1557-1597 Bruce Drive, Anderson, CA 96007

Property Description

40 Unit apartment complex for sale in Anderson CA. 10 structures on two parcels housing 9 - one bedroom one bath, 24 - two bedroom one bath, 6 - three bedroom one bath and a 3 bedroom one bath managers unit with separate office. On site laundry. Seasonally operated pool. Owner owned solar feeding mangers unit and laundry. 100% occupied with current gross monthly income of $35,660 ($427,920 yr), Approx. annual expenses of $179,000 presents a cap rate of 6.20%. Currently 60% of rents are below market rate. Once to market rental rate, gross income would exceed $500,000 yr. Some of the interiors have been remodeled and capital improvement on carports recently started. Great location across from public ball field/park, close to shopping and public transportation.