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410 Pine St 10 Unit Apartment Building $2,200,000 ($220,000/Unit) 5.50% Cap Rate Ripon, CA 95366
INVESTMENT HIGHLIGHTS
- • The property is located in the heart of downtown Ripon, a historic city known for its charming small-town atmosphere.
- • The property is situated near Ripon's City Hall and Library, offering convenient access to municipal services and community resources.
- The area surrounding the property reflects a blend of residential neighborhoods and commercial establishments, creating a dynamic and vibrant environm
- • Ripon offers a vibrant mix of local businesses, restaurants, and shops, including community staples such as Schemper’s Ace Hardware and the award-wi
- • Ripon is home to the annual Almond Blossom Festival, a hallmark event that draws visitors from across the region. The city also offers year-round at
EXECUTIVE SUMMARY
This property represents a prime investment opportunity with substantial upside in the sought-after Ripon rental market. Located in a community known for its safety and stability, the asset benefits from strong tenant demand and a well-established resident base, ensuring immediate income and long-term security.
The investment is further enhanced by two key drivers: (1) the opportunity to streamline operations and reduce expenses through more efficient management, and (2) the fact that current rents are approximately 15% below market. This dynamic guarantees consistent rent growth year over year, both through maximum allowable increases for existing tenants and by capturing full market rents as units turn over.
With these strengths, the property is positioned to generate reliable cash flow today while offering significant appreciation potential over the investment horizon.
The investment is further enhanced by two key drivers: (1) the opportunity to streamline operations and reduce expenses through more efficient management, and (2) the fact that current rents are approximately 15% below market. This dynamic guarantees consistent rent growth year over year, both through maximum allowable increases for existing tenants and by capturing full market rents as units turn over.
With these strengths, the property is positioned to generate reliable cash flow today while offering significant appreciation potential over the investment horizon.
PROPERTY FACTS
| Price | $2,200,000 | Building Class | B |
| Price Per Unit | $220,000 | Lot Size | 0.34 AC |
| Sale Type | Investment | Building Size | 7,016 SF |
| Cap Rate | 5.50% | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1980 |
| Property Subtype | Apartment | Parking Ratio | 2.28/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | Residential - Multi-family | ||
| Price | $2,200,000 |
| Price Per Unit | $220,000 |
| Sale Type | Investment |
| Cap Rate | 5.50% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.34 AC |
| Building Size | 7,016 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1980 |
| Parking Ratio | 2.28/1,000 SF |
| Zoning | Residential - Multi-family |
AMENITIES
UNIT AMENITIES
- Cable Ready
- Disposal
- Microwave
- Kitchen
- Oven
- Range
SITE AMENITIES
- Fenced Lot
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1.5 | 6 | - | 630 |
| 2+1.5 | 4 | - | - |
1 1
Walk Score®
Very Walkable (79)
PROPERTY TAXES
| Parcel Number | 259-060-22 | Improvements Assessment | $1,460,016 |
| Land Assessment | $360,901 | Total Assessment | $1,820,917 |
PROPERTY TAXES
Parcel Number
259-060-22
Land Assessment
$360,901
Improvements Assessment
$1,460,016
Total Assessment
$1,820,917
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Hogan Real Estate
410 Pine St
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