654 Lucille Ave Coalinga, CA 93210-2534
Property Lookup
Property profile & analytics
654 Lucille Ave Coalinga, CA 93210-2534
- Apartment buildings
- 30,208 SF
- 1.28 lot acres
Property ID
US09-1422558
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
- Elmtree Estates Rentals in Coalinga / Real Estate Agency
Property Details for 654 Lucille Ave
- Year built
- 1985
- Construction
- WOOD
- Lot size
- 1.28 lot acres
- Property size
- 30,208 SF
- Zone code
- R3TWR
- Property type
- Apartment buildings
- APN
- 083-240-46S
- APU
- 08324046S
Description
This exceptional investment opportunity presents a 32-unit apartment building in Coalinga, CA, boasting a 7.66% cap rate and 100% occupancy. The property, known as Elm Tree Estates, comprises four, two-story buildings totaling 34,000 square feet on a 1.28-acre lot. Built in 1985 and extensively renovated in 2023, the complex features a new roof, gutters, boiler, and HVAC systems, representing a $407,000 investment in upgrades. Exterior paint is also new, and new landscaping is underway. Each of the 32 units includes refrigerators, ovens/stoves, garbage disposals, and ceiling fans. Bathrooms and kitchens have vinyl or ceramic tile flooring, while living areas feature wall-to-wall carpeting. Community amenities include a large BBQ area with shade and seating, a playground, and a common laundry room equipped with three new washers and dryers. The property benefits from its location off Elm Avenue, approximately four miles from a state prison and state hospital, in a town with a 0% vacancy rate and growing waiting lists. The R-3TWR zoning allows for multifamily use. The asking price is $3,911,677, or $122,239.91 per unit. The property's substantial recent renovations, high occupancy rate, and strong rental income make it an attractive investment. All units are currently under RUBS (Rent Utility Billing System) with no pushback from tenants. The owner has successfully increased rents by 9% annually. The property offers unobstructed hill views on three sides, with single-family homes to the north. The wood-frame buildings have wood siding exteriors and a gabled composition asphalt shingle roof.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $2,775,000
- ML approach
- $2,740,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $3,186,000
- AI Estimate
- $2,873,000
Market price range: $2.53M - $3.59MMarket price range: $1.84M - $3.74M -
Alternative Use
- Use
- Estimation
- APARTMENT HOUSE (5+ UNITS)
- $3,110,000 Current use
- AUTO REPAIR, GARAGE
- $4,435,000 Change: +43% Conversion: Difficult
- RETAIL STORES
- $3,250,000 Change: +5% Conversion: Difficult
- INDUSTRIAL (GENERAL)
- $3,220,000 Change: +3% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Coalinga
- County
- Fresno
- State
- California
- Longitude
- -120.372
- Latitude
- 36.1296
- CBSA code
- 23420
- CBSA name
- FRESNO, CA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$31,560
$315,353
$2,206,106
$2,521,459
-
$0.00
$0.00
$0.00
