15 Royale Avenue

Lakeport, CA 95453

$1,275,000
Price
5
Beds
12
Baths
10,144 Sq. Ft.
$126 / Sq. Ft.
10,144
Sq. Ft.
$126
per Sq. Ft.

Description

Lakeport Royale Apartments – 15 Royale Ave., Lakeport, Lake County. Seize this lucrative investment opportunity with a 12-unit apartment building in Lakeport. Featuring a mix of 11 desirable 2 bedroom/1 bath and 1 larger 3-bedroom 1 bath units. The building maintains an impressive 90% occupancy rate, with only one unit currently available for showing. Enjoy the convenience of nearby amenities, including grocery stores, shops, restaurants, public transportation, and the stunning Clear Lake within...Lakeport Royale Apartments – 15 Royale Ave., Lakeport, Lake County. Seize this lucrative investment opportunity with a 12-unit apartment building in Lakeport. Featuring a mix of 11 desirable 2 bedroom/1 bath and 1 larger 3-bedroom 1 bath units. The building maintains an impressive 90% occupancy rate, with only one unit currently available for showing. Enjoy the convenience of nearby amenities, including grocery stores, shops, restaurants, public transportation, and the stunning Clear Lake within walking distance. Lakeport has witnessed a robust rental market, allowing low vacancies and steady rental demand in recent years. Don't miss out on adding this high-performing asset to your portfolio. Detailed rent roll, income, and expense information are readily available for your review. Make time now to explore this promising Lake County investment opportunity.
  1. Listed by James Magliulo • DRE #01852966 • Brokerage DRE #01521602 • Country Air Properties • 707-263-5729

Property Details for 15 Royale Avenue

Parking Spaces Total
0
Private Pool
No
Cooling Type
Central Forced Air
Total Units
12.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
10144
Assessor Parcel Number
025611370000
LISTING UPDATED: 12/17/2024 07:41 AM

Property Details for 15 Royale Avenue

StatusActive
MLS #LC24210045
Days on Compass73
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1972
CountyLake County

Building Information for 15 Royale Avenue

Building/Complex15 Royale AveFloor-Stories2Residences-Pet Policy-Year Built1972Building Size-

Property Information for 15 Royale Avenue

Income / Expense / Tax Details
Income Details
  • Gross Income: $0
  • Gross Scheduled Income: $143,100
  • Vacancy Allowance Rate: 5
  • Net Operating Income: $74,950
  • Number Of Rented Garages: 0
  • Cap Rate: 5.5
Expense Details
  • Operating Expense: $68,149
  • Fuel Expense: $0
  • Electric Expense: $0
  • Insurance Expense: $9,500
  • Professional Management Expense: $12,000
  • Trash Expense: $220
  • Water Sewer Expense: $1,000
  • Total Expenses: $22,720
Tax / Assessment Info
  • Tax Census Tract: 4.02
  • CFD/Mello-Roos Fee: $0
  • Tax Lot: 9,10
Community / Development
Community / Development
  • Assessments YN: No
  • Assessments: None
  • Community Features: Biking, Dog Park, Fishing, Foothills, Golf, Hiking, Lake, Park, Watersports
Property / Structure Info
Interior Features
  • Appliances: Electric Oven, Electric Range, Refrigerator
  • Equipment: None, Refrigerator
Exterior Features
  • Roof: Composition
  • Entry Location: 1
  • Property Condition: Varies by Unit
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: 0-1 Unit/Acre, Level, Near Public Transit
  • Number Of Units: 12
  • Land Lease: No
  • Land Lease Type: Fee
  • Road Surface Type: Paved
  • Road Frontage Type: City Street
  • Water: Public
  • Sewer: Public Sewer
  • Sewer/Septic: Sewer Public
  • Utilities: Electricity Connected, Water Connected
  • Electric: Electricity Connected, Water Connected
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking: Yes
  • Parking Garage: Uncovered
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
  • Parking Features: Asphalt, On Site, Uncovered
Unit Information
Unit 1
  • Unit Type Units Total: 11
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,000
  • Unit Type Total Rent: $1,000
  • Unit Type Pro Forma: 1000
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,250
  • Unit Type Total Rent: $1,250
  • Unit Type Pro Forma: 1250
  • Unit Type Type: 2
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 12
  • Number Of Separate Gas Meters: 0
  • Number Of Separate Water Meters: 12

Property History for 15 Royale Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 15 Royale Avenue

Taxable ValueLand$211,268Additions$633,818Total$845,086
Tax Record2024$10,808 ($901 / month)
Home Facts
Total Finished SqFt10,144 SqFtAbove Grade Finished SqFt10,144 SqFtStories2Lot Size20,473 SqFtStyleTriplexYear Built1972CountyLAKEAPN025-611-370-000Fireplace TypeHas Fireplace

Schools near 15 Royale Avenue

This home is within Lakeport Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 3
Public - 4 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Lakeport Elementary School
PublicK to 3

Terrace School
Public4 to 8

Clear Lake High School
Public9 to 12

Natural High (Continuation) School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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15 Royale Avenue is a multi-family home for sale in Lakeport, CA 95453. This property was listed for sale on October 7, 2024 by Country Air Properties, it's currently listed at $1,275,000. It has been on the market for a total of 73 days and was last sold on December 18, 2012. This listing's school district is Lakeport Unified School District. Nearby schools include Lakeport Elementary School, Terrace School and Clear Lake High School. 15 Royale Avenue is a 5-bed, 12-bath, 10,144 sqft multi-family home built in 1972.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Country Air Properties, James Magliulo, DRE #01852966

Based on information from one of the following Multiple Listing Services: San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.