3781 W Line St - Apartments FOR SALE


Bishop, CA 93514
$2,525,000 USD
347-461-6043
3781 W Line St, Bishop, CA for Sale
$2,525,000 USD
Apartments - FOR SALE
1/30
null | 6.02% Cap Rate

3781 W Line St
Bishop, CA 93514


HIGHLIGHTS

  • 9 Units sitting on 1.81 Acres just outside of Bishop; dotted with old growth trees and 1,000 SqFt trout pond
  • Majority of units recently remodeled and re-rented; Property has received $300K - $400K of recent capital improvements
  • Interior remodels, new exterior paint, concrete driveway / walkways, automatic sprinkler system and newer copper water lines
  • Property features 8 separate “single family” style structures, comprising 9 units in total
  • Supply constrained Bishop home and rental market; nearby to Mammoth Lakes ski resort and recreation area
  • Five units can be delivered vacant

OVERVIEW

The Glaser Group is pleased to present 3781 W Line St, a fantastic 9-unit investment property located in Bishop, CA. This large, picturesque property sits on a 1.81 Acre Lot with a 1,000 SqFt trout pond, old growth trees and multiple creeks running through it. The property features 8 separate “single family” style structures, comprising 9 units and 4,937 square feet of living area in total. The front 4-bedroom main house also features a large private garage. The majority of the units have been recently remodeled and re-rented, with five of the units able to be delivered vacant. All in all, the property has received $300K - $400K of recent capital improvements including interior remodels, new exterior paint, concrete driveway / walkways, an automatic sprinkler system and newer copper water lines. 3781 W Line St offers a strong Day 1 cash flow currently sitting at a 6.02% Cap Rate! Additionally, a new buyer may be able to build 1-4 ADUs on the vacant back portion of the lot (Buyer to carry out their own investigation). Bishop, California, nestled in the scenic Owens Valley, presents a compelling multifamily investment market characterized by its unique blend of natural beauty and economic potential. Surrounded by the majestic Sierra Nevada mountain range, Bishop serves as a gateway to outdoor enthusiasts seeking adventure in the Eastern Sierra region including Mammoth Mountain. Bishop has a highly supply constrained home and rental market with very few long or short-term options available to prospective tenants. With its renovated units, scenic & mountainous backdrop, high-demand rental market and strong rents, 3781 W Line St presents a fantastic multifamily investment opportunity in the Eastern Sierra Nevada region.

FOR SALE DETAILS

PRICE

$2,525,000 USD

PRICE/SF

$2,617 USD /SF

# OF UNITS

9

PRICE/UNIT

$280,556

CAP RATE

6.02%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1970

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.91 AC

LAND SF

83,200 SF

ZONING

-

APN/PARCEL ID

011-070-10

ASK ABOUT THIS PROPERTY

Jake GlaserLyon Stahl Investment Real EstateMore Info
347-461-6043

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Jake GlaserLyon Stahl Investment Real EstateMore Info
347-461-6043

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.