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Multifamily

Manteca Golf and Tennis Villas

367 N Union Rd, Manteca, CA 95337

Listing Price: $15,600,000

Cap Rate
5.60%
Number of Units
56
GRM
10.97
Occupancy
97.0%
Price/Unit
$278,571
Price/Gross SF
$345.31
Gross SF
45,177

Investment Overview

Marcus & Millichap is pleased to present Manteca Golf and Tennis Villas located in Manteca, CA. Built in 1985, the complex is 56 units totaling approximately 45,177 square feet on a 2.24 acre lot. The building has a very favorable unit mix: (24) one bedroom/ one-bathroom units that are approximately 700 square feet and (31) two bedroom/one-bathroom units that are approximately 888 square feet. All of the interiors of the units have been renovated with vinyl plank flooring, granite countertops, black or stainless-steel appliances, LED lighting, etc. The owners put in stacked washer/dryer hookups in the one bedrooms and side-by-side washer and dryer hookups in the two bedrooms. There is also a laundry income for additional income. All of the units have vaulted ceilings and large walk-in closets. Each unit is separately metered for gas and electric and the owners have RUBS in place to help with utilities. Manteca Golf and Tennis Villas is located in a great location on Union Road in Manteca. Next door to the property is the Manteca Park Golf Course and Tennis courts. The property is around many restaurants, shopping and entertainment. The property is 1.5 miles from The Promenade Shops at Orchard Valley ( Bass Pro Shop, JC Penney, Valley Fitness, Banana Republic, etc.) The Great Wolf Lodge is approximately 2.5 miles from Manteca Golf and Tennis Villas. The subject property is around many schools: Stella Brockman Elementary (1.1 miles) and Sierra High School (1.9 miles). Priced at a 5.60% cap rate and 11.94 GRM on current income, the subject property represents a leverage opportunity to continue to increase rents yearly, push to market rents on turnover without having to spend capital on the interiors.

Investment Highlights

  • Favorable Unit Mix: (24) one-bedroom/one-bathroom and (31) two-bedroom/one-bathroom units
  • Turnkey Asset
  • 100% of the Interiors Have New Vinyl Plank Flooring, Granite Countertops, LED Lighting and Black or Stainless Steel Appliances.
  • Washer and Dryer Hookups for Each Unit
  • 100% Collections
  • Attractively Priced at a 5.60% Cap Rate on Current Operations/6.74% On Proforma.
  • Located in a Very Strong Rental Market
  • Located Next Door to Tennis Courts and Manteca Park Golf Course

Exclusively Listed By

Financing By

Multifamily

Manteca Golf and Tennis Villas

Listing Price: $15,600,000

Cap Rate
5.60%
Number of Units
56
GRM
10.97
Occupancy
97.0%
Price/Unit
$278,571
Price/Gross SF
$345.31
Gross SF
45,177

Investment Highlights

  • Favorable Unit Mix: (24) one-bedroom/one-bathroom and (31) two-bedroom/one-bathroom units
  • Turnkey Asset
  • 100% of the Interiors Have New Vinyl Plank Flooring, Granite Countertops, LED Lighting and Black or Stainless Steel Appliances.
  • Washer and Dryer Hookups for Each Unit
  • 100% Collections
  • Attractively Priced at a 5.60% Cap Rate on Current Operations/6.74% On Proforma.
  • Located in a Very Strong Rental Market
  • Located Next Door to Tennis Courts and Manteca Park Golf Course

Investment Overview

Marcus & Millichap is pleased to present Manteca Golf and Tennis Villas located in Manteca, CA. Built in 1985, the complex is 56 units totaling approximately 45,177 square feet on a 2.24 acre lot. The building has a very favorable unit mix: (24) one bedroom/ one-bathroom units that are approximately 700 square feet and (31) two bedroom/one-bathroom units that are approximately 888 square feet. All of the interiors of the units have been renovated with vinyl plank flooring, granite countertops, black or stainless-steel appliances, LED lighting, etc. The owners put in stacked washer/dryer hookups in the one bedrooms and side-by-side washer and dryer hookups in the two bedrooms. There is also a laundry income for additional income. All of the units have vaulted ceilings and large walk-in closets. Each unit is separately metered for gas and electric and the owners have RUBS in place to help with utilities. Manteca Golf and Tennis Villas is located in a great location on Union Road in Manteca. Next door to the property is the Manteca Park Golf Course and Tennis courts. The property is around many restaurants, shopping and entertainment. The property is 1.5 miles from The Promenade Shops at Orchard Valley ( Bass Pro Shop, JC Penney, Valley Fitness, Banana Republic, etc.) The Great Wolf Lodge is approximately 2.5 miles from Manteca Golf and Tennis Villas. The subject property is around many schools: Stella Brockman Elementary (1.1 miles) and Sierra High School (1.9 miles). Priced at a 5.60% cap rate and 11.94 GRM on current income, the subject property represents a leverage opportunity to continue to increase rents yearly, push to market rents on turnover without having to spend capital on the interiors.

Exclusively Listed By

Financing By

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