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Meadowbrook Apartments (Affordable Housing) 115 Samoa Blvd 120 Unit Apartment Building $11,250,000 ($93,750/Unit) Arcata, CA 95521
INVESTMENT HIGHLIGHTS
- Desirable Location: Situated in the heart of Arcata, CA, with close proximity to Cal Poly Humboldt University, shopping, dining, and rec facilities.
- Excellent Long-term Value: Less Than $100K Per Unit Pricing
- Strong Market Fundamentals: Arcata’s growing population and limited multifamily housing supply ensure consistent rental demand.
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to present Meadowbrook & Brookside Apartments, two adjoining complexes comprised of 120 multifamily units strategically located at 113, 115, 117, 119 Samoa Blvd in Arcata, CA. eadowbrook, comprised of 81 units, has 80 of its 81 units encumbered by a regulatory agreement from an HCD CHRP loan it received. This loan balance is approximately $4,500,000 and will be assumed by the buyer. The list price for Meadowbrook is $4,850,000 (~$350K above the debt). Further, Meadowbrook has a
cash-flow limitation which limits its NOI to approximately $30,400 for the Meadowbrook portion. Brookside, comprised of 39 units, is a market rate property and is not encumbered by any regulatory agreements. The list price for Brookside is $6,400,000. Constructed in various phases between 1973 and 2004, the properties boasts a blend of modern and vintage units. The properties spans seven contiguous parcels and offers an attractive unit mix of 1 to 4-bedroom units catering to a diverse tenant base.
Arcata, nestled in Humboldt County, is renowned for its scenic beauty, vibrant arts scene, and proximity to key employment and education hubs, including Cal Poly Humboldt University. The property benefits from its central location, offering easy access to downtown Arcata, local shops, restaurants, and the Arcata Marsh & Wildlife Sanctuary. This prime location ensures a steady rental demand, supported by the region's growing economy and limited housing supply.
Meadbrook & Brookside is located in the Sunny Brae suburb region of Arcata, CA. To the east, hiking trails wind through towering redwoods and Douglas firs, and to the west, coastal wetlands extend out towards the misty waters of Arcata Bay. Sunny Brae offers a blend of suburban tranquility, convenient amenities, and a strong sense of community, making it a desirable place to live in Arcata.
*** Property data here for # of buildings, unit mix, and square footage will be updated soon... Please contact Broker for full details and any questions.
cash-flow limitation which limits its NOI to approximately $30,400 for the Meadowbrook portion. Brookside, comprised of 39 units, is a market rate property and is not encumbered by any regulatory agreements. The list price for Brookside is $6,400,000. Constructed in various phases between 1973 and 2004, the properties boasts a blend of modern and vintage units. The properties spans seven contiguous parcels and offers an attractive unit mix of 1 to 4-bedroom units catering to a diverse tenant base.
Arcata, nestled in Humboldt County, is renowned for its scenic beauty, vibrant arts scene, and proximity to key employment and education hubs, including Cal Poly Humboldt University. The property benefits from its central location, offering easy access to downtown Arcata, local shops, restaurants, and the Arcata Marsh & Wildlife Sanctuary. This prime location ensures a steady rental demand, supported by the region's growing economy and limited housing supply.
Meadbrook & Brookside is located in the Sunny Brae suburb region of Arcata, CA. To the east, hiking trails wind through towering redwoods and Douglas firs, and to the west, coastal wetlands extend out towards the misty waters of Arcata Bay. Sunny Brae offers a blend of suburban tranquility, convenient amenities, and a strong sense of community, making it a desirable place to live in Arcata.
*** Property data here for # of buildings, unit mix, and square footage will be updated soon... Please contact Broker for full details and any questions.
DATA ROOM Click Here to Access
PROPERTY FACTS
| Price | $11,250,000 | Building Class | C |
| Price Per Unit | $93,750 | Lot Size | 7.63 AC |
| Sale Type | Investment | Building Size | 71,240 SF |
| No. Units | 120 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1973 |
| Apartment Style | Garden | ||
| Zoning | R-MH | ||
| Price | $11,250,000 |
| Price Per Unit | $93,750 |
| Sale Type | Investment |
| No. Units | 120 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 7.63 AC |
| Building Size | 71,240 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1973 |
| Zoning | R-MH |
AMENITIES
UNIT AMENITIES
- Balcony
- Vaulted Ceiling
- Carpet
- Patio
- Smoke Free
SITE AMENITIES
- Controlled Access
- Laundry Facilities
- Trash Pickup - Door to Door
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Bike Score®
Very Bikeable (76)
PROPERTY TAXES
| Parcel Number | 501-042-021-000 | Improvements Assessment | $2,385,971 |
| Land Assessment | $671,579 | Total Assessment | $3,057,550 |
PROPERTY TAXES
Parcel Number
501-042-021-000
Land Assessment
$671,579
Improvements Assessment
$2,385,971
Total Assessment
$3,057,550
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Meadowbrook Apartments (Affordable Housing) | 115 Samoa Blvd
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