Historical Multifamily Sale Listing - Tehachapi Portfolio

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Tehachapi Portfolio

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

N/A

153 Units | Multifamily

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Multifamily Property - Off Market

Price:
N/A
No. Units:
153
Building Size:
112,160 SF
Property Type:
Multifamily
Property Sub-type:
Garden/Low-Rise
Property Use Type:
Investment
Commission Split:
1.5%
Cap Rate:
7.60%
Gross Rent Multiplier:
6.60
Occupancy:
95%
No. Stories:
2
Year Built:
1987
Lot Size:
13.08 SF
Listing ID
16948804
Last Updated
over 1 year ago

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

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.

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

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