310 H StLompoc, CA 93436

Property Details for 310 H St

Lot size

0.20 AC

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

085-232-015

APU

85232015

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $3,216,074

  6.5%

  $2,968,684

  7%

  $2,756,635

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,567,844

  Geo Method

  $2,567,844

• Alternative Use

  Use

  Valuation

  Residential

  $2,968,684

  Hospitality

  $2,719,298

  Educational

  $2,262,424

  Medical

  $2,340,232

  Retail

  $3,519,326

Location Insight

City

Lompoc

County

Santa Barbara

State

California

Latitude

34.6352

Longitude

-120.458

CBSA code

42200

CBSA name

SANTA MARIA-SANTA BARBARA, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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