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Listed by Steve Belluomini • Corcoran Icon Properties • 650-578-0200
$ 1,300,000
Est. payment | /mo
8,096 SqFt
$ 1,300,000
Est. payment | /mo
8,096 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 8,096 sqft
Price per Sqft $160
MLS Listing ID ML82061558
HOA Y/N No
Year Built 1953
Lot Size 1.230 Acres
Property Sub-Type Other
Source Datashare MLSListings
Property Description
Attractive 15-unit multifamily investment opportunity located at 3871-3901 Country Club Dr in Clearlake, CA, situated on an expansive 1.23-acre site across three separate parcels. The property consists of three buildings with a diverse unit mix offering broad tenant appeal and operational flexibility, plus one vacant lot. Recent capital improvements include new electrical panels throughout the property and replacement of all AC units within the past 10 years. Several units have been renovated, while the majority remain in well-maintained original condition, providing an opportunity for a new owner to pursue a targeted value-add strategy through interior upgrades. Additional upside may be available through operating efficiencies and potential utility cost recovery. Ownership can evaluate implementation of a RUBS program for water, sewer, and garbage, subject to applicable laws and regulations. With substantial land, existing cash flow, recent capital improvements, and multiple avenues for increasing income, this asset presents an opportunity to acquire an established multifamily property with long-term value-add potential. Parcels: 037-303-240-000 (3871 Country Club Dr), 037-303-360-000 (3891 Country Club Dr), 037-303-350-000 (3890 Country Club Dr).
Location
State CA
County Lake
Interior
Heating Other
Cooling Other
Fireplace No
Building
Water Public
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Adam Shoop
Broker Associate at LPT Realty Lic# 1782227