The Acorns in June Lake 25 Howard Ave 5 Unit Apartment Building $2,888,000 ($577,600/Unit) 3.93% Cap Rate June Lake, CA 93529

The Acorns at June Lake offers a newly constructed, five-unit multifamily asset in the heart of California’s Eastern Sierra region. Built in 2024, the property is fully leased and generates an annual gross income of approximately $150,000 with an NOI of $113,440, translating to an in-place cap rate of about 3.93 percent. Each identical cabin features a two-bedroom plus loft floor plan, open-concept living spaces, modern kitchens, pellet fireplaces, and private outdoor areas with mountain or lake views.
Situated on 0.43 acres, the property benefits from efficient design and durable construction, including steel-reinforced foundations, fire-rated roofing, and high-performance insulation for year-round comfort. Condo map engineering is complete, providing investors with future optionality for individual unit sales or condo conversion after final approvals. This turnkey investment offers predictable operating expenses with an estimated ratio of 24–26 percent, driven by new systems and tenant-paid utilities.
Located steps from June Lake and minutes to June Mountain Ski Area, Gull Lake, and the Yosemite National Park East Gate, The Acorns serves as an attractive option for both short- and long-term renters. The surrounding market is supply-constrained, with no similar newly built small-scale multifamily projects recorded in the past decade, reinforcing the property’s scarcity value and long-term appreciation potential.