2616 Hillside DrAnderson, CA 96007

Property Details for 2616 Hillside Dr

Year built

1980

Property size (Sq ft)

4,000 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a well-maintained four-unit apartment building located at 2616 W Hillside Dr, Anderson, CA 96007. The property, built in 1980 and boasting recent renovations (2022-2024), offers a compelling combination of strong cash flow and future appreciation potential. The 4,000 square foot building sits on a spacious 14,810 square foot lot and is zoned R1. Currently operating at 100% occupancy, the property generates a substantial net operating income (NOI) of $37,200, with a pro-forma NOI projected at $38,000. This translates to a current cap rate of 6.41% and a pro-forma cap rate of 6.55%, representing a strong return on investment. Each of the four units features two bedrooms and one bathroom, complete with in-unit washer/dryer hookups, private storage sheds, and private yards. Ample parking is provided with a four-car garage. The asking price is $580,000, or $145,000 per unit, representing a price per square foot of $145. This turnkey investment property offers a stable income stream in a desirable location, making it an ideal addition to any portfolio. The property is not subject to a ground lease.

Location Insight

City

Anderson

County

Shasta

State

California

Latitude

40.4427

Longitude

-122.297

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