28241 Silverado Canyon Road, Silverado, California 92676, Silverado, 92676 - bed, bath
ACTIVE$1,595,000
28241 Silverado Canyon Road, Silverado, California 92676
0Bed
0Bath
4,621Sqft
16,988Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
High Unit Count & Income Potential: The property features 10 rental units (2 studios, 8 1-bed/1-bath), offering substantial diversified income potential for an investor.
Top Cons:
Age of Property & Potential Maintenance: Built in 1947, the property is over 75 years old, suggesting potential for outdated systems (plumbing, electrical) and a higher likelihood of deferred maintenance or significant capital expenditures in the near future.
Compared to the nearby listings
Compared against 0 nearby listings
More Insights
Built in 1947 (78 years old).
Condition: Built in 1947, this property's exterior shows significant age with worn shingle siding, old awnings, and a cracked asphalt parking area, indicating a lack of major renovations for several decades. While described as 'well-maintained' and actively rented, the absence of interior photos, particularly of kitchens and bathrooms, strongly suggests these areas are severely outdated and likely require substantial rehabilitation, including potential major system replacements (plumbing, electrical, HVAC). The overall condition points to a need for significant investment beyond minor updates to meet modern standards, aligning with the 'Poor' category.
Year Built
1947
Close
-
List price
$1.59M
Original List price
$2M
Price/Sqft
$345
HOA
-
Days on market
-
Sold On
-
MLS number
NP25130002
Home ConditionPoor
Features
Good View:
View-
About this home
10 units, onsite manager, landlord pays all utilities, rent is MTM, 2 studios and 8 1 bed 1 bth, Welcome to this rare offering in scenic Silverado Canyon – a community of 10 charming cottage-style rental units located at 28241 Silverado Canyon Road. These well-maintained homes are offered on a month-to-month basis, providing both flexibility and comfort for residents. Each cottage features its own unique character, nestled in a tranquil, natural setting. The landlord covers all utilities, including water, electricity, gas, and trash service – making budgeting simple and hassle-free. The property is professionally overseen by an on-site manager, ensuring prompt attention to maintenance needs and community upkeep. Ideal for those seeking a peaceful lifestyle close to nature, yet with convenient access to nearby amenities.
Condition Rating
Poor
Built in 1947, this property's exterior shows significant age with worn shingle siding, old awnings, and a cracked asphalt parking area, indicating a lack of major renovations for several decades. While described as 'well-maintained' and actively rented, the absence of interior photos, particularly of kitchens and bathrooms, strongly suggests these areas are severely outdated and likely require substantial rehabilitation, including potential major system replacements (plumbing, electrical, HVAC). The overall condition points to a need for significant investment beyond minor updates to meet modern standards, aligning with the 'Poor' category.
Pros & Cons
Pros
High Unit Count & Income Potential: The property features 10 rental units (2 studios, 8 1-bed/1-bath), offering substantial diversified income potential for an investor.
Professional On-Site Management: The presence of an on-site manager ensures efficient property upkeep, tenant relations, and prompt attention to maintenance needs, enhancing operational stability.
Flexible Month-to-Month Leases: All units are on month-to-month leases, providing the new owner with significant flexibility to adjust rents, implement renovations, or re-tenant as market conditions evolve.
Significant Price Reduction: The list price has seen a substantial reduction from $1.995M to $1.595M, indicating a motivated seller and a potential value-add opportunity for a savvy buyer.
All-Inclusive Utilities for Tenants: The landlord covering all utilities (water, electricity, gas, trash) is a strong draw for tenants, simplifying their budgeting and potentially leading to higher occupancy rates and tenant retention.
Cons
Age of Property & Potential Maintenance: Built in 1947, the property is over 75 years old, suggesting potential for outdated systems (plumbing, electrical) and a higher likelihood of deferred maintenance or significant capital expenditures in the near future.
Landlord Bears All Utility Costs: While attractive to tenants, the landlord paying all utilities represents a significant ongoing operational expense and financial risk, as utility costs can fluctuate and directly impact net operating income.
Discrepancy in Unit Count/Sub-Type: The property description states '10 units' but the sub-type is listed as 'Quadruplex' (4 units). This discrepancy is a major concern, potentially indicating zoning issues, non-conforming use, or incorrect MLS data that requires thorough due diligence.