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For Sale

$1,205,000

169 Lupin Street
Mammoth Lakes, CA 93546

Bed 8 br
Bathroom 5 ba
Sqft 3,315 sqft
Highly sought after and well maintained Residential Income Opportunity! Four units with 6 garages(1 garage for each unit and 2 tandem garages currently rented separately). Three 2 Bed/1 Bath units, One 2 Bed/2 Bath unit. Each unit has its own private laundry, woodstove and forced air heating. Exterior was painted in the summer of 2020, new metal roof installed 2018 and all tenants have paid rents in full, even during Covid 19. The owners of this fourplex have maintained this property to a strict maintenance schedule with $69,187 in capital improvements the past 3 years alone; includes replacement of the roof, new appliances, new woodstoves, exterior painting, replacement of stairs, and much more. The great condition of this property is what separates it from most other income properties in Mammoth Lakes. Rents have been kept below market during Covid-19 in an effort to ensure timely rent payments; all tenants have stayed current during the pandemic. Market rents are higher than actual rents and can be increase as each short term lease expires. Rents are renewable under State AB-1482 can meet current market rents within 2 years. (assumes 5% increases under the law with only a 1% CPI increase). In addition to this subject property being offered for sale, the owner also has 168 Mono Street (nearly identical project) being sold for the same price. 168 Mono is contiguous to 169 Lupin Street and would be a great opportunity to take advantage of economies of scale. The owner is also selling 363 Manzanita (5 units). Owner prefers to sell all three properties to one buyer, but negotiable. Net income provided herein reflects current taxes and doesn't incorporate Capital Improvements over the past 3 years. Actual Expenses in 2020 were $30,451. Gross Annual Market Rents are estimated to be $93,600. Call for detailed Offering Package. Read More

Market Status
Available
Last Updated
May 11, 2021

Property Type
Multi Family
Year Built
1990
Bedrooms
8 BR
Baths
5 full BA
Dishwasher
-
Disposal
-
Microwave
-
Refrigerator
-
Heating System
Fireplace; Forced Air
Roof
Metal
Exterior Construction
Metal
Garage
Attached
Parking
4 spaces
Fireplace
-
Property Type
MultiFamily; Quadruplex
Additional Areas
Bedroom; Bedroom; Bedroom; Bedroom; Bedroom; Bedroom; Bedroom; Bedroom; Full Bath; Full Bath; Full Bath; Full Bath; Full Bath; Patio

Local Market Conditions

There are currently 14 properties for sale in the Mammoth Lakes, CA area with the average listing price of $804,886. This represents a decrease of -6.6% over the previous week. The 2 bedroom homes saw the largest decrease in the average listing price over the previous week with a -0.6% decrease. To learn more about the Mammoth Lakes, CA area, contact a local expert!

Market Snapshot for Mammoth Lakes, CA

Avg. Listing Price

$804,886

Wk ending May 8

$-56,569

-6.6%

w-o-w

14

108

36

16

12

4

Average Listing Price for Mammoth Lakes, CA
No. BedroomsNo. Beds Week Ending
(May 8)
w-o-w Week Ending
(May 1)
Week Ending
(Apr 24)
Week Ending
(Apr 17)
All PropertiesAll $804,886 -6.6% $861,455 $861,455 $897,667
1 bedroom1 BR $525,000 +0.0% $525,000 $525,000 $525,000
2 bedrooms2 BR $673,780 -0.6% $678,000 $678,000 $678,000
3 bedrooms3 BR $782,333 +0.0% - - -
4 bedrooms4 BR $981,250 +0.6% $975,667 $975,667 $1,000,500

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This $1,205,000 Multi Family at 169 Lupin Street in Mammoth Lakes, CA is presented by Cynthia Fleming and has been on the market for 60 days. This $1,205,000 Multi Family, located in the 93546 zip code, has the following property features: Dishwasher, Parking, Garage, Exterior Construction. This 169 Lupin Street Multi Family, located in Mono County , is listed under MLS listing number 210224, has 8 beds, 5 baths, and has a listing price of $1,205,000. You can find more Mammoth Lakes homes for sale here.

Data Provided by Mammoth Lakes Board of Realtors, Inc

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