505 11th St - Apartments FOR SALE


San Miguel, CA 93451
$1,395,000 USD
805-320-6646
505 11th St, San Miguel, CA for Sale
$1,395,000 USD
Apartments - FOR SALE
1/11
null | 4.3% Cap Rate

505 11th St
San Miguel, CA 93451


HIGHLIGHTS

  • Built in 2008 and meticulously maintained throughout the years
  • Custom wood cabinetry, modern countertops, sleek appliances
  • Seller may carry with 80% leverage and 5% interest-only payments for 5 years

OVERVIEW

Built in 2008, the property shines with pride of ownership—from the sharp curb appeal and newer exterior paint to the solid roof and updated HVAC units. First impressions matter, and this one delivers—whether you’re an investor touring the site or a prospective tenant pulling up for the first time. Inside, the units continue to impress with upgraded finishes like custom wood cabinetry, modern countertops, and sleek kitchen and bath appliances. Each unit also includes in-unit laundry with stackable washer/dryers, a tenant favorite that adds everyday convenience. With everything in place and in excellent condition, maintenance needs are expected to be minimal, supporting long term operational efficiency and strong returns. What makes this offering even more compelling is the seller’s financing: 80% leverage, 5% interest-only payments, and a term of five years or more. In a high rate environment, these terms offer significant value and flexibility compared to today’s traditional lender options—providing a near “nothing down” opportunity with room for future appreciation. While initial cash flow is moderate due to high leverage, rent growth potential is built in. Under AB 1482, annual increases are allowed, and with three units on month-to-month leases, an incoming investor can explore near-term adjustments to enhance yield. For those seeking a turnkey property with upside and standout terms, this is a rare find.

FOR SALE DETAILS

PRICE

$1,395,000 USD

PRICE/SF

$300 USD /SF

# OF UNITS

5

PRICE/UNIT

$279,000

CAP RATE

4.3%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

San Miguel Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2008

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,405 SF

ZONING

RMF

APN/PARCEL ID

021-291-005

ASK ABOUT THIS PROPERTY

Craig LiebermanApartment Investment SpecialistsMore Info
805-320-6646

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Craig LiebermanApartment Investment SpecialistsMore Info
805-320-6646

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