Multifamily

2619 Atwater Boulevard Apartments

Listing Price: $1,400,000

Cap Rate
6.34%
Number of Units
16
GRM
8.78
Occupancy
97.00%
Price/Unit
$87,500
Price/Gross SF
$142.86
Gross SF
9,800

Investment Overview

Marcus & Millichap is pleased to present 2619 Atwater Boulevard in Atwater, California. Built in 1960, the property has five freshly painted single level pitched roof buildings with four floor plans that sit on a .75-acre lot. The unit mix is comprised of two studio units at approximately 400 square feet, 6 one-bedroom/one-bathroom units at approximately 500 square feet, 6 two-bedroom/one-bathroom units at approximately 700 square feet, and 2 three-bedroom/one-bathroom units at approximately 900 square feet. All units are individually water and gas metered. Approximately 50 percent of the units have been upgraded by current ownership with new flooring, kitchens, baths, and paint. Select units are equipped with HVAC while the other units are equipped with wall heat and air. Tenants have the convenience of an on-site laundry facility as well as an abundance of off-street parking.

2619 Atwater Boulevard apartments are located conveniently right off Highway 99 in Atwater, California. The location also offers tenants a commuter friendly location due to its quick access to the freeway and its centralized location in the central valley. Atwater and the surrounding Central Valley submarkets have experienced rent growth due to the outward pressures of the Bay Area and the Sacramento region. There has been a migration trend to the central valley which is causing a rapid growth of super commuters due to the rising cost of housing. This offering provides a new buyer with the opportunity to acquire an apartment building in a low interest rate environment with a desirable unit mix, in a market with rental demand. With the continuation of the renovation program, an investor will surely benefit from the increased cash flows for many years to come.

Drive-by only. Please do not disturb tenants. All tours must be scheduled through the listing agents in advance.

Investment Highlights

  • Four Floor Plans
  • Individual Water Heaters and Gas Metered
  • On-Site Facility and Off-Street Parking
  • 50 Percent of Units Upgraded with Flooring, Kitchens, Baths
  • Freshly Painted Single Level Buildings with Pitched Roofs
  • 8.16 Percent Cash-on-Cash Return

Exclusively Listed By

Multifamily

2619 Atwater Boulevard Apartments

Listing Price: $1,400,000

Cap Rate
6.34%
Number of Units
16
GRM
8.78
Occupancy
97.00%
Price/Unit
$87,500
Price/Gross SF
$142.86
Gross SF
9,800

Investment Highlights

  • Four Floor Plans
  • Individual Water Heaters and Gas Metered
  • On-Site Facility and Off-Street Parking
  • 50 Percent of Units Upgraded with Flooring, Kitchens, Baths
  • Freshly Painted Single Level Buildings with Pitched Roofs
  • 8.16 Percent Cash-on-Cash Return

Investment Overview

Marcus & Millichap is pleased to present 2619 Atwater Boulevard in Atwater, California. Built in 1960, the property has five freshly painted single level pitched roof buildings with four floor plans that sit on a .75-acre lot. The unit mix is comprised of two studio units at approximately 400 square feet, 6 one-bedroom/one-bathroom units at approximately 500 square feet, 6 two-bedroom/one-bathroom units at approximately 700 square feet, and 2 three-bedroom/one-bathroom units at approximately 900 square feet. All units are individually water and gas metered. Approximately 50 percent of the units have been upgraded by current ownership with new flooring, kitchens, baths, and paint. Select units are equipped with HVAC while the other units are equipped with wall heat and air. Tenants have the convenience of an on-site laundry facility as well as an abundance of off-street parking.

2619 Atwater Boulevard apartments are located conveniently right off Highway 99 in Atwater, California. The location also offers tenants a commuter friendly location due to its quick access to the freeway and its centralized location in the central valley. Atwater and the surrounding Central Valley submarkets have experienced rent growth due to the outward pressures of the Bay Area and the Sacramento region. There has been a migration trend to the central valley which is causing a rapid growth of super commuters due to the rising cost of housing. This offering provides a new buyer with the opportunity to acquire an apartment building in a low interest rate environment with a desirable unit mix, in a market with rental demand. With the continuation of the renovation program, an investor will surely benefit from the increased cash flows for many years to come.

Drive-by only. Please do not disturb tenants. All tours must be scheduled through the listing agents in advance.

Exclusively Listed By

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