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Multifamily

Barcelona Apartments

422 North St, Woodland, CA 95695

Listing Price: $1,650,000

Cap Rate
4.37%
Number of Units
10
GRM
9.48
Occupancy
97.0%
Price/Unit
$165,000
Price/Gross SF
$330.00
Gross SF
5,000

Investment Overview

Marcus & Millichap is pleased to present the sale of this enticing opportunity involving a 22-unit, two-property portfolio situated in Woodland, CA. Conveniently located just blocks away from Main Street and downtown Woodland, the portfolio encompasses Redwood Manor Apartments at 132 5th Street, featuring 12 units, and Barcelona Apartments at 422 N Street, comprising of 10 units. All units are one-bedroom configurations, ranging from 500 to 550 square feet.

Nestled in a residential neighborhood with nearby schools and within walking distance to downtown Woodland, these properties offer a desirable living environment. The current owner has diligently upgraded and remodeled select units while maintaining a high standard of maintenance. In 2023, Redwood Manor Apartments received a new roof, with the addition of a new fence. Each property boasts designated and additional parking, along with off-street parking facilities.

The tenant base is strong, and the overall Woodland market has demonstrated consistent growth over several years. With convenient access to Interstate 5 and Highway 113, residents can easily commute to Sacramento or Davis. Davis, in particular, has exerted a significant influence on Woodland. The ongoing proximity between the two cities, coupled with the rising housing prices in Davis, has driven an increasing number of residents—both students and long-term residents—to explore Woodland as a more affordable alternative. As a result, vacancies are virtually nonexistent, and there has been a rental increase of approximately six percent in the past year, with further increases anticipated in 2024.

Barcelona Apartments, under the current ownership, stands as a testament to pride of ownership. Without a doubt, it shows well as one of the neighborhood's finest apartment buildings. The property is conveniently located near a charming neighborhood, surrounded by residential housing, and within walking distance to downtown. Additionally, a new owner stands to gain from the potential extra income generated by adding washer/dryer units to the laundry room. Please note, these two properties are being sold together as a portfolio. Please do not disturb tenants. All tours must be scheduled with the listing agent.

Investment Highlights

  • Two-Property Portfolio: 22 Total Units In A Strong Woodland Submarket - Barcelona Apartments: 10 Units
  • Pride Of Ownership Asset - Two Of The Most Well-Maintained Apartment Buildings in The Neighborhood!
  • Attractive Unit-Make-Up: All One Bedroom Units Measuring Approximately 500 Square Feet
  • Select Units Have Been Remodeled And Upgraded With New Kitchen Cabinets, Appliances & Vinyl Flooring
  • On-Site Designated Parking For Each Unit Plus Additional On-Site Parking Spaces
  • Easy Access to Interstate 5, Highway 113, Entertainment, Shopping, & More

Exclusively Listed By

Multifamily

Barcelona Apartments

Listing Price: $1,650,000

Cap Rate
4.37%
Number of Units
10
GRM
9.48
Occupancy
97.0%
Price/Unit
$165,000
Price/Gross SF
$330.00
Gross SF
5,000

Investment Highlights

  • Two-Property Portfolio: 22 Total Units In A Strong Woodland Submarket - Barcelona Apartments: 10 Units
  • Pride Of Ownership Asset - Two Of The Most Well-Maintained Apartment Buildings in The Neighborhood!
  • Attractive Unit-Make-Up: All One Bedroom Units Measuring Approximately 500 Square Feet
  • Select Units Have Been Remodeled And Upgraded With New Kitchen Cabinets, Appliances & Vinyl Flooring
  • On-Site Designated Parking For Each Unit Plus Additional On-Site Parking Spaces
  • Easy Access to Interstate 5, Highway 113, Entertainment, Shopping, & More

Investment Overview

Marcus & Millichap is pleased to present the sale of this enticing opportunity involving a 22-unit, two-property portfolio situated in Woodland, CA. Conveniently located just blocks away from Main Street and downtown Woodland, the portfolio encompasses Redwood Manor Apartments at 132 5th Street, featuring 12 units, and Barcelona Apartments at 422 N Street, comprising of 10 units. All units are one-bedroom configurations, ranging from 500 to 550 square feet. Nestled in a residential neighborhood with nearby schools and within walking distance to downtown Woodland, these properties offer a desirable living environment. The current owner has diligently upgraded and remodeled select units while maintaining a high standard of maintenance. In 2023, Redwood Manor Apartments received a new roof, with the addition of a new fence. Each property boasts designated and additional parking, along with off-street parking facilities. The tenant base is strong, and the overall Woodland market has demonstrated consistent growth over several years. With convenient access to Interstate 5 and Highway 113, residents can easily commute to Sacramento or Davis. Davis, in particular, has exerted a significant influence on Woodland. The ongoing proximity between the two cities, coupled with the rising housing prices in Davis, has driven an increasing number of residents—both students and long-term residents—to explore Woodland as a more affordable alternative. As a result, vacancies are virtually nonexistent, and there has been a rental increase of approximately six percent in the past year, with further increases anticipated in 2024. Barcelona Apartments, under the current ownership, stands as a testament to pride of ownership. Without a doubt, it shows well as one of the neighborhood's finest apartment buildings. The property is conveniently located near a charming neighborhood, surrounded by residential housing, and within walking distance to downtown. Additionally, a new owner stands to gain from the potential extra income generated by adding washer/dryer units to the laundry room. Please note, these two properties are being sold together as a portfolio. Please do not disturb tenants. All tours must be scheduled with the listing agent.

Exclusively Listed By

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