Description

We are offering 1178 Beverly Dr in Lemoore, California, for sale at $1,300,000, or about $243.54 per square foot. The property is a 5,338-square-foot single-story six-unit apartment building built in 1976 on approximately 0.253 acres. The site is zoned RMD - Medium Density Residential.

All six units were fully remodeled in 2023. Each is a two-bedroom, one-bath of about 889 square feet with a fenced rear patio and private entrance. Units are separately metered for gas and electricity, and tenants pay their own utilities and hot water. The property has on-site parking and laundry. The current cap rate is 4.59%, with a 6.33% pro forma cap rate on $59,616 of net operating income. Nearby comparable units rent for $1,550 to $1,650 a month. Leases were initially one-year terms.

The building is at the southeast corner of Beverly Drive and Burlwood Lane, north of Hanford Armona Road, in a quiet residential area. Schools are within a few miles, and Highways 198 and 41 are close by. Lemoore is in Kings County, part of the Hanford-Corcoran metropolitan area. Nearby shopping includes Save Mart, Dollar Tree, Walgreens and Dutch Bros.

Jared Ennis and Kevin Land of Central CA Commercial represent this offering on behalf of ownership. We are glad to share the full offering memorandum and the rent roll, along with additional photos and property details, and to answer questions about the property and the surrounding area. Contact us to discuss the opportunity or to schedule a tour.