This Multifamily Property is Off-Market.

1420 Ramirez St.
Marysville, CA 95901 ·

26 Units · Multifamily For Sale

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Wonderland Apartments

Price N/A Cap Rate 5.87%
No. Units 26 Gross Rent Multiplier 8.17
Building Size 20,064 SF No. Stories 2
Property Type Multifamily Year Built 1968
Property Sub-type Garden/Low-Rise Lot Size 38,400 SF
Property Use Type Investment APN / Parcel ID 009-155-013
Commission Split 2% Parking Ratio 1.27 / 1,000 SF
Listing ID: 19839109 Date Created: 06/20/2016 Last Updated: 11/08/2016

Description

The property is comprised of 6 buildings with 8-1Br/1Ba 564 sf units and 18-2Br/1Br 864 sf. units. Most of the units have ceiling fans, garbage disposals, range-ovens and wall heat and air conditioning. There are 33 covered parking spaces, mature landscaping, and a swimming pool. The current ownership has improved the unit interiors, and has added new appliances, carpeting and flooring throughout many of the units. The property has great intrinsic value and will afford the new owner ample opportunity to continually add value and increase the rents, which are currently low by market standards for similar caliber units in the area. Great investment opportunity

Marysville East is a 26-unit bread and butter apartment complex located in Marysville, California, Yuba County; the property is located in an older, established residential neighborhood which is minutes from the downtown Marysville shopping district, highway 20 and highway 70. Sutter County is the sister city to Marysville, and is located less than half a mile away. The highway 70 corridor, the main north south artery into the area is currently being engineered to accommodate 2 additional lanes of traffic, which will afford commuters into Sacramento easier access.

Highlights

  • Excellent unit mix, 70% 2-Bedrooms
  • Carports, mature landscaping
  • Swimming pool
  • Individually metered units for gas and electric
  • Strong rental demand, Very Nice looking property,
  • Proforma CAP 7.73% Proforma GRM 6.9

Research

1420 Ramirez St., Marysville, CA 95901 (Yuba County)

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