UPDATED:
01/24/2025 01:09 AM
Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 52,976 sqft
Price per Sqft $217
MLS Listing ID 233162
Year Built 1986
Lot Size 3.340 Acres
Property Sub-Type Commercial
Property Description
The original description holds true today. ''Spacious contemporary floorplans, custom home finishing touches, carefully crafted details-could we be describing a rental home? Now for the first time the people of Visalia have a rental residence option that is truly luxurious. The elegant Spanish style villas surround spacious landscaped courtyards and feature a swimming pool and heated spa for your relaxation.'' Benart Development originally built the units with the future of Condo Conversion in mind.
Each unit has a designated single car garage on site. There are 37 additional uncovered parking sites. Mature landscape provides for a warm and secluded environment. The gated entry secures the community from drive through traffic and protects personal property on site. Floor Plans in photos. Each unit is furnished with refrigerator, washer and dryer and features fireplaces, tray ceilings and other fine architectural treatments.
Detailed financial information is available to potential buyers who submit a LOI showing the ability to purchase. DSCR @1.25% for 6.5% Loan 30 Year/ADP 5 is $5,156,401. Loan coverage based on 2025 estimated cash flow. Price per SF is $217,000; Doller per Door is $221,000; GRM is 13.5X; CAP is 4.29 based on 2025 reconstructed expense average of last 5 years and scheduled rents.
A lease for EV charging stations is on the table should the new buyer desire onsite EV charging.
Location
State CA
County Tulare
Interior
Heating Forced Air, Natural Gas
Cooling Central Air, Electric
Flooring Carpet, Linoleum, Vinyl
Laundry Electric Dryer Hookup, Inside, Laundry Closet, Washer Hookup
Exterior
Parking Features Detached
Garage Spaces 52.0
Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
View Y/N N
Roof Type Rolled/Hot Mop,Spanish Tile
Building
Lot Description Back Yard, Fencing
Foundation Raised, Wood
Sewer Public Sewer
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David Burchell
Team Leader & Realtor | License ID: #02033130
Team Leader & Realtor License ID: #02033130