Porterville, Value-add Investor Or Owner-user Opportunity:

Value-add investor or owner-user opportunity: Freestanding building totaling ±4,674 SF office investment on ±0.50 Acres of General, Professional, and/or Medical space off Morton Ave in Porterville. The property offers (6) economical separate spaces with all units currently leased. Value-add opportunity with current rents of $45,600/year collected plus upside potential. After increasing rents and extending leases, the realistic 6-12 month stabilized gross annual income is $59,697.60 (31% upside). Unique investment offering easy-to-rent small office spaces within an under-built market offering a strong need for these type of spaces. Once stabilized, the deal offers a 3.09% cash-on-cash return when leveraged with 30% down, which produces a 1.17 Debt Coverage Ratio!