Description
323 kipps lane is a 6-unit multifamily asset in the foothills of el dorado hills. situated right off green valley road and a stone's throw from folsom lake, the property features an approximate 33,977 square foot parcel of land with six total units spread across three separate duplexes. all units underwent extensive renovations in 2014, and five of the six units are currently leased at below-market rents. all units are 2-bedroom and 1-bathroom layouts with lvp floors, updated finishes and appliances, a garage, washer/dryer, and fenced yard space. once the remaining vacancy is leased at $2,250 per month, the gross annual income will be $138,000. estimated annual expenses total $46,000, equating to a net operating income of $92,000 which is 5.00% capitalization rate. once the other five units are leased at market rents, the as-is capitalization rate increases to 6%+. the property is largely surrounded by the browns ravine recreation area thereby ensuring that the immediate area will not be developed with more housing or commercial buildings. rental housing is only 7% of the total housing supply in ehd thereby ensuring strong tenant demand for the foreseeable future.
Property Type
ResidentialIncomeCounty
El DoradoStyle
ResidentialIncomeAD ID
48988370
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BuyOwner last updated this listing 04/04/2025 @ 00:11
- MLS: 225032073
- LISTING PROVIDED COURTESY OF: ,
- SOURCE: MLS Metrolist
is a Home, with bedrooms which is for sale, it has 5,124 sqft, 5,124 sized lot, and 0 parking. are nearby neighborhoods.