Woodridge Apartments 1895 H St 126 Unit Apartment Building $12,750,000 ($101,190/Unit) 8.67% Cap Rate Arcata, CA 95521

6.20 GRM / 8.67% Cap Rate / 10.47% ProForma (ProForma Based on Current Rents + Utilities to Tenants)
Average Rent $1,350 at approximately $100K per Unit
*PHENOMENAL DEAL*
Marcus & Millichap is pleased to present Woodridge Apartments comprised of 126 multifamily units and strategically located at 1895 H St and 1935 H St, Arcata, CA. Woodridge Apartments has majority of its unit mix as two bedrooms, was built in 1961 and sits on a large 3.13 acre lot. These stabilized properties offer consistent cash flow, walkable convenience, and long-term upside in a supply-constrained market. Woodridge is directly across the street from Cal Poly Humboldt University. The State of California converted California State Humboldt to Cal Poly Humboldt in 2022 with an enrollment growth target of 11,000 student from 6,000 and committed a little under $500M to the conversion/expansion. More details in OM.
The unit mix is comprised of:
(12) Studio units averaging 400 sq ft and $1,113 Rent
(48) One bedroom units averaging 535 sf ft and $1,249 Rent
(66) Two bedroom units averaging 847 sq ft and $1,485 Rent
with an overall average rent of $1,360.
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 asteady rental demand, supported by the region's growing economy and limited housing supply.