Multifamily

Tuscana

315 Mt Oso Ave, Tracy, CA 95376

Listing Price: $10,500,000

Cap Rate
4.59%
Number of Units
30
GRM
14.50
Occupancy
100.0%
Price/Unit
$350,000
Price/Gross SF
$337.53
Gross SF
31,108

Investment Overview

Tuscana Townhomes is an exceptional multifamily asset located in Tracy, California, a desirable bedroom community becoming increasingly popular for employers and residents connected to the San Francisco Bay Area. Built in 2007, the property showcases modern and functional two and three bedroom townhouse style floor plans. The lush, well-maintained landscaping and surrounding single family homes add to the community's appeal. The units have been upgraded in recent years and now showcase kitchens with granite countertops, energy efficient stainless steel appliances, an in-unit washer and dryer, LVT flooring, an upgraded lighting package and private patios. Each unit also has an assigned one-car garage, two of which enjoy direct access. Ownership has also added a pergola and outdoor fire pit as communal amenities.The City of Tracy has been a poster child for job and population growth spilling over from the Bay Area with estimates that about 65% of the residents in Tracy commute to work in the Bay Area. That trend has not escaped notice by transportation planners. Highway 580 has been expanded in recent years and ACE Train (https://acerail.com/) stops in Tracy on its way to San Jose. A new exciting public transportation option called Valley Link (https://www.valleylinkrail.com/) is in its infancy that will link commuters from Tracy directly with BART stations in the East Bay. With estimates that more than 80,000 commuters from the Central Valley travel to the Bay Area for work daily, this will surely increase demand for housing at properties like Tuscana.Local employers in places like the ProLogis 1800-acre business park continue to expand with announcements like DHL, Katerra, Clutter, Systems Services of America, etc. There are two Amazon facilities in town; the company recently announced a $700mm training program for employees. CMP moved its HQ from Fremont to Tracy. Tuscana is ideally poised to ride this continued growth trend. Ownership has been successful in raising rents but still lag the market, as supported by the competitive set. The ideal purchaser will be an investor looking for modern construction in turnkey condition in a growth market that will continue to grow income organically.

Investment Highlights

  • 2007 Constructed Condo-Spec Community in Suburban Location
  • Superb Unit Mix of Two & Three Bedroom Townhomes with Assigned Garages
  • 29 of 30 Units Fully Renovated

Exclusively Listed By

Listing Price: $10,500,000

Cap Rate
4.59%
Number of Units
30
GRM
14.50
Occupancy
100.0%
Price/Unit
$350,000
Price/Gross SF
$337.53
Gross SF
31,108

Investment Highlights

  • 2007 Constructed Condo-Spec Community in Suburban Location
  • Superb Unit Mix of Two & Three Bedroom Townhomes with Assigned Garages
  • 29 of 30 Units Fully Renovated

Investment Overview

Tuscana Townhomes is an exceptional multifamily asset located in Tracy, California, a desirable bedroom community becoming increasingly popular for employers and residents connected to the San Francisco Bay Area. Built in 2007, the property showcases modern and functional two and three bedroom townhouse style floor plans. The lush, well-maintained landscaping and surrounding single family homes add to the community's appeal. The units have been upgraded in recent years and now showcase kitchens with granite countertops, energy efficient stainless steel appliances, an in-unit washer and dryer, LVT flooring, an upgraded lighting package and private patios. Each unit also has an assigned one-car garage, two of which enjoy direct access. Ownership has also added a pergola and outdoor fire pit as communal amenities.The City of Tracy has been a poster child for job and population growth spilling over from the Bay Area with estimates that about 65% of the residents in Tracy commute to work in the Bay Area. That trend has not escaped notice by transportation planners. Highway 580 has been expanded in recent years and ACE Train (https://acerail.com/) stops in Tracy on its way to San Jose. A new exciting public transportation option called Valley Link (https://www.valleylinkrail.com/) is in its infancy that will link commuters from Tracy directly with BART stations in the East Bay. With estimates that more than 80,000 commuters from the Central Valley travel to the Bay Area for work daily, this will surely increase demand for housing at properties like Tuscana.Local employers in places like the ProLogis 1800-acre business park continue to expand with announcements like DHL, Katerra, Clutter, Systems Services of America, etc. There are two Amazon facilities in town; the company recently announced a $700mm training program for employees. CMP moved its HQ from Fremont to Tracy. Tuscana is ideally poised to ride this continued growth trend. Ownership has been successful in raising rents but still lag the market, as supported by the competitive set. The ideal purchaser will be an investor looking for modern construction in turnkey condition in a growth market that will continue to grow income organically.

Exclusively Listed By

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