: Gas
  • Laundry Features: Coin Operated
  • Water Source: Public

Condo/Co-op/Association

  • Association: No

Schools

  • Senior High School District: Other

Lot Info

  • Zoning Description: Mixed-Use
  • Irrigation: Public District
  • Lot Size Acres: 1.1800
  • Lot Size Sq Ft: 51401

Rental Info

  • Total # Leasable: 32

Multi Family

  • Gross Income: 507780
  • Income Includes: Rent Only
  • Insurance Expense: 12000
  • Maintenance Expense: 24000
  • Number of Units: 32

Tax Info

  • Assessor Parcel Number: 205-200-020-000
  • Bonds/Assessments/Taxes: Unknown

MLS Schools

  • School District (County): Other

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/24/2021 08/24/21 Sold $1,650,000 -13.2% $4,125 / Sq Ft
07/19/2021 07/19/21 Pending -- -- --
06/21/2021 06/21/21 For Sale $1,900,000 -- $4,750 / Sq Ft
Source: MetroList

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Adrian Del Rio

    Seller's Agent in 2021

    Adrian Del Rio

    PCG Commercial, Inc

    (615) 626-6426

    20 Total Sales

    Adrian Del Rio
    Section Image

  • N

    Buyer's Agent in 2021

    Non-MLS Member

    Non-MLS Office

See All Agents

Map

Source: MetroList

MLS Number: 221071995

MetroList
California Tulare County Lindsay 93247

570 S Mirage Ave, Lindsay, CA

This home is located at 570 S Mirage Ave, Lindsay, CA 93247 since 21 June 2021. This property was built in 1941. 570 S Mirage Ave is a home located in Tulare County with nearby schools including Reagan Elementary School, Lindsay Senior High School, and Loma Vista Charter.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

MetroList IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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