For Sale
$2,300,000

310 H StLompoc, CA 93436

Prime Lompoc location, renovated, high yield.

Overview

Added:
Dec 11, 2024
Days on market:
115
This fully renovated, eight-unit apartment building in Lompoc, California, presents a compelling investment opportunity. Located at 310 S H St, this property boasts a desirable location just south of Ocean Avenue. The 4,830 square foot building, constructed in 1958, features a mix of six one-bedroom/one-bathroom units and two two-bedroom/one-bathroom units, providing a balanced rental portfolio. Recent upgrades include brand-new luxury vinyl plank flooring, stainless steel appliances (refrigerators and stoves), updated plumbing (plex and water lines), modern wall heaters with thermostats, and efficient tankless water heaters in each unit. The property also offers eight off-street parking spaces. The building sits on a 4,830 square foot lot (APN: 085-232-015) and currently generates a Net Operating Income (NOI) of $125,517, representing a 5.46% capitalization rate. This turnkey asset offers a low-maintenance, high-yield investment with significant potential for long-term growth in a sought-after area of Lompoc, California. The asking price is $2,300,000, translating to a price per square foot of $476. This property is ideal for investors seeking stable returns and appreciation in a thriving market.

Highlights

  • $2,300,000 asking price for an 8-unit apartment building.
  • 4,830 square feet on a 4,830 square foot lot.
  • $476 per square foot price.
  • $125,517 Net Operating Income (NOI).
  • Eight units, a mix of six 1-bedroom/1-bathroom and two 2-bedroom/1-bathroom units.
  • Built in 1958 with eight parking spaces.

Property Details for 310 H St

Property type
Apartment buildings
Square Feet
4,830 SF
Year Built
1958
Units
8

Location Insight

City
Lompoc
County
Santa Barbara
State
California
Latitude
34.635213925449
Longitude
-120.45728802029
310 H St, Lompoc, California

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310 H St
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