188 Citrus DrFarmersville, CA 93223

Property Details for 188 Citrus Dr

Year built

1979

Construction

WOOD

Lot size

0.22 AC

Property size (Sq ft)

4,113 SF

Zone code

R-3

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

128-092-001-000

APU

128092001000

Description

This exceptional 4,113 square foot commercial building, situated on a 0.22-acre lot at 188 W Citrus Drive in Farmersville, CA, presents a compelling investment opportunity. The property boasts multiple income-generating units currently operating below market rents, offering significant potential for increased revenue. The building is remarkably easy to maintain, a key advantage for investors seeking a low-effort, high-return asset. A significant benefit is the relatively new roofing system, installed less than five years ago, minimizing immediate capital expenditure needs. This translates to immediate cash flow and reduced long-term maintenance costs. The property's location in Farmersville, CA, provides convenient access to local amenities and a stable tenant base. The current rental income stream provides a solid foundation for growth, while the below-market rents offer a clear path to enhance profitability. This is an ideal acquisition for investors seeking a straightforward, manageable, and financially rewarding commercial property. The property's strong fundamentals and upside potential make it a highly attractive investment opportunity in the thriving Farmersville market. Serious inquiries are encouraged to explore this promising venture.

• CAP approach

  CAP return

  Valuation

  6%

  $723,025

  6.5%

  $667,408

  7%

  $619,736

• Comparable approach

  Method

  Valuation

  Relative Method

  $846,557

  Geo Method

  $1,212,298

• Alternative Use

  Use

  Valuation

  Residential

  $667,408

  Hospitality

  $611,342

  Educational

  $508,629

  Medical

  $526,122

  Retail

  $791,201

Location Insight

City

Farmersville

County

Tulare

State

California

Latitude

36.3076

Longitude

-119.208

CBSA code

47300

CBSA name

VISALIA-PORTERVILLE, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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