Multifamily

Chief Kelly Townhomes

203-221 Chief Kelly Dr, Nevada City, CA 95959

Listing Price: $1,925,000

Cap Rate
4.92%
Number of Units
6
GRM
13.83
Occupancy
95.0%
Price/Unit
$320,833
Price/Gross SF
$251.73
Gross SF
7,647

Investment Overview

Marcus & Millichap is pleased to present Chief Kelly Townhomes located in Nevada City, California. The property is comprised of three duplexes on separate parcels for a total of six units. The buildings were constructed in 2015, and are all three-bedroom/2.5-bath townhouse-style units of approximately 1,275 square feet each. The exteriors feature pitched roofs, hardie board siding, custom three-tone paint, dual-pane windows, and aesthetically done drought resistant landscaping. Unit interiors provide tenants with a plethora of amenities including hardwood floors, recessed lighting, modern kitchen cabinets with granite countertops, central heat and air, spacious closets, washer and dryer hookups, and single-car garages. Due to the age of construction in 2015, this property is not subject to AB 1482 (prospective Buyers to verify).

Chief Kelly Townhomes is just a 10-minute walk to downtown Nevada City. Broad Street is the main retail thoroughfare and offers a variety of eclectic shops where one can spend hours wandering in and out of the various restaurants, coffee shops, candy, clothing, home decor, art, and spiritual healing stores. Ski resorts, Lake Tahoe, Reno, local lakes, rivers, stimulating hikes or many of the other stunning attractions are within a two-hour drive from Chief Kelly Townhomes. This offering provides an investor with the opportunity to acquire an AB-1482 exempt well-kept newer building with a highly desirable unit mix, in a market with extremely strong rental demand. Due to the low extremely low-interest rate environment, an investor has the ability to lock in a long-term low-interest rate enhancing the building's cash flow for years to come.

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

Investment Highlights

  • All Three-Bedroom/2.5-Bath Townhouse Style Units with Garages
  • 2015 Construction Exempt from AB1482 (Prospective Buyers to Verify)
  • Pitched Roofs, Stucco Exteriors, Dual Pane Windows

Exclusively Listed By

Listing Price: $1,925,000

Cap Rate
4.92%
Number of Units
6
GRM
13.83
Occupancy
95.0%
Price/Unit
$320,833
Price/Gross SF
$251.73
Gross SF
7,647

Investment Highlights

  • All Three-Bedroom/2.5-Bath Townhouse Style Units with Garages
  • 2015 Construction Exempt from AB1482 (Prospective Buyers to Verify)
  • Pitched Roofs, Stucco Exteriors, Dual Pane Windows

Investment Overview

Marcus & Millichap is pleased to present Chief Kelly Townhomes located in Nevada City, California. The property is comprised of three duplexes on separate parcels for a total of six units. The buildings were constructed in 2015, and are all three-bedroom/2.5-bath townhouse-style units of approximately 1,275 square feet each. The exteriors feature pitched roofs, hardie board siding, custom three-tone paint, dual-pane windows, and aesthetically done drought resistant landscaping. Unit interiors provide tenants with a plethora of amenities including hardwood floors, recessed lighting, modern kitchen cabinets with granite countertops, central heat and air, spacious closets, washer and dryer hookups, and single-car garages. Due to the age of construction in 2015, this property is not subject to AB 1482 (prospective Buyers to verify).

Chief Kelly Townhomes is just a 10-minute walk to downtown Nevada City. Broad Street is the main retail thoroughfare and offers a variety of eclectic shops where one can spend hours wandering in and out of the various restaurants, coffee shops, candy, clothing, home decor, art, and spiritual healing stores. Ski resorts, Lake Tahoe, Reno, local lakes, rivers, stimulating hikes or many of the other stunning attractions are within a two-hour drive from Chief Kelly Townhomes. This offering provides an investor with the opportunity to acquire an AB-1482 exempt well-kept newer building with a highly desirable unit mix, in a market with extremely strong rental demand. Due to the low extremely low-interest rate environment, an investor has the ability to lock in a long-term low-interest rate enhancing the building's cash flow for 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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