$850k 10 unit on water with CAP over 9%

AggieDruggist89

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2:01p, 12/7/21

AG

but the water smells in the summer due to algae...

And it's 100% rented albeit month to month.

What do you think?

MAS444

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In reply to AggieDruggist89 • 3:41p, 12/7/21

AG

Buying or selling?

AggieDruggist89

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4:12p, 12/7/21

AG

buying

12thMan9

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6:21p, 12/7/21

AG

Where? What are comps? How much rehab is needed? Projected cash flow?

Ronnie '88

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rhtexfish

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In reply to AggieDruggist89 • 9:35p, 12/7/21

AG

AggieDruggist89 said:
but the water smells in the summer due to algae...

And it's 100% rented albeit month to month.

What do you think?

Not killer algae is it?

AggieDruggist89

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In reply to 12thMan9 • 11:56a, 12/8/21

AG

12thMan9 said:
Where? What are comps? How much rehab is needed? Projected cash flow?

In CA. Built in 1950s. I'm going to drive by this weekend.

AggieDruggist89

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In reply to rhtexfish • 11:56a, 12/8/21

AG

rhtexfish said:
AggieDruggist89 said:
but the water smells in the summer due to algae...

And it's 100% rented albeit month to month.

What do you think?

Not killer algae is it?

I don't know... May have killed some fish

Ragoo

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6:38p, 12/8/21

AG

How big is the water? Can you install a fountain or something else to keep the water moving?

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AggieDruggist89

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In reply to Ragoo • 7:13p, 12/8/21

AG

Probably not.

http://www.loopnet.com/Listing/24325254

Looks like a major issue with the lake.

I'm going to stay clear.

https://www.hcn.org/articles/south-water-the-toxic-soupy-biomass-choking-water-systems-in-california

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Ragoo

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7:37p, 12/8/21

AG

Damn. Looks like a Great Lake if they had enough water.

AggieDruggist89

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7:46p, 12/8/21

AG

It's a beautiful lake.

Two major issues are the fire risk and the dying lake. If it wasn't for the decaying water chemistry, that property is a few million $. Also, I'm not sure you can get fire insurance in that area.

NoahAg

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In reply to AggieDruggist89 • 2:53p, 12/14/21

AggieDruggist89 said:
It's a beautiful lake.

Two major issues are the fire risk and the dying lake. If it wasn't for the decaying water chemistry, that property is a few million $. Also, I'm not sure you can get fire insurance in that area.

Dang, a flammable lake at that!

Let's go, Brandon!

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