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HeatherWoods 1574 - 1576 Heather Dr 66 Unit Apartment Building $10,500,000 ($159,091/Unit) 5.61% Cap Rate Yuba City, CA 95993
INVESTMENT HIGHLIGHTS
- Excellent North Yuba City location.
- Resident amenity package includes clubhouse, pool, basketball court, tennis court, dog run, exercise area and sauna.
- Two (2) onsite laundry facilities.
- Great unit mix of 1 and 2 bedroom units.
- 97% occupancy rate.
- Sixty Six (66) covered parking spots plus 34 surface parking spots.
EXECUTIVE SUMMARY
HeatherWoods Apartments is a well-maintained, 66-unit garden-style community located in a stable and highly accessible residential pocket of northwest Yuba City. Positioned within the greater Sacramento regional corridor, the property benefits from immediate access to major transportation routes, including Highways 99 and 20. Spanning two contiguous parcels at 1574 and 1576 Heather Drive, HeatherWoods offers an appealing mix of one and two bedroom floorplans, mature landscaping, ample parking, and a cohesive site layout that operates seamlessly as a unified community. Residents of HeatherWoods also enjoy access to an extensive shared amenity package located on two adjacent parcels, in which the property holds a deeded percentage ownership interest. These amenities include an outdoor swimming pool, full-sized basketball court, tennis court, dog-run area, and a renovated clubhouse (in progress) featuring a new fitness center, two indoor saunas, and a spacious community room. The shared amenity parcels are operated through an amenity association, with monthly dues reflected in the property's operating expenses. HeatherWoods presents investors with a rare opportunity to acquire a stabilized, cash-flowing asset with demonstrated performance in a supply-constrained rental market. Efficient and popular unit mix supports broad renter demand and operational stability. Forty (40) 1 bed x 1 bath and Twenty Six (26) 2 bed x 1 bath floorplans. Water, sewer, and garbage are paid by ownership. No ratio billing system (RUBS) in place - immediate upside opportunity.
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$1,168,560
|
$29.21
|
| Other Income |
$34,843
|
$0.87
|
| Vacancy Loss |
$58,428
|
$1.46
|
| Effective Gross Income |
$1,144,975
|
$28.62
|
| Taxes |
$114,450
|
$2.86
|
| Operating Expenses |
$441,860
|
$11.05
|
| Total Expenses |
$556,310
|
$13.91
|
| Net Operating Income |
$588,665
|
$14.72
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $1,168,560 |
| Annual Per SF | $29.21 |
| Other Income | |
|---|---|
| Annual | $34,843 |
| Annual Per SF | $0.87 |
| Vacancy Loss | |
|---|---|
| Annual | $58,428 |
| Annual Per SF | $1.46 |
| Effective Gross Income | |
|---|---|
| Annual | $1,144,975 |
| Annual Per SF | $28.62 |
| Taxes | |
|---|---|
| Annual | $114,450 |
| Annual Per SF | $2.86 |
| Operating Expenses | |
|---|---|
| Annual | $441,860 |
| Annual Per SF | $11.05 |
| Total Expenses | |
|---|---|
| Annual | $556,310 |
| Annual Per SF | $13.91 |
| Net Operating Income | |
|---|---|
| Annual | $588,665 |
| Annual Per SF | $14.72 |
PROPERTY FACTS
| Price | $10,500,000 | Building Class | C |
| Price Per Unit | $159,091 | Lot Size | 2.32 AC |
| Sale Type | Investment | Building Size | 53,073 SF |
| Cap Rate | 5.61% | Average Occupancy | 97% |
| No. Units | 66 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1978 |
| Property Subtype | Apartment | Parking Ratio | 1.88/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | R3 | ||
| Price | $10,500,000 |
| Price Per Unit | $159,091 |
| Sale Type | Investment |
| Cap Rate | 5.61% |
| No. Units | 66 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.32 AC |
| Building Size | 53,073 SF |
| Average Occupancy | 97% |
| No. Stories | 2 |
| Year Built | 1978 |
| Parking Ratio | 1.88/1,000 SF |
| Zoning | R3 |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Storage Space
- Washer/Dryer Hookup
- Heating
- Kitchen
- High Speed Internet Access
- Refrigerator
- Range
- Tub/Shower
- Breakfast Nook
- Dining Room
- Family Room
- Vinyl Flooring
- Wheelchair Accessible (Rooms)
- Window Coverings
SITE AMENITIES
- 24 Hour Access
- Clubhouse
- Courtyard
- Fitness Center
- Laundry Facilities
- Pool
- Sauna
- Tennis Court
- Basketball Court
- Gameroom
- Wheelchair Accessible
- Package Service
- Pet Play Area
- Lounge
- Maintenance on site
- Private Bathroom
- Fiber Optic Internet
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 40 | - | 495 - 700 |
| 2+1 | 22 | - | 1,005 |
| 2+1.5 | 4 | - | 1,035 |
1 1
Walk Score®
Very Walkable (71)
PROPERTY TAXES
| Parcel Number | 59-232-003 | Total Assessment | $1,706,253 |
| Land Assessment | $234,470 | Annual Taxes | $114,450 ($2.16/SF) |
| Improvements Assessment | $1,471,783 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
59-232-003
Land Assessment
$234,470
Improvements Assessment
$1,471,783
Total Assessment
$1,706,253
Annual Taxes
$114,450 ($2.16/SF)
Tax Year
2025
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HeatherWoods | 1574 - 1576 Heather Dr
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