1001-1021 East Cypress Avenue, Lompoc, CA


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About 1001-1021 East Cypress Avenue

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 flatunits). 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.

Features of 1001-1021 East Cypress Avenue

MLS® # 24000664
Price $10,445,000
Bedrooms 60
Bathrooms 60.00
Full Baths 60
Square Footage 52,608
Acres 1.90
Year Built 1984
Type Multi-family
Sub-Type Multi-Family
Status Active

Community Information

Address 1001-1021 East Cypress Avenue
Area Lompoc
Subdivision South East Lmpc
City Lompoc
County Santa Barbara
State CA
Zip Code 93436


Parking Spaces 51
Parking Covered
Has Pool No


Heating Natural Gas
Cooling None


Lot Description Corner
Roof Clay, Shingle
Foundation None

Additional Information

Zoning Multi-Fam R3
Foreclosure No
Short Sale No

Listing Details

AgentChristos Celmayster
OfficeHayes Commercial Group, Inc.

Listing Map

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