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Green Tree Apartments 609-615 Moore St 16 Unit Apartment Building $2,388,000 ($149,250/Unit) 9.42% Cap Rate Madera, CA 93638
Investment Highlights
- Immediate value-add upside through interior rent growth as remaining units are brought to market standard
- Larger unit mix positions the asset above typical workforce housing, widening the tenant pool
- Larger unit mix positions the asset above typical workforce housing, widening the tenant pool
- Strong in-place fundamentals with the ability to push NOI without major capital projects
Executive Summary
Well-maintained 16-unit property with a solid unit mix of 8 one-bedroom units and 8 three-bedroom units. Built in 1986, with 7 units remodeled in 2025. Located on a quiet, primarily residential block. The property features open garage parking, on-site laundry for added income, and is walking distance to shopping and schools. Two units are currently vacant due to remodel, giving a new owner immediate rent-up upside. A clean, turnkey investment with stable income and built-in value-add potential.
Property Facts
| Price | $2,388,000 | Building Class | C |
| Price Per Unit | $149,250 | Lot Size | 0.64 AC |
| Sale Type | Investment | Building Size | 11,440 SF |
| Cap Rate | 9.42% | Average Occupancy | 88% |
| No. Units | 16 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1986/2025 |
| Property Subtype | Apartment | Parking Ratio | 1.75/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | R, Madera | ||
| Price | $2,388,000 |
| Price Per Unit | $149,250 |
| Sale Type | Investment |
| Cap Rate | 9.42% |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.64 AC |
| Building Size | 11,440 SF |
| Average Occupancy | 88% |
| No. Stories | 2 |
| Year Built/Renovated | 1986/2025 |
| Parking Ratio | 1.75/1,000 SF |
| Zoning | R, Madera |
Amenities
Unit Amenities
- Air Conditioning
Site Amenities
- Laundry Facilities
- Picnic Area
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | 580 |
| 3+1 | 8 | - | 850 |
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Property Taxes
| Parcel Numbers | Improvements Assessment | $964,281 | |
| Land Assessment | $185,687 | Total Assessment | $1,149,968 |
Property Taxes
Parcel Numbers
Land Assessment
$185,687
Improvements Assessment
$964,281
Total Assessment
$1,149,968
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Green Tree Apartments | 609-615 Moore St
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