Property Listing: Garden Hill Apartments, Watsonville, CA

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31 Lassen Way, Watsonville, CA 95076

80 Apartment Units, each with private 2-car garage, deck or patio

Sold, LP: $15,000,000

31 Lassen Way

• 12 separate Apartment Buildings • Two parking spaces per apartment (1 garage & 1 outside designated), plus guest and employee parking • Building roofs replaced 2010 (No known leaks) • Smoke & Carbon Dioxide detectors in each apartment • Exterior Repainted 2010 • Interior repainted as tenants move out. • Washers & Dryers are leased • Double pane windows being replaced as tenants vacate • Formica kitchen and bath counter tops • Property is maintained in “above average” condition Property ...

• 12 separate Apartment Buildings
• Two parking spaces per apartment (1 garage & 1 outside designated), plus guest and employee parking
• Building roofs replaced 2010 (No known leaks)

• Smoke & Carbon Dioxide detectors in each apartment • Exterior Repainted 2010
• Interior repainted as tenants move out.
• Washers & Dryers are leased

• Double pane windows being replaced as tenants vacate • Formica kitchen and bath counter tops
• Property is maintained in “above average” condition

Property Rental Performance:

All apartments rented “month to month”. NO VACANCY Each Tenant pays a security deposit
All rents must be paid by the fifth day of each new month. (CURRENTLY ALL RENT FOR PAST AND CURRENT MONTH ARE PAID)

Property rent roll is below similar Watsonville apartments. (Rents are being increased by 5% annually)
Most Tenants are currently employed and working in Pa- jaro Valley Agriculture.

Apartment bedroom count:

3 One bedroom one bath 56 Two bedrooms one bath 21 Three bedrooms one bath

Utility Service:

Gas & Power, PG&E
Sewer, Water, Garbage, City of Watsonville
Laundry Services, Coin Operated (10 washers & 10 dryers)

Appliances:

Gas stoves with ovens Garbage Disposals Refrigerator with freezing units Gas wall heaters

Apartment Complex Operations:

Well written Tenant rules, strictly enforced by resident manager.
On-site maintenance and landscape person

Location Benefits:

2 blocks to public school
2 miles to shopping & employment centers
1 block to public transportation
Child “tot lot” on site, 2 miles to regional park

Full Description