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Multifamily

536 Forbes Ave

536 Forbes Ave, Yuba City, CA 95991

Listing Price: $650,000

Cap Rate
5.94%
Number of Units
6
Occupancy
100.0%
Price/Unit
$108,333
Price/Gross SF
$173.33
Gross SF
3,750

Investment Overview

Marcus & Millichap is proud to present the Forbes Apartments. 536 Forbes 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, and maintained its collections through 2020 and 2021. The subject property is a six-unit apartment complex adjacent to Downtown Yuba City, California. Built in 1977, the property consists of four two-bedroom/one-bath units, one three-bedroom/one-bath unit, and one one-bedroom/one-bath unit. The building has been well maintained with very little maintenance needed. There is ample parking, on-site laundry, 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. It is also close to transportation, Highway 99, and Highway 70. Highway 99 takes residents to downtown Sacramento in 45 minutes, and 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 several reasons. First, the city itself has experienced strong growth, and has been named one of the best towns in America to do business in several times recently. Secondly, residents from the Sacramento area have found Yuba City, with its lack of traffic, close proximity, and cheaper rents a welcome alternative and have moved 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 collections remained strong throughout 2020. Finally, the buyer has a potential to turn the building into a 7.65-percent cap rate by just increasing the rents.

Investment Highlights

  • Great Unit Mix and Strong Location; Walking Distance to Shopping and Restaurants
  • All Rental Income is Current, and Stayed Current in 2020 and 2021 despite COVID Pandemic
  • Big Upside in Rents

Exclusively Listed By

Listing Price: $650,000

Cap Rate
5.94%
Number of Units
6
Occupancy
100.0%
Price/Unit
$108,333
Price/Gross SF
$173.33
Gross SF
3,750

Investment Highlights

  • Great Unit Mix and Strong Location; Walking Distance to Shopping and Restaurants
  • All Rental Income is Current, and Stayed Current in 2020 and 2021 despite COVID Pandemic
  • Big Upside in Rents

Investment Overview

Marcus & Millichap is proud to present the Forbes Apartments. 536 Forbes 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, and maintained its collections through 2020 and 2021. The subject property is a six-unit apartment complex adjacent to Downtown Yuba City, California. Built in 1977, the property consists of four two-bedroom/one-bath units, one three-bedroom/one-bath unit, and one one-bedroom/one-bath unit. The building has been well maintained with very little maintenance needed. There is ample parking, on-site laundry, 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. It is also close to transportation, Highway 99, and Highway 70. Highway 99 takes residents to downtown Sacramento in 45 minutes, and 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 several reasons. First, the city itself has experienced strong growth, and has been named one of the best towns in America to do business in several times recently. Secondly, residents from the Sacramento area have found Yuba City, with its lack of traffic, close proximity, and cheaper rents a welcome alternative and have moved 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 collections remained strong throughout 2020. Finally, the buyer has a potential to turn the building into a 7.65-percent cap rate by just increasing the rents.

Exclusively Listed By

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