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23800 N Highway 1 2 Unit Apartment Building $985,000 ($492,500/Unit) Fort Bragg, CA 95437
INVESTMENT HIGHLIGHTS
- This North Coast multifamily asset offers immediate cash flow from four existing rental units generating $4,000 per month.
- Located just minutes from Fort Bragg and a short walk to MacKerricher State Park and Beach, the property benefits from strong tourism appeal.
- The property’s 1.5-acre lot and unique architectural character make it ideal for long-term hold, 1031 exchange, or vacation rental repositioning.
- The mid-century 3-bedroom, 2-bath main residence features authentic old-growth redwood interiors, lofted ceilings, and a high-efficiency wood stove.
- With no current vacation rental restrictions, investors can unlock significant upside by converting units into high-demand short-term rentals.
- Offered at a firm price of $850,000, this coastal retreat presents exceptional value for Mendocino County’s thriving rental market.
EXECUTIVE SUMMARY
This rare North Coast multi-unit property combines steady income, substantial upside, and unbeatable location. Just 5 minutes north of Fort Bragg and a short walk to the pristine shores of MacKerricher State Park & Beach, this investment offers the perfect mix of long-term stability and vacation-rental potential.
Main Residence: Mid-century 3BR/2BA ranch-style home on 1.5 acres, featuring authentic old-growth redwood paneled walls, beamed & lofted ceilings, and a dramatic brick fireplace with a Drolet high-efficiency wood stove insert.
Income Units: Four existing units generate $4,000/month in stable rental income.
Tourism Upside: With no current vacation rental restrictions, investors can unlock significant revenue growth by upgrading units into stylish short-term rentals—ideal for visitors drawn to Mendocino’s redwoods, coastline, and outdoor lifestyle.
Enjoy a 15-minute nature trail stroll to MacKerricher Beach, whale-watching on the headlands, bird watching and kayaking Lake Cleone, or biking the Pacific Coast Highway. This location offers both tranquil living and strong tourist draw.
Buyer to cooperate with 1031 exchange at no cost.
Main Residence: Mid-century 3BR/2BA ranch-style home on 1.5 acres, featuring authentic old-growth redwood paneled walls, beamed & lofted ceilings, and a dramatic brick fireplace with a Drolet high-efficiency wood stove insert.
Income Units: Four existing units generate $4,000/month in stable rental income.
Tourism Upside: With no current vacation rental restrictions, investors can unlock significant revenue growth by upgrading units into stylish short-term rentals—ideal for visitors drawn to Mendocino’s redwoods, coastline, and outdoor lifestyle.
Enjoy a 15-minute nature trail stroll to MacKerricher Beach, whale-watching on the headlands, bird watching and kayaking Lake Cleone, or biking the Pacific Coast Highway. This location offers both tranquil living and strong tourist draw.
Buyer to cooperate with 1031 exchange at no cost.
PROPERTY FACTS
| Price | $985,000 | Property Subtype | Apartment |
| Price Per Unit | $492,500 | Building Class | B |
| Sale Type | Investment | Lot Size | 1.49 AC |
| Sale Condition | 1031 Exchange | Building Size | 1,949 SF |
| No. Units | 2 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1959 |
| Zoning | RR5(2) | ||
| Price | $985,000 |
| Price Per Unit | $492,500 |
| Sale Type | Investment |
| Sale Condition | 1031 Exchange |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 1.49 AC |
| Building Size | 1,949 SF |
| No. Stories | 1 |
| Year Built | 1959 |
| Zoning | RR5(2) |
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23800 N Highway 1
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