32989 Weatherly Ln North Fork, CA 93643
Property profile & analytics
32989 Weatherly Ln North Fork, CA 93643
- Quadplexes
- 3,428 SF
Property ID
US09-2656286
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Quadplexes
Property Details for 32989 Weatherly Ln
- Year built
- 1976
- Property size
- 3,428 SF
- Property type
- Quadplexes
- Property subtype
- Short term rental properties
Description
Fully Remodeled 100% occupied 4 Unit Multi-Family Apartment complex on ±0.11 Acres of land. Property consists of one single story building with (4) separately-metered units that totals ±3,428 SF. All (4) units have been fully remodeled, & include fenced patios and private entrances, separately metered for gas/electricity, and has access to on-site laundry. Unit #A of ±1,000 SF (2bed/1Bath) is currently used as an AirBnB with Payouts of Sept to Dec '22: $4,466.99 and 2023 YTD: $3,856 = $8,322.99. Unit #B of ±1,228 SF is a 3Bed/2Bath recently leased for 1-year (available 10/1), Unit #C of ±700 SF is a 1Bed/1Bath & Unit #D of ±500 SF is 1Bed/1Bath - both signed a 1-year lease. The units are spacious, there is on-site parking and exterior lighting throughout the complex. Low cost County sewer/water services in place. The property is within a few miles from restaurants, shops, & North Fork Willow Creek. The value-add opportunity consists of addressing the under-market rent Unit 1 by renting it to a long-term tenant or increasing the short term rental dates, and extending lease lengths over the next 6 months where increases are put into place. Value-add opportunity with actual rents of $62,322.99/year collected plus upside potential. After addressing the slightly under-market rents, the realistic stabilized gross annual income is $$81,000. Unique investment offering easy-to-rent small spaces within an under-built market offering a strong need for these type of units. Once stabilized, the deal offers a 9.48% CAP rate, and a 1.7% DCR and a 12.97 cash-on-cash return even at today’s rates!
Value Estimations
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- North Fork
- County
- Madera
- State
- California
- Longitude
- -119.5092802
- Latitude
- 37.2268005
