|
|
206 Harps St 6 Unit Apartment Building $1,425,000 ($237,500/Unit) San Fernando, CA 91340
INVESTMENT HIGHLIGHTS
- No Rent Control
- 6 Units - 4 1-bed/1-bath & 2 2-bed/1-bath
- Assumable Loan @ 3.89% Fixed Thru 5/2029
EXECUTIVE SUMMARY
206 Harps St, San Fernando, CA 91340
6 Units | Non-Rent Controlled | Assumable Loan at 3.89%
Offered at: $1,425,000
Presented by Art Minassian & Ron Kassan
AvailableWarehouses.com Team – Spectrum Commercial Real Estate, Inc.
Opportunity to acquire a well-maintained 6-unit multifamily in the high-demand San Fernando submarket, free from city rent control. The unit mix includes four 1-bedroom / 1-bath units and two 2-bedroom / 1-bath units, offering a diversified rent roll and consistent income.
The property features a 3.89% fixed assumable loan with a remaining balance of approximately $828,000, available to assume through May 2029 with a 1% assumption fee. This attractive financing structure provides significant cost savings in today’s higher interest rate environment.
Gross scheduled income totals approximately $121,290 annually, providing immediate in-place returns with further upside potential.
6 Units | Non-Rent Controlled | Assumable Loan at 3.89%
Offered at: $1,425,000
Presented by Art Minassian & Ron Kassan
AvailableWarehouses.com Team – Spectrum Commercial Real Estate, Inc.
Opportunity to acquire a well-maintained 6-unit multifamily in the high-demand San Fernando submarket, free from city rent control. The unit mix includes four 1-bedroom / 1-bath units and two 2-bedroom / 1-bath units, offering a diversified rent roll and consistent income.
The property features a 3.89% fixed assumable loan with a remaining balance of approximately $828,000, available to assume through May 2029 with a 1% assumption fee. This attractive financing structure provides significant cost savings in today’s higher interest rate environment.
Gross scheduled income totals approximately $121,290 annually, providing immediate in-place returns with further upside potential.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$121,290
|
$29.89
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$121,290
|
$29.89
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$17,817
|
$4.39
|
| Net Operating Income |
$103,473
|
$25.50
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $121,290 |
| Annual Per SF | $29.89 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $121,290 |
| Annual Per SF | $29.89 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $17,817 |
| Annual Per SF | $4.39 |
| Net Operating Income | |
|---|---|
| Annual | $103,473 |
| Annual Per SF | $25.50 |
PROPERTY FACTS
| Price | $1,425,000 | Building Class | C |
| Price Per Unit | $237,500 | Lot Size | 0.21 AC |
| Sale Type | Investment | Building Size | 4,058 SF |
| Gross Rent Multiplier | 11.75 | Average Occupancy | 97% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1955 |
| Property Subtype | Apartment | Parking Ratio | 1/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R3, San Fernando | ||
| Price | $1,425,000 |
| Price Per Unit | $237,500 |
| Sale Type | Investment |
| Gross Rent Multiplier | 11.75 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 4,058 SF |
| Average Occupancy | 97% |
| No. Stories | 2 |
| Year Built | 1955 |
| Parking Ratio | 1/1,000 SF |
| Zoning | R3, San Fernando |
AMENITIES
UNIT AMENITIES
- Air Conditioning
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
| 2+1 | 2 | - | - |
Walk Score®
Walker's Paradise (93)
PROPERTY TAXES
| Parcel Number | 2520-020-002 | Improvements Assessment | $289,658 |
| Land Assessment | $267,931 | Total Assessment | $557,589 |
PROPERTY TAXES
Parcel Number
2520-020-002
Land Assessment
$267,931
Improvements Assessment
$289,658
Total Assessment
$557,589
MAP
ADDITIONAL PHOTOS
Plat Map
Building Photo
Building Photo