2980 Coloma StPlacerville, CA 95667
- Residential income properties
- 12,800 SF
Property Details for 2980 Coloma St
- Year built
- 1875
- Property size (Sq ft)
- 12,800 SF
- Property type
- Residential income properties
- Property subtype
- Multifamily properties
Description
This exceptional investment opportunity presents a two-building, multifamily property situated on a spacious 0.46-acre lot in Placerville, California. The property, boasting a total of 12,800 square feet, comprises a 31-bed single-room occupancy community and a separate six-bedroom, three-bathroom single-family home. Built in 1875 and renovated in 1910, the property features pitched roofs and on-site laundry facilities. Currently generating a strong net operating income (NOI) of $145,456, resulting in an attractive 9.70% capitalization rate, this asset offers significant potential for increased profitability. The property's location in a desirable residential neighborhood provides easy access to Highway 50, placing it within convenient reach of employment centers, shopping, and dining options in downtown Placerville. The R106 zoning designation ensures flexibility for future development or operational enhancements. The property is offered at an asking price of $1,500,000, presenting a compelling return on investment. On-site management is currently in place. The property's APN is 001-161-027. This is a rare opportunity to acquire a high-yielding multifamily property in a thriving California market. Potential for increased cash flow exists through market-rate rent adjustments and addressing the loss-to-lease gap.
Location Insight
- City
- Placerville
- County
- El Dorado
- State
- California
- Latitude
- 38.7291
- Longitude
- -120.804
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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