1597 Bruce DrAnderson, CA 96007

Anderson Park Village, located at 1597 Bruce Dr, Anderson, CA 96007, presents a compelling investment opportunity. This multifamily property consists of ten 2-story buildings situated on a 2.5-acre lot. The complex comprises 40 units: nine one-bedroom/one-bathroom, twenty-four two-bedroom/one-bathroom, and six three-bedroom/one-bathroom units. A manager's unit, featuring three bedrooms, one bathroom, and a separate office, is also included. Amenities include on-site laundry facilities and a seasonally operated pool. The property boasts 100% occupancy as of August 1, 2024, generating a current Net Operating Income (NOI) of $248,030, with a current cap rate of 6.20%. Pro-forma NOI is projected at $309,828, resulting in a pro-forma cap rate of 7.75%. The property is currently under trust ownership and is offered as a 1031 exchange opportunity. Built in 1964, the complex benefits from owner-owned solar power feeding the manager's unit and laundry facilities. The current gross monthly income is $35,660, translating to an annual gross income of $427,920. This well-maintained property offers significant potential for future growth and strong cash flow. The asking price is $4,000,000.