Investment Overview

Marcus & Millichap is pleased to present twenty-three units located in Patterson, CA. The properties are single-story construction and built between 1927-1940 and consist of (11) duplexes and (1) single-family home. There is a very favorable unit mix of (20) two-bedroom/one-bathroom units that range from approximately 600-750 square feet and (3) three-bedroom/one-bathroom units that range from approximately 1100-1225 square feet. Each unit has washer/dryer hookups. All the units are separately metered for gas and electricity. Patterson is a city in Stanislaus County that is located off Interstate 5. Patterson is 27 miles southeast of Tracy and part of the Modesto Statistical Area. Agriculture is the City’s primary economy with an array of fruits and vegetables (Apricots, almonds, walnuts, tomatoes, broccoli, etc.). Patterson is known as the “Apricot Capital of the World”. There is a population of approximately 23,500 residents that continues to grow annually. Priced at a 5.41% cap rate and 10.58% GRM on current operations, this investment gives investors an opportunity to increase cash flow by raising rents 10% per year and renovating interior on turnover and asking market rents.