Multifamily

The Woods Apartments

6413 Tupelo Dr, Citrus Heights, CA 95621

Listing Price: $25,850,000

Cap Rate
4.97%
Number of Units
124
GRM
12.29
Occupancy
94.78%
Price/Unit
$208,468
Price/Gross SF
$257.16
Gross SF
100,520

Investment Overview

Marcus & Millichap is pleased to present The Woods Apartments, a 124-unit, two-story, ten-building, low-rise apartment building. Located on Tupelo Drive, near Antelope Road, off Highway 80 in Citrus Heights, California. The Woods contains a unit mix comprised of 29 percent one-bedroom/one-bathroom units, 26 percent two-bedroom/one-bathroom units, and 45 percent two-bedroom/two-bathroom units. The building offers gated access and covered parking. Future owners of the property will be able to immediately capitalize on the property's upside. Renovated units already demonstrate marketable gains in gross scheduled rent. Future operators, by renovating the remaining units will be able to achieve nearly $215,000 in additional rental income.

Investment Highlights

  • Upside Potential Through Further Renovations
  • Central to Major Employers and Retail
  • Newly Renovated - Interiors and Exteriors

Exclusively Listed By

Listing Price: $25,850,000

Cap Rate
4.97%
Number of Units
124
GRM
12.29
Occupancy
94.78%
Price/Unit
$208,468
Price/Gross SF
$257.16
Gross SF
100,520

Investment Highlights

  • Upside Potential Through Further Renovations
  • Central to Major Employers and Retail
  • Newly Renovated - Interiors and Exteriors

Investment Overview

Marcus & Millichap is pleased to present The Woods Apartments, a 124-unit, two-story, ten-building, low-rise apartment building. Located on Tupelo Drive, near Antelope Road, off Highway 80 in Citrus Heights, California. The Woods contains a unit mix comprised of 29 percent one-bedroom/one-bathroom units, 26 percent two-bedroom/one-bathroom units, and 45 percent two-bedroom/two-bathroom units. The building offers gated access and covered parking. Future owners of the property will be able to immediately capitalize on the property's upside. Renovated units already demonstrate marketable gains in gross scheduled rent. Future operators, by renovating the remaining units will be able to achieve nearly $215,000 in additional rental income.

Exclusively Listed By

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