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16280 Askin Dr

2 Unit Block of Flats £390,443 (£195,221/Unit) 4.31% Net Initial Yield Pine Mountain Club, CA 93222

Executive Summary

Rare legal duplex in Pine Mountain Club - 2 detached homes on a R3 lot directly across the street from the Village. Both homes will be delivered vacant to allow the new owner maximum flexibility - enjoy one of the homes for yourself and rent out the other to help offset expenses, keep them both for yourself to create the perfect multigenerational family compound, or lease them both and own a 2-unit income property at a great price. Both 3 bedroom/1.5 bathroom homes are the exact same 1,280 SF and offer direct-access garages, fireplaces, decks, and yards. The charming front house is a reverse floorplan with the bedrooms down and living spaces up to allow for soaring cathedral ceilings in the great room and to maximize the mountain views from the upper deck. The front house also features brand new carpet and flooring, freshly painted interiors and deck, and new 5-burner gas range and stainless sink in the kitchen. The back house features a more traditional floorplan with the living spaces down and the bedrooms up. Both homes need some TLC but offer a unique value-add opportunity to update and achieve premium rents on a long or short term basis. As a member of the PMCPOA, you'll enjoy an extensive list of amenities - Olympic-style pool and spa, tennis and pickleball courts, a USGA-rated 9-hole golf course, and Lampkin Park with basketball, baseball, and Bocce. There's also an archery range, equestrian center, dog park, private campground, Fern's Lake for fishing, and numerous hiking and biking trails. The clubhouse offers 2 dining venues, games, and an active schedule of live concerts and events. Plus, our four-season community takes care of the essentials like 24/7 security, street maintenance, and snow removal, all within a scenic 90-minute drive to Los Angeles.
Rents and expenses are estimated. Annual POA fee is $1,961. Broker/Agent does not guarantee the accuracy of square footage, lot size or other information concerning the condition or features of property provided by seller or obtained from public records or other sources, buyer is advised to independently verify the accuracy of that information through personal inspection and with appropriate professionals to satisfy themselves.

Financial Summary (Pro forma - 2025) Click Here to Access

Annual Annual Per SF
Gross Rental Income $99,999 $9.99
Other Income - -
Vacancy Loss - -
Effective Gross Income $99,999 $9.99
Taxes $99,999 $9.99
Operating Expenses $99,999 $9.99
Total Expenses $99,999 $9.99
Net Operating Income $99,999 $9.99

Financial Summary (Pro forma - 2025) Click Here to Access

Gross Rental Income
Annual $99,999
Annual Per SF $9.99
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual -
Annual Per SF -
Effective Gross Income
Annual $99,999
Annual Per SF $9.99
Taxes
Annual $99,999
Annual Per SF $9.99
Operating Expenses
Annual $99,999
Annual Per SF $9.99
Total Expenses
Annual $99,999
Annual Per SF $9.99
Net Operating Income
Annual $99,999
Annual Per SF $9.99

Property Facts

Price £390,443
Price Per Unit £195,221
Sale Type Investment
Net Initial Yield 4.31%
Gross Rent Multiplier 13.9
No. Units 2
Property Type Residential
Property Subtype Apartment
Apartment Style Single Family Home
Building Class C
Lot Size 0.25 AC
Building Size 2,560 SF
Average Occupancy 0%
Number of Floors 2
Year Built 1981

Unit Mix Information

Description No. Units Avg. Rent.Mo SF
3+1.5 2 - -
  • Listing ID: 34020122

  • Date on Market: 27/11/2024

  • Last Updated:

  • Address: 16280 Askin Dr, Pine Mountain Club, CA 93222

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