15692 Armstrong Middletown, CA 95461
MULTI_FAMILY - Middletown, CA
Property Features for 15692 Armstrong
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Standard status
- Active
- APN
- 024452060000
Utilities
- Cooling system
- Window Unit(s), Wall/Window Unit(s), Electric
Building Details
- Year built
- 1979
Listing agent Lorrie McMurray License #01348596 (707) 355-1553
Listing office RE/MAX Gold Lake County 1675 S Main St., Lakeport, CA (707) 262-5700
Listing date Apr 28, 2026
Copyright © 2026 Lake County Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The property provides practical tenant amenities, including access to a fenced side and back yard and covered carport parking. Indoor laundry is also a benefit for residents, with laundry facilities included in each unit and multiple washers and dryers. The address is 15692 Armstrong in Middletown, with the remarks noting convenient proximity to shopping, the library, and the senior center in downtown Middletown.
For buyers and operators seeking a ready-to-run multi-family asset, the combination of four in-place, updated units and everyday resident conveniences such as covered parking, fenced outdoor access, and in-unit laundry can support straightforward leasing and tenant experience. The property’s consistent 2-bedroom, 1-bath layout across all units may also simplify operational planning.
Key Highlights
- Four fully rented 2 bed, 1 bath units in a fourplex in Middletown
- Built in 1979; each unit offers approximately 830 SF with a great room and kitchen
- Recent updates include new flooring, fresh interior and exterior paint, and remodeled kitchens with center islands and new appliances
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $42.6k | $12.84 |
| − Vacancy | −$2.0k | −$0.61 |
| EGI | $40.6k | $12.23 |
| − OpEx | −$12.2k | −$3.67 |
| NOI | $28.4k | $8.56 |