Multifamily

Cedar Place

697 King Ave, Yuba City, CA 95991

Listing Price: $1,350,000

Cap Rate
5.56%
Number of Units
14
GRM
10.72
Occupancy
100.0%
Price/Unit
$96,429
Price/Gross SF
$171.25
Gross SF
7,883

Investment Overview

Marcus & Millichap is proud to present Cedar Place Apartments, a 14-unit apartment complex in Yuba City, California. In the past six months, the owner has replaced the roof, the windows, repaired all dry rot, added a laundry room, replaced the landscaping, and renovated more then half of the interiors.

Despite all of his work, the project still has considerable upside in rents, with many of the rents more then $200 under market. The new owner will be able to take advantage of a growing market, with very little vacancy and take the current CAP from 5.56 percent to 8.31 percent. It is virtually impossible to find a turnkey deal in Northern California today with such upside in rents. Furthermore, with the heavy lifting done, and the superstructure secure, the new owner will be able to take advantage of the market and pursue the upgrades either aggressively, or more naturally upon move outs depending on their time frames and cash position.

Located in the heart of Yuba City, with easy access to schools, shopping and transportation, the buyer will have the opportunity to take over a well cared for, well performing asset in one of the most dynamic growing cities in Northern California today.
most dynamic growing cities in Northern CA today

Investment Highlights

  • New Roof
  • New Windows
  • Upside in Rents
  • Seven Units Renovated
  • New Laundry Room

Exclusively Listed By

Listing Price: $1,350,000

Cap Rate
5.56%
Number of Units
14
GRM
10.72
Occupancy
100.0%
Price/Unit
$96,429
Price/Gross SF
$171.25
Gross SF
7,883

Investment Highlights

  • New Roof
  • New Windows
  • Upside in Rents
  • Seven Units Renovated
  • New Laundry Room

Investment Overview

Marcus & Millichap is proud to present Cedar Place Apartments, a 14-unit apartment complex in Yuba City, California. In the past six months, the owner has replaced the roof, the windows, repaired all dry rot, added a laundry room, replaced the landscaping, and renovated more then half of the interiors.

Despite all of his work, the project still has considerable upside in rents, with many of the rents more then $200 under market. The new owner will be able to take advantage of a growing market, with very little vacancy and take the current CAP from 5.56 percent to 8.31 percent. It is virtually impossible to find a turnkey deal in Northern California today with such upside in rents. Furthermore, with the heavy lifting done, and the superstructure secure, the new owner will be able to take advantage of the market and pursue the upgrades either aggressively, or more naturally upon move outs depending on their time frames and cash position.

Located in the heart of Yuba City, with easy access to schools, shopping and transportation, the buyer will have the opportunity to take over a well cared for, well performing asset in one of the most dynamic growing cities in Northern California today.
most dynamic growing cities in Northern CA today

Exclusively Listed By

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