Map of Property

1001 & 1021 E Cypress Ave

For Sale

1001-1021 E Cypress Ave, Lompoc, CA 93436

This Lompoc property for sale is located at 1001-1021 E Cypress Ave. The current listed sale price for 1001 & 1021 E Cypress Ave is $10,445,000. 1001 & 1021 E Cypress Ave is situated on a lot that is 82,764 square feet in size.

Contacts

broker

Christos Celmayster

Hayes Commercial Group

Property Details

  • Property Type Multi-Family
  • Property Size 52,608 SF
  • Units 60
  • Lot Size 82,764 SF
  • Additional Rent Contact for pricing
  • Parking Spaces Avail. 79
  • Parking Ratio 1.50 / 1,000 SF
  • Date Updated Jun 28, 2024

60 UNITS IN TWO MULTIFAMILY BUILDINGS. Great unit mix of 40 x 2BD/1BA and 20 x 1BD/1BA. Garden-Style buildings with interior courtyards. Excellent on-site parking. Year Built: 1984 & 1963.

5.06% Current Cap Rate 5.73% AB 1482 Cap Rate 7.60% Market Cap Rate. 

Hayes Commercial Group is pleased to present a unique opportunity to acquire 60 units in two contiguous multifamily properties located at 1001 E Cypress Avenue (“Bahia La Paz”) and 1021 E Cypress Avenue (“Kimi East”) situated on the Central Coast in the City of Lompoc. Both buildings are garden-style courtyard communities that provide an excellent unit mix of 40 x 2BD/1BA units and 20 x 1BD/1BA units, excellent onsite parking, onsite laundry facilities, functional unit layouts, and an ideal location in the Lompoc Valley. 

Bahia La Paz is 24-unit Mission-style, red tiled roof building constructed in 1984 consisting of sixteen 2BD/1BA townhome units (with fireplaces) and 8 X 1BD/1BA flats. Tenants enjoy either private patios or balconies, a common courtyard with two community BBQs, an onsite laundry facility, and on-site parking consisting of 26 carport spaces and 17 uncovered spaces. All tenants are on a month-to-month lease with current rents that are approximately 25% below market.  

Kimi East Apartments is a 36-unit Mid-Century building constructed in 1963 and comprised of 24 X 2BD/1BA units and 12 X 1BD/1BA (all flat units). Tenants enjoy a common courtyard with three community BBQs, two on-site laundry rooms and 36 carport spaces with tenant storage closets. All tenants are on a month-to-month lease with current rents that are approximately 35% below market. Ownership has recently replaced all railings at the property to meet today’s code.

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Getting around

  • 74/100

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  • 73/100

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Location

  • City Lompoc, CA
  • Neighborhood Lompoc
  • Zip Code 93436
  • Market Central Coast

Points of Interest

  • Circle K

    0.34 miles

  • Vons Gas Station

    0.95 miles

  • Valero

    1.24 miles

  • Speedway

    1.28 miles

  • Kwik Serv

    1.29 miles

  • VP Racing Fuels

    4.45 miles

  • Tesla Supercharger

    4.54 miles

  • La Purisima Mission Parking Place

    2.68 miles

  • Visitor Parking

    8.94 miles

  • Red Roof Inn Lompoc

    0.07 miles

  • Alano Club

    0.41 miles

  • Days Inn

    1.42 miles

  • Embassy Suites by Hilton Lompoc Central Coast

    1.45 miles

  • Hilton Garden Inn Lompoc

    1.56 miles

  • Holiday Inn Express

    1.86 miles

  • Motel 6

    1.90 miles

  • Comfort Inn & Suites

    1.96 miles

  • White Oaks

    4.41 miles

  • Grocery Outlet

    0.47 miles

  • Vons

    1.11 miles

  • Ross

    1.73 miles

  • Albertsons

    1.80 miles

  • Walmart Supercenter

    2.05 miles

  • Village Market

    4.52 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker

broker

Christos Celmayster

Hayes Commercial Group