CA > El Dorado Hills
El Dorado Hills, CA 95762,323 Kipps LN
El Dorado Hills, CA 95762,323 Kipps LN
El Dorado Hills, CA 95762,323 Kipps LN
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Lenora Harrison

Lenora Harrison

+1(916) 765-4188
$1,825,000
Est. payment /mo
5,124 SqFt
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UPDATED:

Key Details

Property Type Multi-Family

Sub Type 5 or More Units

Listing Status Pending

Purchase Type For Sale

Square Footage 5,124 sqft

Price per Sqft $356

MLS Listing ID 225032073

HOA Y/N No

Originating Board MLS Metrolist

Year Built 1978

Lot Size 0.780 Acres

Acres 0.78

Property Sub-Type 5 or More Units

Property 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.

Location

State CA

County El Dorado

Area 12602

Direction Located behind the Purple Place on Green Valley Road.

Interior

Heating Central

Cooling Central

Flooring Laminate, Vinyl, Wood

Appliance Dishwasher, Disposal, Electric Cook Top

Laundry In Each Unit

Exterior

Exterior Feature Fenced Yard

Parking Features Open, Garage

Garage Spaces 6.0

Utilities Available Electric

Water Access Desc Public

View Hills

Roof Type Shingle

Total Parking Spaces 16

Building

Lot Description Private, Secluded, Cul-De-Sac

Story 1

Foundation Concrete

Sewer Public Sewer

Water Public

Architectural Style Ranch, Cottage

Level or Stories One

Schools

Elementary Schools Gold Oak Union

Middle Schools Gold Oak Union

High Schools Black Oak Mine

School District El Dorado

Others

Senior Community No

Tax ID 124-301-017-000

Special Listing Condition None

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MetroList® Services, Inc
Listed by Ken Turton, Broker

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agent

Lenora Harrison

+1(916) 765-4188

Agent | License ID: 01229917

Agent License ID: 01229917

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323 Kipps LN

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