United Self Storage & Development
Calipatria, CA
Building
Summary
- Property Type Industrial, Mixed Use, Self Storage
- Subtype Distribution, Flex, Warehouse
- Investment Type Value Add
- Class C
- Net Rentable (sq ft) 7,000
- Cap Rate 2.00%
- Pro-Forma Cap Rate 8.96%
- Occupancy 99%
- Occupancy Date 12/27/2022
- NOI $16,013
- Pro-Forma NOI $71,710
- Units 67
- Year Built 1997
- Year Renovated 2001
- Buildings 2
- Stories 1
- Zoning Retail, Storage, Vacant Land
- Lot Size (acres) 4.39
- Parking (spaces) 8
- Broker Co-Op Yes
- APN 021-040-035 & 021-040-026
- Asking Price: $600,000
- Earnest Money Deposit: $15,000 min.
Marketing Description
John 14:6 - Jesus said unto him “I am the way, the truth, and the life. No one comes to the Father except through Me.”
The Calvary Realty Realty National Storage group is pleased to present this value add investment opportunity in Southern California.
United Self Storage is located 60 miles southeast of Coachella and 30 miles northwest of the world famous Glamis, which is the largest off-road sand dune location in the United States. The new owner can capitalize on outdoor enthusiast needing a location to store their off-road vehicles and campers.
This single storage facility consists of 6,500 sq. ft. of self storage space divided into 58 units, a 500 sq. ft. Apartment, a management office, RV storage, and over 3.5 acres of excess land for expansion.
The property is currently 99% occupied and has rents that are nearly 100% below market! Rents can double and still remain below competitive facilities in the Imperial Valley.
The facility has a part time manager who answers phones, collects payments, and shows units during the day; as well as a paying tenant in the apartment who watches over the property at night.
Furthermore, the facility is less than 10 miles east of the Salton Sea, which contains the largest lithium deposits in the world. Several large energy companies are building infrastructure locally to mine lithium from the Salton Sea. This is expected to drastically improve the local economy within the next decade.
With its solid tenant base, high occupancy, future potential, and low price point; United Self Storage would be a great investment for a first time investor or seasoned investor seeking a value add opportunity.
Investment Highlights
Team
Milburn Stevens
Brandon Robinson
CA License# 01787727