Remarks

Villa Monte Vista was built in 1986 as Visalia's first luxury, gated apartment community. The quality of construction and amenities set the complex apart from anything else that existed in Visalia. Today it is still considered to be one of the most desirable locations and lifestyle in Visalia. In the pictures you will see some of the original marketing materials including floor plans. The 52 units are divided into 36-2/2 units, 8-3/2 & 8-1/1 units.

The original description holds true today. ''Spacious contemporary floorplans, custom home finishing touches, carefully crafted details-could we be describing a rental home? Now for the first time the people of Visalia have a rental residence option that is truly luxurious. The elegant Spanish style villas surround spacious landscaped courtyards and feature a swimming pool and heated spa for your relaxation.'' Benart Development originally built the units with the future of Condo Conversion in mind.

Each unit has a designated single car garage on site. There are 37 additional uncovered parking sites. Mature landscape provides for a warm and secluded environment. The gated entry secures the community from drive through traffic and protects personal property on site. Floor Plans in photos. Each unit is furnished with refrigerator, washer and dryer and features fireplaces, tray ceilings and other fine architectural treatments.

Detailed financial information is available to potential buyers who submit a LOI showing the ability to purchase. DSCR @1.25% for 6.5% Loan 30 Year/ADP 5 is $5,156,401. Loan coverage based on 2025 estimated cash flow. Price per SF is $217,000; Doller per Door is $221,000; GRM is 13.5X; CAP is 4.29 based on 2025 reconstructed expense average of last 5 years and scheduled rents.

A lease for EV charging stations is on the table should the new buyer desire onsite EV charging.

Details

MLS#: 233162
Price: $11,500,000

Style: Commercial
Sq Ft: 52976
Year Built: 1986

County: Tulare
Lot Size: 247 x 596