Investment Overview

Marcus & Millichap is pleased to present this premiere Apartment site located at the SWC of Sycamore Road and Meyers Street in Arvin, CA. This 10.67-acre plot of land with an APN# 189-351-37 is zoned R4 for Multi- Family apartment approval. This apartment site is surrounded by newer residential subdivisions, a brand-new housing tract and the corner ten acres of C-2 zoned Commercial Retail land for future development. This is the newer growing area of Arvin. Apartments ?nancially thrive in a geographic area like this. This is a HOT, HOT and promising area. This can be one of the areas larger Market Rate rental properties to come online. There haven’t been many newer apartments built in a while. Most of the existing apartments are tied to the Housing Authority and other Affordable Housing programs. With new homes not getting any more affordable, alternative housing needs still must be met. Larger apartment complexes have drawn a lot of buyer attention from Capital groups looking to purchase these investment type vehicles. There will be a lot of demand IF the Developer decides to build and sell as opposed to build and hold.