Skip To Content

    363 Manzanita

    Mammoth Lakes, CA 93546
    • $1,202,000
    • STATUS: Active
    • ON SITE: 25 days
    • MLS #: 210225
    Price Reduced
    UPDATED: 42 min ago
    $1,202,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1975

    School Ratings & Info

    Description

    Highly 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.

    Monthly Payment Calculator



    © 2021 Mammoth Lakes Board of Realtors. All rights reserved. IDX information is provided exclusively for consumers' 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 is not guaranteed accurate by the MLS or Rebecca Garrett - Mammoth Realty Group. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Data last updated: 2021-04-11T20:51:23.353.

    Licensed in the State of California.
    www.rebeccagarrett.com/homes/115132983
    Print Image

    363 Manzanita Mammoth Lakes, CA 93546

    • Price: $1,202,000
    • Status: Active
    • Updated: 42 min ago
    • MLS #: 210225
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    1975
    Built
    Neighborhood:
    Sierra Valley Sites I
    Area:
    Mammoth Lakes
    Property Description
    Highly 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.
    Exterior Features

    Exterior Wood Siding Garage Capacity Two Garage Type Attached Garage Lot Description Level Porch Patio Open Balcony Roof Flat

    Interior Features

    Appliances DishwasherGarbage DisposalMicrowaveEle. Surface UnitElectric Oven Cooling None Fireplace Wood Stove Heating Electric Interior Amenities Smoke Detector Laundry Common Area Unit1 Baths 1 Unit1 Bedrooms 2 Unit1 Furnished No Unit2 Baths 1 Unit2 Bedrooms 2 Unit2 Furnished No Unit3 Baths 1 Unit3 Bedrooms 2 Unit3 Furnished No Unit4 Baths 1 Unit4 Bedrooms 2 Unit4 Furnished No Water Heater Electric Windows Double Pane

    Property Features

    Gas None Gross Annual Income 94692 Hoa Amount 0 List Type CommercialResidential Income & Vacant Land Listing Agreement Lot Unit 89 Orientation West Sewer Public Sewer Type Four Plus Unit1 Rent 1439 Unit2 Rent 1550 Unit3 Rent 1439 Unit4 Rent 1550 Water Public Water Zoning Rmf-1

    Listing provided courtesy of Cynthia Fleming of Mammoth Lakes Resort Realty.
    © 2021 Mammoth Lakes Board of Realtors.


    © 2021 Mammoth Lakes Board of Realtors. All rights reserved. IDX information is provided exclusively for consumers' 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 is not guaranteed accurate by the MLS or Rebecca Garrett - Mammoth Realty Group. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Data last updated: 2021-04-11T20:51:23.353.

    Licensed in the State of California.
     
    https://bt-photos.global.ssl.fastly.net/mammoth/orig_boomver_1_210225-2.jpg https://bt-photos.global.ssl.fastly.net/mammoth/orig_boomver_1_210225-2.jpg https://bt-photos.global.ssl.fastly.net/mammoth/orig_boomver_1_210225-2.jpg
    Logo
    Rebecca Garrett - Mammoth Realty Group
    501 Old Mammoth Road PO Box 100 - PBM #574
    Mammoth Lakes CA, 93546