Great opportunity for investors! This quaint multi-family property is located minutes from Solvang’s downtown tourist district. This 2-story multi-family apartment building features mid-century modern flair, common area laundry room, and off-street parking. Unit mix includes (1) spacious 3-bedroom unit downstairs with back patio and yard, (1) large 2-bedroom unit with a fabulous covered patio overlooking the mountain range, (2) 1-bedroom units, and (1) studio*, offering a unit style for everyone. Updates within the last 5 years include new furnaces, new siding and paint, new dual pane windows, new roof and much more. New sewer mains and concrete driveway were installed in 2016. This is a “Walker’s Paradise” with a Walk Score of 90 due to its proximity to restaurants, shops, wine tastings, parks and more.
Don’t miss this very rare opportunity to acquire a well-maintained 10-unit apartment building located in the heart of the desirable City of Solvang. All the units are 1 bed and 1 bath with separate electric and gas meters, and the residents enjoy a private laundry room and off-street parking in the rear of the building. Upgrades within the last 5 years include laminate flooring in many of the units, new water heater, new dual pane windows and a complete replacement of the asphalt driveway and parking lot. The units are close to all that downtown Solvang has to offer, including restaurants, galleries, shops, and more. With over 40% upside in rents, this property offers the prudent investor lots of upside opportunity.
Solvang is located in California. Solvang, California has a population of 6,032. Solvang is less family-centric than the surrounding county with 18.46% of the households containing married families with children. The county average for households married with children is 31.69%.
The median household income in Solvang, California is $94,451. The median household income for the surrounding county is $84,356 compared to the national median of $69,021. The median age of people living in Solvang is 51 years.
The average high temperature in July is 82.9 degrees, with an average low temperature in January of 39.1 degrees. The average rainfall is approximately 19.3 inches per year, with 0 inches of snow per year.
