Fourplex For Sale - by Matthew Lehman Real Estate
104 Joaquin, Mammoth Lakes, California 93546
Four Units located at the western edge of Sierra Valley Sites, backing up to a wooded lot and Multi-Use Bike/walking path, and in close proximity to Sierra Star Golf Course. Long term, consistent income history. Four, two-bedroom, one-bath units and a detached two car garage with each side of the garage renting for $125. Unit #4 has been upgraded in recent years and rents for $1900. Units 1-3 are in average condition and not to the same upgraded condition as unit #4. Supported market rents are higher than current rents and rents can be increased per California Assembly Bill 1482. Reported net income assumes a 5% management fee, 4% annual expenses for repairs and maintenance, and property taxes based on Prop 13 given a new purchase. Good property for a local owner, particularly one that would like to live in one unit and rent the others. Current owner self-manages and has historically done repairs and maintenance himself. Current Gross income $79,800.