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Upgraded units / 25 Units for Sale 342-352 S Blackstone St

24 Unit Block of Flats £2,972,307 (£123,846/Unit) 5.91% Net Initial Yield Tulare, CA 93274

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Investment Highlights

100% Occupied, ownership just spent $450,000 to upgrade complex.
17,780 Square Feet of Buildings

(25) Units / (4) 1 Bed 1 Bath / (19) 2 Bed 1 Bath /(1) 3 Bed 1 Bath / (1) Studio Unit
Many Renovations in 2014, 2019 & 2024

Executive Summary

25 Units / 4 Buildings 1.8 acre land parcel.
25 units with laundry onsite that has been recently installed. There are 21 carport parking spots & one 2 car garage.
The whole complex has been renovated. Current owner has spent $450,000 on upgrading the complex.
New flooring, granite countertops in the kitchen/bathroom suites, new dual-pane windows, repainting inside/outside, new electric sub-panels, and security system have been installed.
Complex consists of four buildings as follows...
Building 1 - two story building with 12 x 2 bedroom, 1 bath units and 4 x 1 bedroom, 1 bath. Laundry onsite.
Building 2 - fourplex single story building with 3 x 2 bedroom, 1 bath units. Hook-up laundry. 1 studio apartment as well.
Building 3 - triplex single story building with 3 x 2 bedroom, 1 bath units. Hook-up laundry.
Building 4 - duplex building with 1 x 2 bedroom, 1 bath units and hook-up laundry. Additionally, the building contains 1 x 3 bedroom, 1 bath with a hook-up laundry and 2 car garage.
Complex has large yard is onsite that is currently used as a public space for tenants. This can be utilized for construction of new units. Zoning may allow additional 12 –14 units to be built. Buyer needs to verify with City

Tulare Blackstone Apartments FP

Property Facts Under Contract

Price	£2,972,307	Building Class	C
Price Per Unit	£123,846	Lot Size	1.80 AC
Sale Type	Investment	Building Size	17,780 SF
Net Initial Yield	5.91%	Number of Floors	2
No. Units	24	Year Built	1961
Property Type	Residential	Parking Ratio	1.47/1,000 SF
Property Subtype	Apartment Multifamily Dormitory	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Apartment Style	Low Rise

Price	£2,972,307
Price Per Unit	£123,846
Sale Type	Investment
Net Initial Yield	5.91%
No. Units	24
Property Type	Residential
Property Subtype	Apartment Multifamily Dormitory
Apartment Style	Low Rise
Building Class	C
Lot Size	1.80 AC
Building Size	17,780 SF
Number of Floors	2
Year Built	1961
Parking Ratio	1.47/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.