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201 Walnut Ave 16 Unit Apartment Building $1,625,000 ($101,563/Unit) 6.35% Cap Rate Coalinga, CA 93210
INVESTMENT HIGHLIGHTS
- Strong In-Place Cash Flow
- Prime Location + Desirable Submarket
- Value-Add Upside
- Tenant-Friendly Design
EXECUTIVE SUMMARY
The Palms Apartments is a 16-unit multifamily opportunity located at 201 Walnut Avenue in Coalinga, CA. Comprised of four single-story buildings, the property features all 2-bed/1-bath units with approximately 813 SF each—ideal for tenants seeking accessibility and privacy.
Built in 1970 and situated on nearly an acre, the complex benefits from its strategic location directly across from Coalinga College, formerly known as West Hills College. This high-visibility site offers seamless access to Highway 198 and Coalinga's growing retail corridor, enhancing tenant convenience and long-term demand.
In-place rents are approximately 10% below market, presenting a value-add opportunity through organic rent growth. With current operations producing over $103K in annual NOI and a cap rate of 6.37%, The Palms is a strong cash-flowing asset with upside potential in a supply-constrained rental market.
Built in 1970 and situated on nearly an acre, the complex benefits from its strategic location directly across from Coalinga College, formerly known as West Hills College. This high-visibility site offers seamless access to Highway 198 and Coalinga's growing retail corridor, enhancing tenant convenience and long-term demand.
In-place rents are approximately 10% below market, presenting a value-add opportunity through organic rent growth. With current operations producing over $103K in annual NOI and a cap rate of 6.37%, The Palms is a strong cash-flowing asset with upside potential in a supply-constrained rental market.
PROPERTY FACTS
| Price | $1,625,000 | Apartment Style | Garden |
| Price Per Unit | $101,563 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.00 AC |
| Cap Rate | 6.35% | Building Size | 13,004 SF |
| No. Units | 16 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1962 |
| Property Subtype | Apartment | Parking Ratio | 0.77/1,000 SF |
| Zoning | MU - Apartments | ||
| Price | $1,625,000 |
| Price Per Unit | $101,563 |
| Sale Type | Investment |
| Cap Rate | 6.35% |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.00 AC |
| Building Size | 13,004 SF |
| No. Stories | 1 |
| Year Built | 1962 |
| Parking Ratio | 0.77/1,000 SF |
| Zoning | MU - Apartments |
AMENITIES
UNIT AMENITIES
- Cable Ready
- Washer/Dryer
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 16 | - | 1,000 |
1 1
PROPERTY TAXES
| Parcel Number | 071-161-16S | Improvements Assessment | $842,637 |
| Land Assessment | $284,345 | Total Assessment | $1,126,982 |
PROPERTY TAXES
Parcel Number
071-161-16S
Land Assessment
$284,345
Improvements Assessment
$842,637
Total Assessment
$1,126,982
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201 Walnut Ave
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