Multifamily

Hile Apartments

1820 Hile Ave, Marysville, CA 95901

Listing Price: $2,235,000

Cap Rate
6.77%
Number of Units
18
GRM
9.60
Occupancy
97.0%
Price/Unit
$124,167
Price/Gross SF
$166.79
Gross SF
13,400

Investment Overview

Marcus & Millichap is pleased to present Hile Apartments, an 18-unit apartment community located in Marysville, California. The property consists of exclusively single story buildings. The community also features an enviable unit mix consisting of 17 two-bedroom units and one three-bedroom unit. The units have been recently renovated which typically include vinyl plank flooring, sprayed Formica counter tops, upgraded appliances, and select units have new cabinetry. Every resident will enjoy a private enclosed backyard, excluding the three-bedroom unit, who enjoys a front yard with low maintenance artificial turf.

The next investor to own Hile Apartments will inherit stable management operations with an opportunity to raise rents in one of the fastest growing regions in California. As suburbanization trends accelerate due to COVID 19 and high cost of living, coastal Californian's continue to push inland and combined with very little new construction in the central valley, the imbalance of supply and demand favors continued income growth. Marysville landlords benefit from stable employment in the area as the property is located near Beale Air Force Base, Hard Rock Casino, the Rideout Hospital, and multiple agricultural opportunities that the California central valley is famous for.

The coupling of strong regional fundamentals, stable operations, and an above market return makes this offering highly attractive in today's marketplace. Please do not disturb management of tenants. All tours must be scheduled with listing agent.

Investment Highlights

  • All Two-and-Three-Bedrooms Units
  • Every Unit Has Enclosed Backyard
  • Single Story Buildings
  • Turnkey Asset with Above Market Return

Exclusively Listed By

Listing Price: $2,235,000

Cap Rate
6.77%
Number of Units
18
GRM
9.60
Occupancy
97.0%
Price/Unit
$124,167
Price/Gross SF
$166.79
Gross SF
13,400

Investment Highlights

  • All Two-and-Three-Bedrooms Units
  • Every Unit Has Enclosed Backyard
  • Single Story Buildings
  • Turnkey Asset with Above Market Return

Investment Overview

Marcus & Millichap is pleased to present Hile Apartments, an 18-unit apartment community located in Marysville, California. The property consists of exclusively single story buildings. The community also features an enviable unit mix consisting of 17 two-bedroom units and one three-bedroom unit. The units have been recently renovated which typically include vinyl plank flooring, sprayed Formica counter tops, upgraded appliances, and select units have new cabinetry. Every resident will enjoy a private enclosed backyard, excluding the three-bedroom unit, who enjoys a front yard with low maintenance artificial turf.

The next investor to own Hile Apartments will inherit stable management operations with an opportunity to raise rents in one of the fastest growing regions in California. As suburbanization trends accelerate due to COVID 19 and high cost of living, coastal Californian's continue to push inland and combined with very little new construction in the central valley, the imbalance of supply and demand favors continued income growth. Marysville landlords benefit from stable employment in the area as the property is located near Beale Air Force Base, Hard Rock Casino, the Rideout Hospital, and multiple agricultural opportunities that the California central valley is famous for.

The coupling of strong regional fundamentals, stable operations, and an above market return makes this offering highly attractive in today's marketplace. Please do not disturb management of tenants. All tours must be scheduled with listing agent.

Exclusively Listed By

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