3885 alvita Avenue

10.83% Cap rate - 7 unit Multi Family Investment Opportunity. A total of 5 structures and 7 units at approximately 4,250 SF and sits on approximately a half acre of land, in an Opportunity Zone! This one of a kind Multi-Family property is walking distance to downtown shops and restaurants. Features the following: 7 Live-in units (1) studio, (4) 2bedroom/1 bath and (2) 1 bedroom/1bath units, Laundry room - with approximately $100 a month in income from laundry machines (not included in the cap rate), 3 storage areas, ample parking and lake access. Note: Zoning code - Commercial downtown(Up to 12 units on this half acre parcel) 25 units per acre, but not including other hotel / motel units. Call planning 707-994-8201 General plan - plans off lake shore to update downtown:https://clearlake.ca.us/314/General-Plan Live work, retail, high density residential, mixed use (max height 35 feet under zoning code, but can go up to 65 feet in certain areas, depending on set back requirements, private space, parking, landscape etc.)