Located in the heart of the stunning Kern River Valley, Lake Isabella is surrounded by breathtaking mountains, lush forests and crystal-clear lakes and streams. Lake Isabella appeals to tourists, remote workers, retirees, boaters and those who appreciate the great outdoors and desire clean air & quality of life not found in the city! The Kern River Valley is lacking multi-unit housing. Own a strong Income producing property with extensive rental history right in downtown Lake Isabella. Garden style architecture, this pride of ownership property is situated on four contiguous R-3 zoned parcels totaling 33,541 sqft. There is ample parking for vehicles and RV’s. 10 exceptionally well-maintained dwellings in total; consisting of 8 units set up as 4 duplex buildings each with 2 beds & 1 bath; one single-family home with 3 beds & 1 baths and fireplace, plus a 1 bed + 1 bath unit, with room for more. The newly remodeled vacant unit is perfect for an investor/ owner user who desires to live on site. Pitched roofs, separate gas and electric metered, 9 units have their own washer-dryer hook-ups, and they feel like private homes. All units have private yards and storage. This is an opportunity for the buyer seeking both a steady stream of rental income, and achieve a huge upside. There are also ways to produce additional income. Lake Isabella properties like this are desirable and rare, currently generating $98k per year gross. Over the past three years the current owner has spent over $150,000 meticulously upgrading several units and the grounds. Interior Improvements include quartz countertops, LVP flooring, new fixtures and much more. The photos speak for themselves. Renters in Lake Isabella will pay $1,095 / month for quality 2-bedroom units, demand is strong. The next owner will benefit from recent work, generating higher rents. Lots front on THREE streets, providing future potential for expansion. Great additional income potential/possibilities include adding ADUs, or converting to vacation rentals / Air BnBs. Many tourists- vacationers come to Kern to enjoy river-rafting and beach recreation. Proforma income at market rents is $130,000/yr. That is a tremendous upside, with a cost of only $149,500 per unit. Tenants love outdoor activities, appreciate the natural beauty and want to enjoy the quality of life. A town small enough to appreciate and large enough to have a Starbucks and Vons Supermarket nearby as well as several local eateries and shops. And when you’re done collecting rents you can go fishing!
