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310 5th St, Solvang CA

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Address: 310 5th St, Solvang, CA 93463, USA

California & West + Apartment Buildings

Created date: September 3, 2024

Date last updated: September 3, 2024

Well maintained 10 unit apartment building in the quaint Danish town of Solvang.
Over 40 percent upside in rents.
Upgrades within the last 5 years.

Property Description

Don’t miss this very rare opportunity to acquire a well-maintained 10-unit apartment building located in the heart of the desirable City of Solvang. All the units are 1 bed and 1 bath with separate electric and gas meters, and the residents enjoy a private laundry room and off-street parking in the rear of the building. Upgrades within the last 5 years include laminate flooring in many of the units, new water heater, new dual pane windows and a complete replacement of the asphalt driveway and parking lot. The units are close to all that downtown Solvang has to offer, including restaurants, galleries, shops, and more. With over 40 percent upside in rents, this property offers the prudent investor lots of upside opportunity.

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Broker Details

Steven Battaglia

Battaglia Commercial Real Estate 805.688.5333

Key Property Information

Listing Status:	Available
Property Types:	Apartment Buildings
Price:	$3,600,000
No. of Units:	10
Cap Rate:	4.52%
GRM /GIM:	14.22
Building Size:	4,500 Sq ft
Lot Size:	8,712.00 Sq ft
No. of Stories:	2
APN:	139-200-012
Zoning Code:	DR-20
Opportunity Zone:	No
Price per unit:	$360,000
Parking Spaces:	10