This Multifamily Property is Off-Market.

600 Cherry Lane/430 N Mill Street
Tehachapi, CA 93561 ·

153 Units · Multifamily For Sale

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Tehachapi Portfolio

Price N/A Cap Rate 7.60%
No. Units 153 Gross Rent Multiplier 6.60
Building Size 112,160 SF Occupancy 95%
Property Type Multifamily No. Stories 2
Property Sub-type Garden/Low-Rise Year Built 1987
Property Use Type Investment Lot Size 13.08 SF
Commission Split 1.5%
Listing ID: 16948804 Date Created: 12/13/2010 Last Updated: 02/05/2011

Description

The Sierra Vista Apartments are a 56 unit 2 & 3 bedroom apartment community situated on a low density 5 acre parcel. The offering includes an additional 5 acre parcel immediately adjacent and behind the subject. Spanish style architecture including pitched Spanish tile roofs emphasizes the motif of Sierra Vista. Each unit has a private patio and/or balcony. The entire property is security gated with keypad access. Sierra Vista is individully metered for gas and electricity. Parking is a combination of carport and open on-site spaces. Additional amenities include a card operated laundry facility, seperate manager's office and separate maintenance facility.

The Orchard Apartments is a 97 unit 1, 2, & 3 bedroom apartment community situated on a low density 8.1 acre parcel. Single story construction adds to the desirability of these units. Each unit has a private, enclosed "back yard" area. Roofs are Pitched with a comp shingle. The Orchard is individually metered for gas and electricity. Parking is a combination of carport and open on-site spaces. Additional amenities include a card operated laundry facility, seperate manager's office and seperate maintenance facility.

Tehachapi, California is quickly becoming known as the the Renewable Energy Capital of the world.

Highlights

  • Portfolio offering 153 units of 1, 2 & 3 Br units
  • Seller has additional 64 unit property, also in Tehachapi, for total portfolio of 217 units
  • Recent job growth from renewable energy industry has contributed to low vacancy factors

Research

600 Cherry Lane/430 N Mill Street, Tehachapi, CA 93561 (Kern County)

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