222 F Street, Needles, CA 92363
Commercial property
Sold May 2019
Listing Agent: Peter Cole (DRE #01749593) · Listing Office: C-21 Masters · Contact: 909-595-6697 · Bought with: Peter Cole · C-21 Masters · MLS #RS18165277 · Source: CRMLS
How this sale compares
222 F Street sold for $590,000 in May 2019, 1.5% under its $599,000 list price, after 273 days on the market.
Figures are MLS-reported closed sales (CRMLS). Nalren does not estimate values.
About this commercial property
Cap Rate 9.19% with upside to 15.2% !!! Owner Said 17 Units 2 are One Bedroom, One Bath; 10 are studios for $ Call us Per Month per Unit. The last 3 Units are: one 3 Bedroom One Bath at $ call us Month. (which could be divided into a 2 bedroom with a studio unit) also 3 additional studio units. (which need to be remodeled, being used as storage) Would make a total of 17 units. Owners brother there and will move before the close of escrow. Annual Gross Rental Income $81,276, Annual Operating Expense Approx.. $ 26,232 , Annual Net Operating Income $ 55044 Cap Rate Approx. 9.19%. Landlord Pays for Water ,Trash and Common Area's Gas/Electricity even Cablevision! That's why tenants love it, everything included in rent! Close to Everything Centrally Located, Close to Freeway, Walking Distance to Stores and Transportation Local Management Company. No Vacancy's! Easy to Rent waiting list to get in. Most of Tenants are Long-Term Tenants. 5 Units are occupied by owners brother (Not an Owner) would be an additional $3,000/Month $36,000 year not added to these totals. these 5 units will be vacant at close of escrow. and waiting list of renters. Pro Forma Bringing Cap Rate to 15.2% at $117,276 Per Year Gross
Listing description from the May 2019 sale, as reported to CRMLS.
Sale history
Questions about 222 F Street
When did 222 F Street last sell?
222 F Street last sold in May 2019 for $590,000, according to CRMLS-reported closed sales.
What did 222 F Street sell for?
$590,000, 1.5% below the $599,000 list price, after 273 days on the market.
Is 222 F Street for sale now?
222 F Street is not currently listed on the MLS. Browse current homes for sale in Needles on Nalren.