153 Kenmass Ave 9 Unit Apartment Building $1,300,000 ($144,444/Unit) 5.70% Cap Rate Auburn, CA 95603

This nine-unit multifamily property offers investors the opportunity to acquire a well-maintained and stabilized asset in Auburn. The property features a unit mix primarily composed of studio residences, complemented by two one-bedroom units averaging approximately 472 square feet. This configuration appeals to a broad range of renters seeking efficient and affordable housing options, supporting consistent occupancy and long-term tenant demand.
Current ownership has completed recent property improvements that contribute to the asset's overall condition and operational stability. The property's maintained appearance and ongoing stewardship help minimize near-term capital requirements while providing a solid foundation for future ownership. The combination of stable tenancy and established operations creates an attractive investment profile for buyers seeking dependable cash flow.
Located in Auburn, the property benefits from access to local employment centers, retail services, dining establishments, and regional transportation routes. The area's residential appeal and continued demand for attainable rental housing support the property's positioning within the local multifamily market. Its mix of smaller-format units provides flexibility in serving a diverse tenant base while helping maintain broad market appeal.
The asset offers stable in-place income with the potential for future revenue growth through continued management and market-driven rent adjustments. With a desirable unit mix, recent improvements, and a history of ongoing maintenance, the property presents an opportunity for both first-time and experienced multifamily investors seeking a manageable asset with income stability and long-term upside potential.