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83298 Argus Avenue, Trona, California 93562, Trona, 93562 - 36 bed, 36 bath

83298 Argus Avenue, Trona, California 93562 home-pic-0
ACTIVE$750,000$21,660/sqft
83298 Argus Avenue, Trona, California 93562
36Beds
36Baths
21,660Sqft
129,808Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Large-Scale Investment Opportunity: The property offers a rare large-scale investment with 36 multi-family units across four buildings, totaling 22,000 sqft of living area.
Top Cons:
Extensive Renovation Required: Only one unit is fully completed, with the remaining 35 units requiring significant renovation, implying substantial capital investment and project management.

Compared to the nearby listings

Compared against 0 nearby listings

More Insights

Built in 1948 (78 years old).
Condition: The property was built in 1948, making it 76 years old. While one unit has been fully completed with modern updates in the kitchen and bathroom (new cabinets, flooring, fixtures, and shower surround), and two buildings have new roofs, the listing explicitly states that the 'remaining units are ready for renovation.' The images of these unrenovated units clearly show extensive damage, exposed studs, peeling paint, and missing fixtures, indicating a need for substantial repairs and rehabilitation across the majority of the complex. The overall condition of the 36-unit property is far from move-in ready for most units and requires significant investment to bring them to a livable standard.
Year Built
1948
Close
-
List price
$750K
Original List price
$750K
Price/Sqft
$35
HOA
-
Days on market
-
Sold On
-
MLS number
SW26001378
Home ConditionPoor
Features
Good View: Desert, Mountain(s), Neighborhood
ViewDesert, Mountain(s), Neighborhood

About this home

(36 units /36Beds/36Baths/Each Unit is 500sqft 1B1B) Multi-family commercial/residential complex for sale located at 83298 Argus Ave in Trona California offering a rare large scale investment opportunity. The property consists of four separate apartment buildings with an equal number of units in each all configured as one bedroom one bathroom units totaling approximately 22000 square feet of living area on an expansive three acre lot. Utilities including gas water and electric are present and the property features separate laundry room structures. Two of the four buildings have recently received new roofs and one unit in the first building has been fully completed while the remaining units are ready for renovation. The entire complex is currently vacant and offers significant upside potential with projected rents of 800 to 900 per unit upon completion as Trona continues to grow and much of the surrounding real estate is being actively rehabilitated creating strong future demand and long term upside.

G
Gilberto Garcia
Listing Agent

Price History

Date
Event
Price
05/25/10
Sold
$50,000
08/14/06
Sold
$590,000
06/30/05
Sold
$92,500
Condition Rating
Poor
The property was built in 1948, making it 76 years old. While one unit has been fully completed with modern updates in the kitchen and bathroom (new cabinets, flooring, fixtures, and shower surround), and two buildings have new roofs, the listing explicitly states that the 'remaining units are ready for renovation.' The images of these unrenovated units clearly show extensive damage, exposed studs, peeling paint, and missing fixtures, indicating a need for substantial repairs and rehabilitation across the majority of the complex. The overall condition of the 36-unit property is far from move-in ready for most units and requires significant investment to bring them to a livable standard.
Pros & Cons

Pros

Large-Scale Investment Opportunity: The property offers a rare large-scale investment with 36 multi-family units across four buildings, totaling 22,000 sqft of living area.
Significant Upside Potential: Projected rents of $800-$900 per unit upon completion, coupled with Trona's growth and active rehabilitation in surrounding areas, indicate strong future demand and long-term upside.
Recent Capital Improvements: Two of the four apartment buildings have recently received new roofs, reducing immediate capital expenditure in those areas.
Expansive Lot Size: Situated on an expansive three-acre lot (129,808 sqft), providing ample space and potential for future development or amenities.
Existing Infrastructure: Essential utilities including gas, water, and electric are present, along with separate laundry room structures, streamlining future operations.

Cons

Extensive Renovation Required: Only one unit is fully completed, with the remaining 35 units requiring significant renovation, implying substantial capital investment and project management.
Currently Vacant: The entire complex is vacant, meaning no immediate rental income and potential for holding costs during the extensive renovation and lease-up period.
Market Niche & Location Risk: Trona is a smaller, remote community; while growth is projected, the market depth and tenant pool might be limited compared to larger metropolitan areas, posing a potential risk to sustained demand.
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