Multifamily

536 Forbes

536 Forbes Ave, Yuba City, CA 95991

Listing Price: $620,000

Cap Rate
5.60%
Number of Units
6
GRM
10.00
Occupancy
97.00%
Price/Unit
$103,333
Price/Gross SF
$165.33
Gross SF
3,750

Investment Overview

Marcus & Millichap is proud to present the Forbes Apartments. 536 Forbes Avenue presents the buyer with an opportunity to purchase a very solid asset with strong upside potential in these uncertain times. The property has a strong tenant base, 100 percent of the rents were paid in April 2020. The subject property is a six-unit apartment complex adjacent to Downtown Yuba City. Built in 1977, the property consists of five two-bedroom/one-bathroom units, and one three-bedroom/one-bathroom unit. The building has been well maintained and there is very little maintenance needed. There is ample parking, on-site laundry facilities and spacious well-appointed interiors.

Forbes lies in a great neighborhood, and is within walking distance of many restaurants, breweries and shopping, with Downtown Yuba City a mere block away. The subject property is close to transportation, Highway 99 and 70. Highway 99 takes residents to Downtown Sacramento in a matter of 45 minutes. Highway 70 takes residents to Beale Air Force Base and Roseville in quick succession as well. Thus, residents at the property have numerous choices for employment, both local and out of town with easy access.

Yuba City has been one of the best apartment markets in California for the past several years. Vacancy has continued to decrease, and rents have continued to rise for various reasons. First, the city itself has experienced strong growth, and has been named one of the best towns in America to do business several times in the last few years. Secondly, residents from the Sacramento area have found Yuba City, with its lack of traffic, close proximity, and affordable rents a welcome alternative to move north. Third, the Paradise Fire led to more residents looking for a new home and found Yuba City welcoming.

In today's market, it can be very difficult to find quality assets. Forbes provides the buyer the opportunity to procure a well-maintained asset, with strong upside in rents, and the ability to create a seven CAP building through management alone. All tours must be scheduled through the listing agent.

Investment Highlights

  • Great Unit Make up
  • Strong Location - Walking Distance to Shopping and Restaurants
  • Rents are Far Below Market
  • 100 Percent Rents Receivable in April 2020

Exclusively Listed By

Listing Price: $620,000

Cap Rate
5.60%
Number of Units
6
GRM
10.00
Occupancy
97.00%
Price/Unit
$103,333
Price/Gross SF
$165.33
Gross SF
3,750

Investment Highlights

  • Great Unit Make up
  • Strong Location - Walking Distance to Shopping and Restaurants
  • Rents are Far Below Market
  • 100 Percent Rents Receivable in April 2020

Investment Overview

Marcus & Millichap is proud to present the Forbes Apartments. 536 Forbes Avenue presents the buyer with an opportunity to purchase a very solid asset with strong upside potential in these uncertain times. The property has a strong tenant base, 100 percent of the rents were paid in April 2020. The subject property is a six-unit apartment complex adjacent to Downtown Yuba City. Built in 1977, the property consists of five two-bedroom/one-bathroom units, and one three-bedroom/one-bathroom unit. The building has been well maintained and there is very little maintenance needed. There is ample parking, on-site laundry facilities and spacious well-appointed interiors.

Forbes lies in a great neighborhood, and is within walking distance of many restaurants, breweries and shopping, with Downtown Yuba City a mere block away. The subject property is close to transportation, Highway 99 and 70. Highway 99 takes residents to Downtown Sacramento in a matter of 45 minutes. Highway 70 takes residents to Beale Air Force Base and Roseville in quick succession as well. Thus, residents at the property have numerous choices for employment, both local and out of town with easy access.

Yuba City has been one of the best apartment markets in California for the past several years. Vacancy has continued to decrease, and rents have continued to rise for various reasons. First, the city itself has experienced strong growth, and has been named one of the best towns in America to do business several times in the last few years. Secondly, residents from the Sacramento area have found Yuba City, with its lack of traffic, close proximity, and affordable rents a welcome alternative to move north. Third, the Paradise Fire led to more residents looking for a new home and found Yuba City welcoming.

In today's market, it can be very difficult to find quality assets. Forbes provides the buyer the opportunity to procure a well-maintained asset, with strong upside in rents, and the ability to create a seven CAP building through management alone. All tours must be scheduled through the listing agent.

Exclusively Listed By

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