3781 W Line St

The Glaser Group is pleased to present 3781 W Line St, a fantastic 9-unit investment property located in Bishop, CA. This large, picturesque property sits on a 1.81 Acre Lot with a 1,000 SqFt trout pond, old growth trees and multiple creeks running through it. The property features 8 separate “single family” style structures, comprising 9 units and 4,937 square feet of living area in total. The front 4-bedroom main house also features a large private garage. The majority of the units have been recently remodeled and re-rented, with five of the units able to be delivered vacant. All in all, the property has received $300K - $400K of recent capital improvements including interior remodels, new exterior paint, concrete driveway / walkways, an automatic sprinkler system and newer copper water lines. 3781 W Line St offers a strong Day 1 cash flow currently sitting at a 6.02% Cap Rate! Additionally, a new buyer may be able to build 1-4 ADUs on the vacant back portion of the lot (Buyer to carry out their own investigation).
Bishop, California, nestled in the scenic Owens Valley, presents a compelling multifamily investment market characterized by its unique blend of natural beauty and economic potential. Surrounded by the majestic Sierra Nevada mountain range, Bishop serves as a gateway to outdoor enthusiasts seeking adventure in the Eastern Sierra region including Mammoth Mountain. Bishop has a highly supply constrained home and rental market with very few long or short-term options available to prospective tenants. With its renovated units, scenic & mountainous backdrop, high-demand rental market and strong rents, 3781 W Line St presents a fantastic multifamily investment opportunity in the Eastern Sierra Nevada region.