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Multifamily

1215-1235 Williams

1215 Williams Way, Yuba City, CA 95991

Listing Price: $4,675,000

Cap Rate
4.56%
Number of Units
28
Occupancy
97.0%
Price/Unit
$166,964
Price/Gross SF
$249.09
Gross SF
18,768

Investment Overview

Marcus & Millichap is pleased to present 1215-1235 Williams Way, a charming 28-unit apartment community located in the growing city of Yuba City, California. The property features a diverse unit mix of studio/one-bathroom, one-bedroom/one-bathroom, and two-bedroom/one-bathroom ?oorplans. The property offers a unique value -add opportunity that's been proven by ownership in one of California's hottest growth markets. Roughly 70 percent of the unit interiors have been upgraded in the last couple of years. The next owner can follow the proven renovation spec and recapture the nearly 11 percent loss to lease on the May 2022 rent roll. Residents enjoy easy access to Feather Downs Shopping Center and the Yuba Sutter Mall, which includes national retailers such as JC Penney, Sears, CVS, Starbucks, Raley’s Supermarket, along with several other shopping and entertainment venues. Yuba City has recently seen local employment growth at YubaSutter Transit, Yuba City College, Beale Air Force Base as well as the expansion of Rideout Memorial Hospital. The recent construction of the Hard Rock Casino at Fire Mountain has brought nearly 800 permanent jobs to the area in recent years. Yuba City is also a 45-minute drive from Sacramento on either Highway 65 or 70, and around two hours from the Greater Bay Area connecting to Interstate 80. 1215-1235 Williams offers a truly unique opportunity to purchase a stable asset with a true value-add component without any major on capital projects. Furthermore, Yuba and Sutter counties are expected to see a huge surge in apartment demand while experiencing virtually zero new housing construction. All tours must be scheduled with the listing agents. Please do not disturb tenants or management.

Investment Highlights

  • Majority of Units Renovated Last Two Years - Proven Upside In Rents
  • Two 14-Unit Parcels - No On-Site Management Requirement - Flexible Disposition Strategy
  • Mix of Studio , One-Bedroom , and Two-Bedroom Units

Exclusively Listed By

Multifamily

1215-1235 Williams

Listing Price: $4,675,000

Cap Rate
4.56%
Number of Units
28
Occupancy
97.0%
Price/Unit
$166,964
Price/Gross SF
$249.09
Gross SF
18,768

Investment Highlights

  • Majority of Units Renovated Last Two Years - Proven Upside In Rents
  • Two 14-Unit Parcels - No On-Site Management Requirement - Flexible Disposition Strategy
  • Mix of Studio , One-Bedroom , and Two-Bedroom Units

Investment Overview

Marcus & Millichap is pleased to present 1215-1235 Williams Way, a charming 28-unit apartment community located in the growing city of Yuba City, California. The property features a diverse unit mix of studio/one-bathroom, one-bedroom/one-bathroom, and two-bedroom/one-bathroom ?oorplans. The property offers a unique value -add opportunity that's been proven by ownership in one of California's hottest growth markets. Roughly 70 percent of the unit interiors have been upgraded in the last couple of years. The next owner can follow the proven renovation spec and recapture the nearly 11 percent loss to lease on the May 2022 rent roll. Residents enjoy easy access to Feather Downs Shopping Center and the Yuba Sutter Mall, which includes national retailers such as JC Penney, Sears, CVS, Starbucks, Raley’s Supermarket, along with several other shopping and entertainment venues. Yuba City has recently seen local employment growth at YubaSutter Transit, Yuba City College, Beale Air Force Base as well as the expansion of Rideout Memorial Hospital. The recent construction of the Hard Rock Casino at Fire Mountain has brought nearly 800 permanent jobs to the area in recent years. Yuba City is also a 45-minute drive from Sacramento on either Highway 65 or 70, and around two hours from the Greater Bay Area connecting to Interstate 80. 1215-1235 Williams offers a truly unique opportunity to purchase a stable asset with a true value-add component without any major on capital projects. Furthermore, Yuba and Sutter counties are expected to see a huge surge in apartment demand while experiencing virtually zero new housing construction. All tours must be scheduled with the listing agents. Please do not disturb tenants or management.

Exclusively Listed By

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