Multifamily

322 Pleasant Street Townhouses

322 Pleasant St, Grass Valley, CA 95945

Listing Price: $1,150,000

Cap Rate
5.26%
Number of Units
7
GRM
11.80
Occupancy
97.0%
Price/Unit
$164,286
Price/Gross SF
$182.54
Gross SF
6,300

Investment Overview

Marcus & Millichap is pleased to present 322 Pleasant Street Townhouses in Grass Valley, California. The property consists of two garden-style buildings which are two stories in height and were constructed in 1987. The unit mix is comprised of seven two-bedroom/one-and-a-half-bathroom townhouse style units at approximately 830 square feet each. The building features a pitched roof, wood siding, dual pane windows, fenced back deck areas, and attached single-car garages. Unit interior features central heat and air, dishwashers, storage closets, walk-in closets, stackable washer and dryers, and vaulted downstairs hallway ceilings.

The apartment community is a short 10-minute walk from historic downtown Grass Valley. Downtown Grass Valley offers a variety of eating and shopping opportunities in the various restaurants, coffee, candy, clothing, home improvement, and art shops. Additionally, the property is in a residential neighborhood within walking distance to multiple schools and parks. The location also offers its residents a commuter's paradise due to its location which is just 57 miles to Sacramento, 69 miles to Lake Tahoe, and 34 miles to Marysville. Additionally, tenants benefit from close proximity to various outdoor activities including scenic hiking trails, river activities, snow sports, and Lake Tahoe.

This offering provides an investor with the opportunity to acquire a building with a highly desirable unit mix and floor plan, in a market with strong rental demand. With steady yearly rent increases and the low interest rate environment, an investor has the ability to lock in a long-term low interest rate enhancing the buildings cash flow for years to come.

DRIVE BY ONLY. ALL PROPERTY SHOWINGS ARE SUBJECT TO SELLER ACCEPTED OFFER ONLY. PLEASE CONSULT MARCUS & MILLICHAP LISTING AGENT FOR MORE DETAILS. PLEASE DO NOT DISTURB TENANTS.

Investment Highlights

  • All 2 Bedroom 1.5 Bath Townhouse Style Units with Attached Garages
  • All Units have Stackable Washer/Dryer and Walk-In Closets
  • Pitched Composite Roof with Dual Pane Windows, Central Heat and Air
  • Priced Below Replacement Value$182.54 Per Square Foot
  • Ten-Minute Walk to Historic Downtown Grass Valley
  • All Units Individually Metered

Exclusively Listed By

Multifamily

322 Pleasant Street Townhouses

Listing Price: $1,150,000

Cap Rate
5.26%
Number of Units
7
GRM
11.80
Occupancy
97.0%
Price/Unit
$164,286
Price/Gross SF
$182.54
Gross SF
6,300

Investment Highlights

  • All 2 Bedroom 1.5 Bath Townhouse Style Units with Attached Garages
  • All Units have Stackable Washer/Dryer and Walk-In Closets
  • Pitched Composite Roof with Dual Pane Windows, Central Heat and Air
  • Priced Below Replacement Value$182.54 Per Square Foot
  • Ten-Minute Walk to Historic Downtown Grass Valley
  • All Units Individually Metered

Investment Overview

Marcus & Millichap is pleased to present 322 Pleasant Street Townhouses in Grass Valley, California. The property consists of two garden-style buildings which are two stories in height and were constructed in 1987. The unit mix is comprised of seven two-bedroom/one-and-a-half-bathroom townhouse style units at approximately 830 square feet each. The building features a pitched roof, wood siding, dual pane windows, fenced back deck areas, and attached single-car garages. Unit interior features central heat and air, dishwashers, storage closets, walk-in closets, stackable washer and dryers, and vaulted downstairs hallway ceilings.

The apartment community is a short 10-minute walk from historic downtown Grass Valley. Downtown Grass Valley offers a variety of eating and shopping opportunities in the various restaurants, coffee, candy, clothing, home improvement, and art shops. Additionally, the property is in a residential neighborhood within walking distance to multiple schools and parks. The location also offers its residents a commuter's paradise due to its location which is just 57 miles to Sacramento, 69 miles to Lake Tahoe, and 34 miles to Marysville. Additionally, tenants benefit from close proximity to various outdoor activities including scenic hiking trails, river activities, snow sports, and Lake Tahoe.

This offering provides an investor with the opportunity to acquire a building with a highly desirable unit mix and floor plan, in a market with strong rental demand. With steady yearly rent increases and the low interest rate environment, an investor has the ability to lock in a long-term low interest rate enhancing the buildings cash flow for years to come.

DRIVE BY ONLY. ALL PROPERTY SHOWINGS ARE SUBJECT TO SELLER ACCEPTED OFFER ONLY. PLEASE CONSULT MARCUS & MILLICHAP LISTING AGENT FOR MORE DETAILS. PLEASE DO NOT DISTURB TENANTS.

Exclusively Listed By

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