2661 Los Robles Rd
Thousand Oaks, ca
Marcus & Millichap is proud to present this turn-key 3 unit property located at 2661 Los Robles Road in Thousand Oaks, California. Situated on a large 8,508 square foot lot with 1,912 SF of rentable area, the offering is composed of an excellent mix with two, 1-bed / 1-bath cottages and one, main house 3-bed / 1.5-bath unit.
In 2017, the property had an extensive renovation done. This renovation included:
New roofs, total re-plumbing, all new electrical, remodeled kitchens and bathrooms, all new stainless steel appliances, new cabinets in kitchen, new showers, sinks, vanities, toilets, and cabinets in the bathroom, new stacked washer/dryers, new water heaters, new wood laminate floors, new lighting fixtures in living room, bedrooms, bathrooms, and kitchen. New electric gate for back unit. New wood fenced dividers for each unit. Removed dead oak tree, shrubs, and added a dog run with fencing for front unit yard.
With all three units currently rented at near market rents, this property offers an investor an impressive 5.08% CAP rate from day 1, based on current income and expenses. Furthermore, since the property has less than 5 units, an investor can lock in a residential loan with today's very low interest rates, which will be fixed for 30 years. An investor should expect a down payment of around 25% ($306k), and an owner-user would only need a 20% down payment ($245k).
The subject property offers an investor a very rare opportunity to acquire a hassle-free, high cash flow, and turn-key triplex in a market that almost never sees multifamily properties hit the market!