Active
1001 1021 E Cypress Avenue
Lompoc CA, 93436
$10,445,000
$198.54 per sqft
Active
52,608 sqft
Condo
Built in 1984
Listed by Christos Celmayster with Hayes Commercial Group, Inc. 805-563-2111
Unique opportunity to acquire 60 units in two contiguous multifamily properties located at 1001 E Cypress Avenue ("Bahia La Paz") and 1021 E Cypress Avenue ("Kimi East") situated on the Central Coast in the City of Lompoc. Both buildings are garden-style courtyard communities that provide an excellent unit mix of 40 x 2BD/1BA units and 20 x 1BD/1BA units, excellent onsite parking, onsite laundry facilities, functional unit layouts, and an ideal location in the Lompoc Valley.
Bahia La Paz is 24-unit Mission-style, red tiled roof building constructed in 1984 consisting of sixteen 2BD/1BA townhome units (with fireplaces) and 8 X 1BD/1BA flats. Tenants enjoy either private patios or balconies, a common courtyard with two community BBQs, an onsite laundry facility, and on-site parking consisting of 26 carport spaces and 17 uncovered spaces. All tenants are on a month-to-month lease with current rents that are approximately 25% below market.
Kimi East Apartments is a 36-unit Mid-Century building constructed in 1963 and comprised of 24 X 2BD/1BA units and 12 X 1BD/1BA (all flat
units). Tenants enjoy a common courtyard with three community BBQs, two on-site laundry rooms and 36 carport spaces with tenant storage
closets. All tenants are on a month-to-month lease with current rents that are approximately 35% below market. Ownership has recently replaced all railings at the property to meet today's code.
SC24074841
MLSⓇ ID
April 15, 2024
Listed
April 17, 2024
Updated
Map
1001 1021 E Cypress Avenue
Lompoc CA, 93436
Interior Features
Total Stories
2
Laundry Description
Common Area
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
1.9 Acres
Lot Features
36-40 Units/Acre, Corner Lot, Lot Over 40000 Sqft
Sewer
Public Sewer
Other Property Details
Area Name
LOMP - Lompoc
Days on Market
1
Garage
No
Parking Total
79
View
No
County
Santa Barbara
Water Source
Public
Pool
No
Pool Features
None
Buyer Agency Compensation
2.5%
Listing Contact: 805-563-2111
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 4/17/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 4/17/2024 at 12:12 AM UTC