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Palazzo Luxury Villas 475 Dover Pky 45 Unit Apartment Building $13,350,000 ($296,667/Unit) 5.32% Cap Rate Delano, CA 93215
Investment Highlights
- Newly constructed 45 unit apartment
- Professionally landscaped grounds creating a resort-style atmosphere for residents
- Positioned in one of Delano's premier residential corridors
- 45-unit luxury apartment community in one of Delano's most desirable residential neighborhoods
- Strategically located just minutes from Highway 99
- Rare institutional-quality multifamily offering
Executive Summary
Introducing Palazzo Luxury Villas, a beautifully maintained 45-unit luxury apartment community located at 475 Dover Parkway in Delano, California. This exceptional investment opportunity offers an attractive combination of upscale living, strong tenant appeal, and long-term income potential in one of Delano's most desirable residential locations. The property features spacious, thoughtfully designed apartment homes with quality finishes, professionally landscaped grounds, and amenities that cater to today's residents seeking comfort and convenience. Ideally positioned near major employers, shopping, dining, schools, and convenient highway access, Palazzo Luxury Villas benefits from consistent rental demand and excellent accessibility throughout the Central Valley. Whether you're seeking a stable, cash-flowing asset or a high-quality addition to a growing multifamily portfolio, Palazzo Luxury Villas represents a rare opportunity to acquire a premier luxury apartment community in an expanding market with strong long-term fundamentals.
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$1,075,850
|
$21.91
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$53,793
|
$1.10
|
| Effective Gross Income |
$1,022,057
|
$20.82
|
| Taxes |
$173,550
|
$3.53
|
| Operating Expenses |
$137,772
|
$2.81
|
| Total Expenses |
$311,322
|
$6.34
|
| Net Operating Income |
$710,735
|
$14.48
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $1,075,850 |
| Annual Per SF | $21.91 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $53,793 |
| Annual Per SF | $1.10 |
| Effective Gross Income | |
|---|---|
| Annual | $1,022,057 |
| Annual Per SF | $20.82 |
| Taxes | |
|---|---|
| Annual | $173,550 |
| Annual Per SF | $3.53 |
| Operating Expenses | |
|---|---|
| Annual | $137,772 |
| Annual Per SF | $2.81 |
| Total Expenses | |
|---|---|
| Annual | $311,322 |
| Annual Per SF | $6.34 |
| Net Operating Income | |
|---|---|
| Annual | $710,735 |
| Annual Per SF | $14.48 |
Property Facts
| Price | $13,350,000 | Building Class | B |
| Price Per Unit | $296,667 | Lot Size | 5.40 AC |
| Sale Type | Investment | Building Size | 49,100 SF |
| Cap Rate | 5.32% | Average Occupancy | 95% |
| Gross Rent Multiplier | 13.06 | No. Stories | 2 |
| No. Units | 45 | Year Built | 2025 |
| Property Type | Multifamily | Parking Ratio | 2.04/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | GC | ||
| Price | $13,350,000 |
| Price Per Unit | $296,667 |
| Sale Type | Investment |
| Cap Rate | 5.32% |
| Gross Rent Multiplier | 13.06 |
| No. Units | 45 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 5.40 AC |
| Building Size | 49,100 SF |
| Average Occupancy | 95% |
| No. Stories | 2 |
| Year Built | 2025 |
| Parking Ratio | 2.04/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | GC |
Amenities
Site Amenities
- Clubhouse
- Fitness Center
- Pool
- Cabana
- Furnished Units Available
- Lounge
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 3 | - | 1,000 - 1,050 |
| 3+2 | 42 | - | 1,100 - 1,200 |
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Somewhat walkable
30/100
Exceptionally drivable
100/100
Minimal public transit
10/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 521-230-01-00-8 | Total Assessment | $9,342,385 |
| Land Assessment | $467,385 | Annual Taxes | $173,550 ($3.53/SF) |
| Improvements Assessment | $8,875,000 | Tax Year | 2026 |
Property Taxes
Parcel Number
521-230-01-00-8
Land Assessment
$467,385
Improvements Assessment
$8,875,000
Total Assessment
$9,342,385
Annual Taxes
$173,550 ($3.53/SF)
Tax Year
2026
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