About this home
Attractive 15-unit multifamily investment opportunity located at 3871-3901 Country Club Dr in Clearlake, CA, situated on an expansive 1.23-acre site across three separate parcels. The property consists of three buildings with a diverse unit mix offering broad tenant appeal and operational flexibility, plus one vacant lot. Recent capital improvements include new electrical panels throughout the property and replacement of all AC units within the past 10 years. Several units have been renovated, while the majority remain in well-maintained original condition, providing an opportunity for a new owner to pursue a targeted value-add strategy through interior upgrades. Additional upside may be available through operating efficiencies and potential utility cost recovery. Ownership can evaluate implementation of a RUBS program for water, sewer, and garbage, subject to applicable laws and regulations. With substantial land, existing cash flow, recent capital improvements, and multiple avenues for increasing income, this asset presents an opportunity to acquire an established multifamily property with long-term value-add potential. Parcels: 037-303-240-000 (3871 Country Club Dr), 037-303-360-000 (3891 Country Club Dr), 037-303-350-000 (3890 Country Club Dr).
- Property type
- Five Or More Units
- Lot size
- 53,578 sq ft
- Status
- Active
Listed by Steve Belluomini, Corcoran Icon Properties. Source: MLSL. MLS #ML82061558.
Updated 9/16/2026, 5:17:12 PM PT.
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