36-Bedroom Residential — 83298 Argus Avenue, Trona, CA

About this property

(36 units /36Beds/36Baths/Each Unit is 500sqft 1B1B) Multi-family commercial/residential complex for sale. After Construction, the property may be rented via Section 8 Government Housing. Section 8 currently pays about $1,000 for each unit. The property consists of four separate apartment buildings with an equal number of units in each all configured as one bedroom one bathroom units totaling approximately 22000 square feet of living area on an expansive three acre lot. Utilities including gas water and electric are present and the property features separate laundry room structures. Two of the four buildings have recently received new roofs and one unit in the first building has been fully completed while the remaining units are ready for renovation. The entire complex is currently vacant and offers significant upside potential with projected rents of $1000-$1,200 per unit upon completion as Trona continues to grow and much of the surrounding real estate is being actively rehabilitated creating strong future demand and long term upside. Plan of Action to get leased available soon in MLS supplements. Construction Cost Supplements coming soon. There is already a successful apartment complex with over 50 units in Trona known as the Searles Valley Apartments. They currently have a large waiting list, which suggests tenants are already waiting to move in!

Property details

Location

83298 Argus Avenue • Trona, CA 93562

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Listed by

Gilberto Garcia · Rise Realty