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Multifamily

Riverside Villas

2255 Bird St, Oroville, CA 95965

Listing Price: $4,250,000

Cap Rate
6.52%
Number of Units
61
GRM
7.06
Occupancy
95.0%
Price/Unit
$69,672

Investment Overview

The DeLoney Group of Marcus & Millichap has been retained as exclusive agent to offer fee simple interest in Riverside Villas. This captivating 61-unit apartment community is located in the heart of Oroville, California. The 1958 built property has seen a tremendous amount capital improvements and overall renovations in 2024, thus distinguishing itself from the bulk of the rental market and providing residents a unique and comforting form of living.

The Riverside Villas features a mix of (29) single-room units which are suitable for short-term living and located throughout the second floor of the complex, (29) studio units, (2) larger studio suites, and (1) manager's suite. In addition to renovating units upon resident turnover, other improvements include paint throughout, a freshly paved parking lot, newly constructed dog park, and a picnic area for residents to enjoy, This property is well located just minutes off HWY-99 and half-way between Yuba City and Chico, two markets which have seen large population growth in the last 5 years.

This offering is a unique opportunity to purchase a renovated and cash flowing asset, with the ability to add value through concentrated management.

All tours must be scheduled through listing agents. Please do not disturb residents or management.

Investment Highlights

  • Recently Renovated in 2024
  • Diverse Unit Mix - Suitable for both short term and long term residency
  • Off-Street Parking - Newly paved and striped parking lot

Exclusively Listed By

Multifamily

Riverside Villas

Listing Price: $4,250,000

Cap Rate
6.52%
Number of Units
61
GRM
7.06
Occupancy
95.0%
Price/Unit
$69,672

Investment Highlights

  • Recently Renovated in 2024
  • Diverse Unit Mix - Suitable for both short term and long term residency
  • Off-Street Parking - Newly paved and striped parking lot

Investment Overview

The DeLoney Group of Marcus & Millichap has been retained as exclusive agent to offer fee simple interest in Riverside Villas. This captivating 61-unit apartment community is located in the heart of Oroville, California. The 1958 built property has seen a tremendous amount capital improvements and overall renovations in 2024, thus distinguishing itself from the bulk of the rental market and providing residents a unique and comforting form of living. The Riverside Villas features a mix of (29) single-room units which are suitable for short-term living and located throughout the second floor of the complex, (29) studio units, (2) larger studio suites, and (1) manager's suite. In addition to renovating units upon resident turnover, other improvements include paint throughout, a freshly paved parking lot, newly constructed dog park, and a picnic area for residents to enjoy, This property is well located just minutes off HWY-99 and half-way between Yuba City and Chico, two markets which have seen large population growth in the last 5 years. This offering is a unique opportunity to purchase a renovated and cash flowing asset, with the ability to add value through concentrated management. All tours must be scheduled through listing agents. Please do not disturb residents or management.

Exclusively Listed By

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