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Multifamily

Casa De Dallas Apartments

1712 Howard Rd, Madera, CA 93637

Listing Price: $4,875,000

Cap Rate
6.15%
Number of Units
32
GRM
7.75
Occupancy
95.0%
Price/Unit
$152,344
Price/Gross SF
$134.08
Gross SF
36,360

Investment Overview

Marcus & Millichap is pleased to present Casa De Dallas Apartments in Madera, CA. Built in 1972, the complex consists of (32) individually mapped units. The property sits on 1.45 acres. The property has a very favorable unit mix: (2) two-bedroom/one-bathroom units that are approximately 1,088 square feet, (26) two-bedroom/two-bathroom units that are approximately 1,088 square feet and (4) three-bedroom/two-bathroom townhouse style units that are approximately 1,474 square feet each. The units are separately metered for gas and electric. The subject property attracts tenants because of its large spacious units and fantastic West Madera location. Each unit has washer/dryer hookups, fireplace (in select units) and their own large private enclosed patios. The interiors have carpet in the living rooms and bedrooms and vinyl plank flooring or ceramic tile in the kitchens and bathrooms.

Casa De Dallas is conveniently located on Howard Road with easy access on and off Highway 99. There are many restaurants and retail nearby: Howard Market Place (Save Mart, Deli Delicious, McDonalds. Taco Bell, Etc.) Madera Market Place is approximately 3 miles away with tenants such as: Walmart, Chase Bank and Goodwill. Other retail and restaurants include: Starbucks (0.2 miles), Me-N-Eds (0.1 miles), Kuppa Joy (0.4 miles). There are many schools nearby: John Adams Elementary (0.3 miles), Thomas Jefferson Middle School (0.8 miles), Madera High (1 mile) and Madera South High School (2 miles). Madera County is one the fastest growing counties in the Western United States.

Priced at a 6.15% cap rate and 8.64 GRM on current income, the subject property represents a value-add opportunity through interior upgrades on turnover and increasing. You can also implement RUBS for additional income like the other competitors in the area.

Investment Highlights

  • Favorable Unit Mix: (2) Two-Bedroom/One-Bathroom, (26) Two-Bedroom/Two-Bathroom and (4) Three-Bedroom/Two-Bathroom Units
  • Located in a Fantastic Location of West Madera
  • Large Spacious Units with Large Enclosed Patios
  • Value-Add Opportunity: Upgrade Interiors with Vinyl Plank Flooring, LED lighting and Granite Countertops to Achieve Market Rents on Turnover.
  • Implement RUBS program to Increase Cashflow
  • Attractively Priced at a 6.15% Cap Rate on Current/7.83% on Proforma
  • Located in a Very Strong Rental Market
  • Property is Condo Mapped (Separate Parcel Numbers)

Exclusively Listed By

Financing By

Multifamily

Casa De Dallas Apartments

Listing Price: $4,875,000

Cap Rate
6.15%
Number of Units
32
GRM
7.75
Occupancy
95.0%
Price/Unit
$152,344
Price/Gross SF
$134.08
Gross SF
36,360

Investment Highlights

  • Favorable Unit Mix: (2) Two-Bedroom/One-Bathroom, (26) Two-Bedroom/Two-Bathroom and (4) Three-Bedroom/Two-Bathroom Units
  • Located in a Fantastic Location of West Madera
  • Large Spacious Units with Large Enclosed Patios
  • Value-Add Opportunity: Upgrade Interiors with Vinyl Plank Flooring, LED lighting and Granite Countertops to Achieve Market Rents on Turnover.
  • Implement RUBS program to Increase Cashflow
  • Attractively Priced at a 6.15% Cap Rate on Current/7.83% on Proforma
  • Located in a Very Strong Rental Market
  • Property is Condo Mapped (Separate Parcel Numbers)

Investment Overview

Marcus & Millichap is pleased to present Casa De Dallas Apartments in Madera, CA. Built in 1972, the complex consists of (32) individually mapped units. The property sits on 1.45 acres. The property has a very favorable unit mix: (2) two-bedroom/one-bathroom units that are approximately 1,088 square feet, (26) two-bedroom/two-bathroom units that are approximately 1,088 square feet and (4) three-bedroom/two-bathroom townhouse style units that are approximately 1,474 square feet each. The units are separately metered for gas and electric. The subject property attracts tenants because of its large spacious units and fantastic West Madera location. Each unit has washer/dryer hookups, fireplace (in select units) and their own large private enclosed patios. The interiors have carpet in the living rooms and bedrooms and vinyl plank flooring or ceramic tile in the kitchens and bathrooms. Casa De Dallas is conveniently located on Howard Road with easy access on and off Highway 99. There are many restaurants and retail nearby: Howard Market Place (Save Mart, Deli Delicious, McDonalds. Taco Bell, Etc.) Madera Market Place is approximately 3 miles away with tenants such as: Walmart, Chase Bank and Goodwill. Other retail and restaurants include: Starbucks (0.2 miles), Me-N-Eds (0.1 miles), Kuppa Joy (0.4 miles). There are many schools nearby: John Adams Elementary (0.3 miles), Thomas Jefferson Middle School (0.8 miles), Madera High (1 mile) and Madera South High School (2 miles). Madera County is one the fastest growing counties in the Western United States. Priced at a 6.15% cap rate and 8.64 GRM on current income, the subject property represents a value-add opportunity through interior upgrades on turnover and increasing. You can also implement RUBS for additional income like the other competitors in the area.

Exclusively Listed By

Financing By

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