|
8 Unit Multi-Family Property For Sale
2380 Lillie Ave, Summerland, CA
|
|
|
Investment Highlights
- LOCATION!
- LOCATION!
- LOCATION!
- Beach Community
- Potential Upside
- Accessibility to Services
- Tourist Area
|
|
|
|
|
|
GPS Commercial Real Estate Services is pleased to exclusively present this opportunity to acquire 100% fee interest in a small apartment complex in the southern California beach community of Summerland. This irreplaceable property consists of 5 buildings and holds 8 units, one is currently operated on a commercial basis. Five of the eight units have ocean views. The units are in good condition and the location near the beach and services will accommodate a substantial upgrade to achieve maximum rents.
The unique property is well located along Lillie Ave. immediately off Highway 101 which runs parallel to the commercial corridor of Summerland. Immediately south of Montecito and just a few miles from Santa Barbara as well as a few hundred feet from Lookout Park and Summerland Beach makes this location unforgettable and intriguing.
The surrounding area has an affluent demographic profile with the population of Summerland having an average household income of $109,000/yr.
The tenants are all on a month to month lease except for one unit whose lease expires March of 2018. Units are individually metered for gas and electric and master metered for water service.
|
|
|
|
|
|
|
|
GPS Commercial Real Estate Services, Inc.
1129 State Street
Suite #3
Santa Barbara, CA 93101
www.gpscre.com
|
|
Pamela Scott
President
805.560.0040 (o)
805.729.1706 (c)
pscott@gpscre.com
|
|
|
|
|
