Investment Overview

This offering consists of 5.34-acres of land in the Sonora, CA at the intersection of Union Hill Road, and Parrott’s Ferry, Road. The property has a conditional use permit #11-010 from the County of Tuolumne for the development of an 80-unit multifamily complex. The subject property benefits from an extremely tight rental market, with under two-percent market-wide vacancy, and the nearby $325 Million dollar Chicken Ranch Casino was opened in July of 2024 creating further demand with the creation of several hundred new jobs and workers in need of housing. The nearby Columbia College has an annual enrollment of 2,132 students (in addition to faculty) and further adds to the demand and need for local housing. The submitted drawings for then Union Hills Apartments (Development Name) are approved for eight apartment units, a clubhouse, a swimming pool, detached vehicle garages, detached carports, landscaping, utilities, and parking areas. Indications are that the project can be fast-tracked without public review, and potential final approval in as short as six-eight weeks.