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1036 N Olive Ave 8 Unit Apartment Building $1,450,000 ($181,250/Unit) 6.27% Cap Rate Turlock, CA 95380
EXECUTIVE SUMMARY
Lee & Associates is pleased to present 1036 N Olive Avenue in Turlock, CA. This 8-unit multifamily property offers immediate rental income and long-term potential. The property consists of seven (7) 1-bed/1-bath units and one (1) 2-bed/1-bath unit, spread across four (4) separate buildings on over half an acre.
Six of the eight units have been recently renovated, including updated flooring, kitchens, and bathrooms, providing a solid foundation for steady cash flow. Each unit is separately metered for gas and electricity, includes washer/dryer hookups, and offers private yard space, a rare amenity in multifamily properties. Parking is convenient, with carports for most units and garage/storage space for the 2-bedroom unit.
The property is situated in a residential neighborhood with easy access to local conveniences. Tenants enjoy proximity to California State University, Stanislaus, Donnelly Park, shopping centers, schools, and Turlock’s dining and retail amenities, with straightforward access to Highway 99 for connections throughout the Central Valley.
This property represents a strong investment opportunity with six updated units providing reliable in-place cash flow, while the two remaining units offer the potential for additional improvements and increased value over time.
Please contact listing brokers for a complete marketing package:
Tyler Clark | (925) 239-1424 | tclark@lee-associates.com | LIC# 01900784
Alex Peck | (925) 239-1414 | apeck@lee-associates.com | LIC# 01981426
Six of the eight units have been recently renovated, including updated flooring, kitchens, and bathrooms, providing a solid foundation for steady cash flow. Each unit is separately metered for gas and electricity, includes washer/dryer hookups, and offers private yard space, a rare amenity in multifamily properties. Parking is convenient, with carports for most units and garage/storage space for the 2-bedroom unit.
The property is situated in a residential neighborhood with easy access to local conveniences. Tenants enjoy proximity to California State University, Stanislaus, Donnelly Park, shopping centers, schools, and Turlock’s dining and retail amenities, with straightforward access to Highway 99 for connections throughout the Central Valley.
This property represents a strong investment opportunity with six updated units providing reliable in-place cash flow, while the two remaining units offer the potential for additional improvements and increased value over time.
Please contact listing brokers for a complete marketing package:
Tyler Clark | (925) 239-1424 | tclark@lee-associates.com | LIC# 01900784
Alex Peck | (925) 239-1414 | apeck@lee-associates.com | LIC# 01981426
PROPERTY FACTS
| Price | $1,450,000 | Property Subtype | Apartment |
| Price Per Unit | $181,250 | Apartment Style | Garden |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 6.27% | Lot Size | 0.56 AC |
| Gross Rent Multiplier | 10.83 | Building Size | 4,067 SF |
| No. Units | 8 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1959/2025 |
| Price | $1,450,000 |
| Price Per Unit | $181,250 |
| Sale Type | Investment |
| Cap Rate | 6.27% |
| Gross Rent Multiplier | 10.83 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.56 AC |
| Building Size | 4,067 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1959/2025 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 1 | - | - |
| 1+1 | 7 | - | - |
1 1
Walk Score®
Very Walkable (71)
PROPERTY TAXES
| Parcel Number | 042-25-02 | Improvements Assessment | $763,114 |
| Land Assessment | $129,890 | Total Assessment | $893,004 |
PROPERTY TAXES
Parcel Number
042-25-02
Land Assessment
$129,890
Improvements Assessment
$763,114
Total Assessment
$893,004
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1036 N Olive Ave
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