2980 Coloma Street, Placerville, CA 95667

Property Description

7.5% Cap rate on actuals! This is a very unique opportunity. This is not an apartment complex, although it is ran just like an apartment community. The Subject property consists of two separate buildings. 1) is a 6bedroom/3.5 Bath single family home that is on a master lease for $1500 a month. Rent could be more like $3,000! building #2) is a 31 bedroom, 6 bathroom structure that is rented by the room. Rents range from $500-$650 per bedroom. There is an on-site manager that does all of the management for the owner and is willing to stay. The building includes a back yard community garden area, a common area commercial sized shared kitchen with 16 refrigerators. There are vending machines, storage lockers and a laundry facility on-site. The building is very quiet and well kept. There is a walking path to Downtown Placerville which is only a stones throw away! This building is a cash cow and consistently remains occupied due to the affordability and location. Priced to sell!