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1231-1241 Broadway Ave
Atwater, CA 95301
Stabilized Mixed-Use Asset in Atwater · Retail Property For Sale
Investment Highlights
- Diversified Unit Mix: One ground-floor retail unit and four residential units (three 2BD/1BA and one studio), providing stable mixed-use income stream
- Historic Character with Renovations: Renovated upper-floor units within a historic asset, blending charm with functional income performance.
- Residential RUBS Potential: Opportunity to implement a Ratio Utility Billing System (RUBS) to reduce landlord-paid utility expenses.
Executive Summary
The Creighton Hotel, located at 1241/1231 Broadway Avenue in downtown Atwater, is a beautifully renovated historic mixed-use asset positioned among a vibrant collection of established retail businesses. The upper level features four recently renovated residential units—three 2-bedroom/1-bath units and one studio/1-bath—providing consistent multifamily income, while the ground-floor commercial space is occupied by Furniture One, delivering stable retail tenancy and strong street presence. Situated along a high-visibility corridor within Atwater’s revitalizing downtown district, this property presents investors with a stabilized, income-producing opportunity supported by both residential and commercial cash flow.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
8,000 SF
Building Class
C
Year Built
1920
Price
$1,199,000
Price Per SF
$149.88
Cap Rate
7%
NOI
$83,968
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.53
Lot Size
0.12 AC
Zoning
Community Commercial - Downtown Business District
Property Taxes
| Parcel Number | 002-212-006 | Improvements Assessment | $931,158 |
| Land Assessment | $67,626 | Total Assessment | $998,784 |
Property Taxes
Parcel Number
002-212-006
Land Assessment
$67,626
Improvements Assessment
$931,158
Total Assessment
$998,784
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