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For Sale

$1,302,000

363 Manzanita
Mammoth Lakes, CA 93546

Bed 10 br
Bathroom 5 ba
Sqft 4,464 sqft
Highly sought after and well maintained Residential Income Opportunity! Five units with 2 garages. There are five, 2 Bed/1 Bath units with common laundry. Rent for Unit #5 includes the use of one garage. All tenants have paid rents in full, even during Covid 19. The owners of this five unit project have maintained this property to a strict maintenance schedule with $32,422 in capital improvements over past 3 years; The great condition of this property is what separates it from most other income properties in Mammoth Lakes. Remodeled right before owner's purchase, nice kitchens, new roof June 2012-inspected every summer, exterior paint 2019, Rents have been kept below market during Covid-19 ensuring timely rent payments. freestanding woodstoves and wall heaters. 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. Most rents renewable 10/31/21. In addition to this property being offered for sale, the owner also has two fourplex units at 168 Mono Street and 169 Lupin street available for purchase. Great opportunity to take advantage of economies of scale. Owner prefers to sell all three properties to one buyer, but they are negotiable. Net income provided herein reflects current taxes and doesn't incorporate Capital Improvements over the past 3 years. Actual Expenses in 2020 were $32,595. Gross Annual Rents for 2021 are estimated to be $94,692 based on current rents. Expenses include 11% of gross for professional management costs, self-managing could increase Net Income substantially. Read More

Market Status
Available
Last Updated
May 11, 2021

Property Type
Multi Family
Year Built
1975
Bedrooms
10 BR
Baths
5 full BA
Dishwasher
-
Disposal
-
Microwave
-
Oven
-
Heating System
Fireplace
Heating Fuel
Electric
Exterior Construction
Wood Siding
Garage
Attached
Parking
2 spaces
Fireplace
-
Property Type
MultiFamily; Four Plus
Additional Areas
Bedroom; Bedroom; 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

104

40

20

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 $1,302,000 Multi Family at 363 Manzanita in Mammoth Lakes, CA is presented by Cynthia Fleming and has been on the market for 56 days. This $1,302,000 Multi Family, located in the 93546 zip code, has the following property features: Exterior Construction, Heating System, Disposal, Microwave. This 363 Manzanita Multi Family, located in Mono County , is listed under MLS listing number 210225, has 10 beds, 5 baths, and has a listing price of $1,302,000. You can find more Mammoth Lakes homes for sale here.

Data Provided by Mammoth Lakes Board of Realtors, Inc

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