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The Bee Apartments 1002 Geer Rd 17 Unit Apartment Building $2,995,000 ($176,176/Unit) 7.32% Cap Rate Turlock, CA 95380
Investment Highlights
- Studios to 4-bedrooms, with over 50% large 2-bedroom townhome units ideal for longterm renters.
- Recently updated property with strong in-place income and limited near-term capital needs.
- Attractive 7.32% cap rate with strong in-place income and upside potential.
- Located on main north south thoroughfare, minutes from Downtown Turlock with easy access to shopping, dining, and major roads.
Executive Summary
The Bee Apartments offer a 17-unit multifamily investment located at 1002 Geer Road in Turlock. The property features a wide unit mix, ranging from a 260 SF Studio to a spacious 4-BD, 2.5- BA unit (1,669 SF), with the majority made up of large 1,065 SF 2-BD, 1.5-BA Townhomes. The property has been recently renovated, giving investors a clean, stabilized asset with strong in-place income and limited near-term capital needs. The updated condition helps drive tenant demand while supporting long-term retention.
Located just minutes from Downtown Turlock, residents enjoy easy access to local dining, retail, and major drivers like California State University, Stanislaus and Highway 99. Offered at $2,995,000, The Bee Apartments provide a solid 7.32% cap rate in a steady, high-demand Central Valley rental market.
Located just minutes from Downtown Turlock, residents enjoy easy access to local dining, retail, and major drivers like California State University, Stanislaus and Highway 99. Offered at $2,995,000, The Bee Apartments provide a solid 7.32% cap rate in a steady, high-demand Central Valley rental market.
Property Facts
| Price | $2,995,000 | Apartment Style | Low-Rise |
| Price Per Unit | $176,176 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.50 AC |
| Cap Rate | 7.32% | Building Size | 14,706 SF |
| Gross Rent Multiplier | 8.8 | No. Stories | 2 |
| No. Units | 17 | Year Built | 1940 |
| Property Type | Multifamily | Parking Ratio | 1.5/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R-3; R-5 | ||
| Price | $2,995,000 |
| Price Per Unit | $176,176 |
| Sale Type | Investment |
| Cap Rate | 7.32% |
| Gross Rent Multiplier | 8.8 |
| No. Units | 17 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.50 AC |
| Building Size | 14,706 SF |
| No. Stories | 2 |
| Year Built | 1940 |
| Parking Ratio | 1.5/1,000 SF |
| Zoning | R-3; R-5 |
Amenities
Site Amenities
- Recycling
- Smoke Free
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | $1,150 | 260 |
| 1+1 | 5 | $1,491 | 512 |
| 2+1.5 | 1 | $1,750 | 632 |
| 2+1.5 | 9 | $1,773 | 1,065 |
| 4+2.5 | 1 | $2,064 | 1,669 |
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Moderately walkable
60/100
Very drivable
80/100
Limited public transit
20/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 042-22-81 | Improvements Assessment | $1,303,889 |
| Land Assessment | $203,099 | Total Assessment | $1,506,988 |
Property Taxes
Parcel Number
042-22-81
Land Assessment
$203,099
Improvements Assessment
$1,303,889
Total Assessment
$1,506,988
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The Bee Apartments | 1002 Geer Rd
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