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Multifamily

Kelly Apartments

869 Clark Ave, Yuba City, CA 95991

Listing Price: $3,200,000

Cap Rate
4.86%
Number of Units
26
Occupancy
97.0%
Price/Unit
$123,077
Price/Gross SF
$109.65
Gross SF
29,185

Investment Overview

Marcus & Millichap is proud to present the sale of The Kelly Apartments located in Yuba City, California. The Kelly Apartments, built in 1963, offers an attractive 26-unit mix featuring three studios, 10 one-bedroom/one-bathroom, 11 two-bedroom/one-bathroom, and two three-bedroom/one-bathroom units. The property presents a rare opportunity to acquire a value-add asset in the heart of Yuba City and within walking distance to shopping and restaurants. Between 10-30 percent of current rents under market, the offering allows the ability for a huge rental upside for the next owner. Vacancy has been a stable three percent in the last few years proving Yuba City is and will continue to be one of the best small multifamily markets in Northern California. Located along Highway 20 and Highway 99, the local area offers a heavily concentrated and diverse job base, easy access to shopping, restaurants and schools. Yuba City is only 40 minutes from Downtown Sacramento, and 25 minutes from Natomas. As a result, the metro area boasts a population of approximately 168,000. Residents continue to move north in search of affordable housing that is still within reach of good jobs. Furthermore, Yuba City itself has been voted one of the best 10 cities in America to do business several years in a row. The results the past few years have spoken for themselves in the local real estate market. The right buyer will see a unique opportunity to purchase well-placed real estate and benefit from the geographic location Yuba City continues to attract.

Investment Highlights

  • Excellent Location in the Middle of Yuba City with No Apartments on Either Side, Near Schools, Employers, Beale Air Force Base, and Restaurants
  • Strong Rental Upside Opportunity
  • Attractive 26 Unit Mix Featuring Studios, One, Two and Three-Bedroom and One-Bathroom Units
  • Big Value-Add Opportunity With Yuba City Trends Becoming Attractive: Higher Prices, Rents, and Population Size
  • New Roof on One Building; Roof on Building Two is Only Eight Years Old

Exclusively Listed By

Multifamily

Kelly Apartments

Listing Price: $3,200,000

Cap Rate
4.86%
Number of Units
26
Occupancy
97.0%
Price/Unit
$123,077
Price/Gross SF
$109.65
Gross SF
29,185

Investment Highlights

  • Excellent Location in the Middle of Yuba City with No Apartments on Either Side, Near Schools, Employers, Beale Air Force Base, and Restaurants
  • Strong Rental Upside Opportunity
  • Attractive 26 Unit Mix Featuring Studios, One, Two and Three-Bedroom and One-Bathroom Units
  • Big Value-Add Opportunity With Yuba City Trends Becoming Attractive: Higher Prices, Rents, and Population Size
  • New Roof on One Building; Roof on Building Two is Only Eight Years Old

Investment Overview

Marcus & Millichap is proud to present the sale of The Kelly Apartments located in Yuba City, California. The Kelly Apartments, built in 1963, offers an attractive 26-unit mix featuring three studios, 10 one-bedroom/one-bathroom, 11 two-bedroom/one-bathroom, and two three-bedroom/one-bathroom units. The property presents a rare opportunity to acquire a value-add asset in the heart of Yuba City and within walking distance to shopping and restaurants. Between 10-30 percent of current rents under market, the offering allows the ability for a huge rental upside for the next owner. Vacancy has been a stable three percent in the last few years proving Yuba City is and will continue to be one of the best small multifamily markets in Northern California. Located along Highway 20 and Highway 99, the local area offers a heavily concentrated and diverse job base, easy access to shopping, restaurants and schools. Yuba City is only 40 minutes from Downtown Sacramento, and 25 minutes from Natomas. As a result, the metro area boasts a population of approximately 168,000. Residents continue to move north in search of affordable housing that is still within reach of good jobs. Furthermore, Yuba City itself has been voted one of the best 10 cities in America to do business several years in a row. The results the past few years have spoken for themselves in the local real estate market. The right buyer will see a unique opportunity to purchase well-placed real estate and benefit from the geographic location Yuba City continues to attract.

Exclusively Listed By

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