1950 Manor Pl
Fairfield, CA 94533
Cash Cow / Newer 1985 Constr / Pitched Roof · Multifamily Property For Sale · 10 Units

Showing by appointment. Contact Exclusive Listing Agent Jon Holmquist. This offering at 1950 Manor Place, in Fairfield, CA consists of a well-kept ten-unit apartment complex, in a quiet residential neighborhood. Constructed circa 1985 of wood frame with stucco siding, the property features a low maintenance pitched composite roof replaced circa 2005, and the building was repainted in 2013. The property sits on a large 0.51 acre parcel (per county records) and consists of two two-story buildings with ten covered carport spaces and features attractive mature landscaping. Each townhouse features a spacious floor plan of roughly 940 square feet with individual walk-up entrances, and large patios to the rear. Units #6 through #10 have all had significant improvements done with a variety of townhouse interior improvements including upgraded flooring, counter tops, cabinetry, and bathrooms (varies by unit). All ten units have dishwashers, washer/dryer laundry hook-ups, central air & heating. Each town-home is assigned one covered parking spot. The property is separately metered for gas and electricity ensuring steady and predictable expenses for the owner. The current owner acquired the property in 1987, and has reinvested a significant amount of capital in both interior and exterior improvements. The new buyers will enjoy an acquisition with very little deferred maintenance, and a great starting return of over 8%. The property is currently managed by a 3rd party management company and features many longer term, stable tenants – this should allow the buyer to step into relatively hassle-free ownership with minimal headaches.