$1.27M
627 E Virginia Terrace, Santa Paula
Sale Price
$1.27M
Cap Rate
5.06%
Type
O
Closed
March 2020
7 Units | Santa Paula | All Cash
The LA Apartment Advisors are proud announce the successful sale of these 7 units located at 627 E Virginia Terrace in Santa Paula, California. Built in the 1950's, the property sits on a huge 26,350 square feet of land with 6,020 square feet of rentable area and consists of 6- one bed / one bath and 1- three bed / two bath units. This transaction was a trust sale with two vacant units where we were able to bring the buyer.
With our market expertise, we were able to bring an offer from a local investor who wrote all cash, $10,000 above asking with a quick close. We then successfully negotiated a $40,000 credit as well as a strategy to limit some of the risk of some of the current market risks. The buyer plans on remodeling the units as they become vacant and leasing them out at market rents.
For more information about this transaction or a complimentary evaluation of your property, give us a call today!
Closing