This exceptional investment opportunity presents an eight-unit single-family rental portfolio situated on a substantial 2.42-acre lot in Visalia, California. The property comprises eight detached single-family homes, each approximately 900 square feet, featuring two bedrooms and one bathroom. Each unit includes washer/dryer hookups and a detached garage. Tenants are responsible for all utilities except trash removal, which is covered by the landlord. Currently, seven units are occupied, generating a gross monthly rent of $5,746. The property boasts a current NOI of $53,157 and a pro-forma NOI of $76,893, translating to a current cap rate of 5.32% and a pro-forma cap rate of 7.70%. The asking price is $999,000, representing a price per unit of $124,875 and a land value of $139 per square foot. The seller maintains one vacant unit for personal use when visiting. According to the seller, the property is zoned R2, potentially allowing for the construction of up to 34 units; however, buyers are advised to independently verify zoning and building regulations. Discrepancies may exist between the provided square footage and bedroom counts and tax records; verification by the buyer is recommended. Each home has a separate address (115, 119, 121, 140, 142, 144, 145, 146). The seller is seeking a 1031 exchange and is not considering alternative financing options at this time. The property is located at 140 S Ross St, Visalia, CA 93292.
Highlights
$999,000 asking price for an 8-unit multifamily property.
5.32% current cap rate, 7.70% pro-forma cap rate.
$53,157 current NOI, $76,893 pro-forma NOI.
Eight single-family homes on a 2.42-acre lot in Visalia, CA.
How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.
Please check your inbox to complete the process.
Just click on the link in that email to complete your Sign up.
If you don’t see it, you may need to check your spam folder.
Email verification link expired
It seems that the verification link has expired.
No worries! We can send you a new link to email
Log In
Don't have an account?
Reset your password
New to Paperhouses?
Paperhouses
Reset your password
Enter the email address associated with your account and we'll send you a link to reset your password.
Check your email
We've resent password reset instructions to if it is an email on file.
Thanks! If matches an email we have on file, then we've sent you an email containing further instructions for resetting your password.
If you haven't received an email in 5 minutes, check your spam, resend, or try a different email.