1055 Morton Ave Porterville, CA 93257

This exceptional value-add opportunity presents a ±4,674 square foot, two-story office building situated on a half-acre lot in Porterville, California. The property, identified by APN 251-340-053, is zoned PO-Professional Office and features six individual units, currently 100% occupied, generating a current annual income of $45,600. Each unit, ranging from 322 to 1,100 square feet, boasts private restrooms, entrances, and high-speed internet access. Demising walls allow for flexible configurations to accommodate larger tenants. The building itself is well-maintained, featuring fresh paint, newer flooring, and separate HVAC systems and meters. The asking price is $695,000, representing a price per square foot of $148.69 and a pro-forma NOI of $56,266, yielding an 8.10% pro-forma cap rate. Significant upside potential exists through rent increases and lease extensions, projecting a stabilized annual income of $59,697.60 within 6-12 months. This translates to a 3.09% cash-on-cash return when leveraged with 30% down, resulting in a 1.17 debt coverage ratio. The property benefits from ample parking, mature landscaping, and excellent visibility. This investment is ideal for an owner-user seeking passive income or a value-add investor targeting a strong, under-built market with high demand for smaller office spaces. The property is an excellent candidate for an SBA loan.