3781 Line St Bishop, CA 93514-2166
- Apartment buildings
- 4,937 SF
- 1.81 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 3781 Line St
- Year built
- 1970
- Construction
- WOOD
- Lot size
- 1.81 lot acres
- Property size
- 4,937 SF
- Property type
- Apartment buildings
- APN
- 011-070-10-00
- APU
- 110701000
Description
This exceptional 9-unit multifamily property in Bishop, CA, presents a compelling investment opportunity. Situated on a sprawling 1.81-acre lot, the property boasts eight separate bungalow-style structures, offering a unique blend of charm and income potential. Recent capital improvements totaling $300,000-$400,000 encompass interior remodels, exterior paint, concrete walkways and driveways, a new sprinkler system, and updated copper water lines. The property features a 1,000 sq ft trout pond, mature trees, and multiple creeks, creating a picturesque setting. Four units are currently vacant, providing immediate upside potential. The property's 4,837 square feet of living space is complemented by a large 4-bedroom main house with a private garage. The property's location near Mammoth Lakes and the Eastern Sierra Nevadas ensures high demand and strong rental income, currently yielding a 6.02% cap rate and a $151,897 NOI. The property's land value is $32/sq ft. The asking price is $2,525,000, representing $280,555.56 per unit and $522.02 per square foot. The property was built in 1970 and underwent renovations in 2023. The potential for adding Accessory Dwelling Units (ADUs) on the vacant portion of the lot exists, subject to buyer due diligence. This turnkey investment offers immediate cash flow and significant long-term growth potential in a supply-constrained market. The property's address is 3781 W Line St, Bishop, CA 93514. APN: 011-070-10-00.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $2,440,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $2,530,000
- 6.5%
- $2,190,000
- 7%
- $2,520,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $2,670,000
- Geo Method
- $2,215,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $2,415,000
- Retail
- $2,120,000
- Mixed-Use
- $1,960,000
- Hospitality
- $2,520,000
- Educational
- $2,185,000
- Residential Income
- $2,290,000
- Energy
- $2,530,000
- Income-Based Land
- $2,065,000
- Food Service
- $2,515,000
Location Insight
- Map
- Local Demand
- City
- Bishop
- County
- Inyo
- State
- California
- Longitude
- -118.447
- Latitude
- 37.3619
- CBSA code
- 13860
- CBSA name
- BISHOP, CA MICROPOLITAN STATISTICAL AREA
