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Multifamily

Oakbridge Condominiums

2495 N 11th Ave, Hanford, CA 93230

Listing Price: $5,200,000

Cap Rate
4.52%
Number of Units
24
GRM
12.14
Occupancy
94.9%
Price/Unit
$216,667
Price/Gross SF
$130.24
Gross SF
39,927

Investment Overview

Marcus & Millichap is pleased to present Oakbridge Condominiums located in Hanford, CA. Oakbridge is (24) individually mapped townhouse units that consists of (14) two-bedroom/two-and-a-half bathroom townhouse style units that are approximately 1,593 square feet, (4) three-bedroom/two-and-a-half bathroom townhouse style units that are approximately 1,648 square feet and (6) three-bedroom/three-bathroom townhouse style units that are approximately 1,840 square feet. The property was built in 1988 and sits on 2.32 acres. Each unit comes with washer/dryer hookups and a (2) car attached garage. The property is separately metered for gas and electric.

Oakbridge is located on the corner of N. 11th and W. Fargo Ave in Hanford. The property is surrounded by residential homes and is one of the best locations in Hanford. The property is close to many schools: Monroe Elementary (0.9 miles), Woodrow Wilson Junior High School (1.6 miles) and Hanford High School (1.6 miles). Oakbridge is less than two miles from the famous Hanford Mall (Kohls, JCPenney and many restaurants and other shops).

Hanford is a city east of Visalia in the vast California Central Valley. The Central Valley is bounded by four main population centers Bakersfield, Fresno, Sacramento and Redding with Fresno being the closest metropolitan area to Hanford, approximately 30 miles north. As the county seat, Hanford is an important commercial and cultural center for Kings County due to its central location at the intersection of Highway 198 and Highway 43. Hanford had a population of 55,075 with an average growth rate of 2 to 3 percent per year.

Priced at a 4.52% cap rate on current operations, this investment gives investors an opportunity to continue to increase rents on turnovers and increase cashflow.

Investment Highlights

  • (14) Two-Bedroom/Two-and-a Half Bathroom Townhouse Style units, (4) Three-Bedroom/Two
  • Large Spacious Units
  • Attractively Priced at 4.52% Cap Rate on Current Operations/5.90% Cap Rate on Proform
  • Washer and Dryer Hookups in the Units and Attached Two-Car Garage.
  • Tile Roofs
  • Gated and Located On a Hard Corner

Exclusively Listed By

Multifamily

Oakbridge Condominiums

Listing Price: $5,200,000

Cap Rate
4.52%
Number of Units
24
GRM
12.14
Occupancy
94.9%
Price/Unit
$216,667
Price/Gross SF
$130.24
Gross SF
39,927

Investment Highlights

  • (14) Two-Bedroom/Two-and-a Half Bathroom Townhouse Style units, (4) Three-Bedroom/Two
  • Large Spacious Units
  • Attractively Priced at 4.52% Cap Rate on Current Operations/5.90% Cap Rate on Proform
  • Washer and Dryer Hookups in the Units and Attached Two-Car Garage.
  • Tile Roofs
  • Gated and Located On a Hard Corner

Investment Overview

Marcus & Millichap is pleased to present Oakbridge Condominiums located in Hanford, CA. Oakbridge is (24) individually mapped townhouse units that consists of (14) two-bedroom/two-and-a-half bathroom townhouse style units that are approximately 1,593 square feet, (4) three-bedroom/two-and-a-half bathroom townhouse style units that are approximately 1,648 square feet and (6) three-bedroom/three-bathroom townhouse style units that are approximately 1,840 square feet. The property was built in 1988 and sits on 2.32 acres. Each unit comes with washer/dryer hookups and a (2) car attached garage. The property is separately metered for gas and electric.

Oakbridge is located on the corner of N. 11th and W. Fargo Ave in Hanford. The property is surrounded by residential homes and is one of the best locations in Hanford. The property is close to many schools: Monroe Elementary (0.9 miles), Woodrow Wilson Junior High School (1.6 miles) and Hanford High School (1.6 miles). Oakbridge is less than two miles from the famous Hanford Mall (Kohls, JCPenney and many restaurants and other shops).

Hanford is a city east of Visalia in the vast California Central Valley. The Central Valley is bounded by four main population centers Bakersfield, Fresno, Sacramento and Redding with Fresno being the closest metropolitan area to Hanford, approximately 30 miles north. As the county seat, Hanford is an important commercial and cultural center for Kings County due to its central location at the intersection of Highway 198 and Highway 43. Hanford had a population of 55,075 with an average growth rate of 2 to 3 percent per year.

Priced at a 4.52% cap rate on current operations, this investment gives investors an opportunity to continue to increase rents on turnovers and increase cashflow.

Exclusively Listed By

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