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308 N Washington St 16 Unit Apartment Building $1,600,000 ($100,000/Unit) 6.78% Cap Rate Sonora, CA 95370
Executive Summary
Welcome to Washington Square Apartments . This property
boasts an unbeatable location and a strong history of high
occupancy . The apartment complex consists of 16 units ,
including a single-family home. The ±0.4-acre site is situated less
than a quarter mile from charming downtown Sonora.
Ownership has already completed much of the heavy lifting. The
property’s exterior has been updated with new siding and paint,
and seven units have been renovated. A new owner will have the
opportunity to continue upgrading the remaining unit interiors
as vacancies arise , allowing rents to be brought up to market
levels. Current rents are more than 15% below market.
Additionally, the property is zoned General Commercial, offering
potential for future development.
boasts an unbeatable location and a strong history of high
occupancy . The apartment complex consists of 16 units ,
including a single-family home. The ±0.4-acre site is situated less
than a quarter mile from charming downtown Sonora.
Ownership has already completed much of the heavy lifting. The
property’s exterior has been updated with new siding and paint,
and seven units have been renovated. A new owner will have the
opportunity to continue upgrading the remaining unit interiors
as vacancies arise , allowing rents to be brought up to market
levels. Current rents are more than 15% below market.
Additionally, the property is zoned General Commercial, offering
potential for future development.
Property Facts
| Price | $1,600,000 | Apartment Style | Garden |
| Price Per Unit | $100,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.36 AC |
| Cap Rate | 6.78% | Building Size | 5,620 SF |
| No. Units | 16 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1949 |
| Property Subtype | Apartment | Parking Ratio | 1.07/1,000 SF |
| Zoning | C - Commercial | ||
| Price | $1,600,000 |
| Price Per Unit | $100,000 |
| Sale Type | Investment |
| Cap Rate | 6.78% |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.36 AC |
| Building Size | 5,620 SF |
| No. Stories | 1 |
| Year Built | 1949 |
| Parking Ratio | 1.07/1,000 SF |
| Zoning | C - Commercial |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | - |
| 2+1 | 2 | - | - |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Minimal public transit
10/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 001-091-002-000 | Improvements Assessment | $1,277,398 |
| Land Assessment | $212,241 | Total Assessment | $1,489,639 |
Property Taxes
Parcel Number
001-091-002-000
Land Assessment
$212,241
Improvements Assessment
$1,277,398
Total Assessment
$1,489,639
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308 N Washington St
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