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Multifamily

Riverwoods Condominiums

801 & 717 N Granada Dr, Madera, CA 93637

Listing Price: $18,500,000

Cap Rate
4.09%
Number of Units
109
GRM
13.75
Occupancy
96.2%
Price/Unit
$169,725
Price/Gross SF
$138.66
Gross SF
133,416

Investment Overview

Marcus & Millichap is pleased to present Riverwoods in Madera, CA. Built in 1987, the complex consists of (109) individually mapped townhouse units. The property sits on 3.29 acres. The property consists of (109) two-bedroom/one-and-a-half bathroom townhouse style units that are approximately 1208 square feet and 1224 square feet. The units are separately metered for gas and electric. The subject property attracts tenants because of its large spacious units and fantastic location. Each unit has washer/dryer hookups and their own large private enclosed patios. The interiors have carpet and vinyl plank flooring in the kitchens and bath.

Riverwoods is conveniently located Granada Drive and easy access on and off the Highway. Madera Community Hospital is about three miles from the property and there are many retail stores in the areas as well: Food 4 Less (1.2 miles), Madera Marketplace (1.6 miles) with tenants such as Walmart, Chase Bank and Goodwill. There are many schools near the subject property: John Adams Elementary (1.2 miles), Thomas Jefferson Middle School (1.3 miles) and Madera High (2.1 miles). Madera County is one fastest growing counties in the Western United States.

Priced at a 4.95% cap rate and 11.54 GRM on current income, the subject property represents a value-add opportunity through upgrading interior and increasing rents on turnover.

Investment Highlights

  • 100% Two-Bedroom/One-and-a-Half-Bathroom Townhouse Style Units.
  • Washer and Dryer Hookups in Each Unit
  • Located in a Very Strong Rental Market
  • Rents are Below Market
  • 3% Vacancy Factor in the Trailing 12 Months
  • Large Spacious Units

Exclusively Listed By

Listing Price: $18,500,000

Cap Rate
4.09%
Number of Units
109
GRM
13.75
Occupancy
96.2%
Price/Unit
$169,725
Price/Gross SF
$138.66
Gross SF
133,416

Investment Highlights

  • 100% Two-Bedroom/One-and-a-Half-Bathroom Townhouse Style Units.
  • Washer and Dryer Hookups in Each Unit
  • Located in a Very Strong Rental Market
  • Rents are Below Market
  • 3% Vacancy Factor in the Trailing 12 Months
  • Large Spacious Units

Investment Overview

Marcus & Millichap is pleased to present Riverwoods in Madera, CA. Built in 1987, the complex consists of (109) individually mapped townhouse units. The property sits on 3.29 acres. The property consists of (109) two-bedroom/one-and-a-half bathroom townhouse style units that are approximately 1208 square feet and 1224 square feet. The units are separately metered for gas and electric. The subject property attracts tenants because of its large spacious units and fantastic location. Each unit has washer/dryer hookups and their own large private enclosed patios. The interiors have carpet and vinyl plank flooring in the kitchens and bath.

Riverwoods is conveniently located Granada Drive and easy access on and off the Highway. Madera Community Hospital is about three miles from the property and there are many retail stores in the areas as well: Food 4 Less (1.2 miles), Madera Marketplace (1.6 miles) with tenants such as Walmart, Chase Bank and Goodwill. There are many schools near the subject property: John Adams Elementary (1.2 miles), Thomas Jefferson Middle School (1.3 miles) and Madera High (2.1 miles). Madera County is one fastest growing counties in the Western United States.

Priced at a 4.95% cap rate and 11.54 GRM on current income, the subject property represents a value-add opportunity through upgrading interior and increasing rents on turnover.

Exclusively Listed By

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