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The Wakefield Road Apartments 961 Wakefield Rd 13 Unit Apartment Building $2,275,000 ($175,000/Unit) 7.34% Cap Rate Turlock, CA 95380
INVESTMENT HIGHLIGHTS
- Thirteen (13) unit apartment complex with spacious two bedroom townhome style units and one bedroom flats, located in Central Turlock.
- Below market rents with opportunity for loss to lease recapture and utility reimbursement.
- Corner lot at Pioneer Avenue and Wakefield Road, just minutes from Downtown Turlock.
- Landscaped grounds, gated parking, and central courtyard.
EXECUTIVE SUMMARY
The Central Valley Investment Team is proud to present Wakefield Apartments, a thirteen (13) unit multifamily property located at 961 Wakefield Road in Turlock, California. The complex includes ten (10) spacious two-bedroom townhome style units with private fenced yards and three (3) one-bedroom units. Residents benefit from a lush central courtyard, secure gated parking, and the potential for on-site laundry.
Positioned on a professionally landscaped ±21,280 square foot lot with ±10,025 square feet of rentable space, the property offers immediate upside through loss to lease recapture and the potential to implement a utility reimbursement plan. All units are separately metered for gas and electricity, and the location just minutes from Downtown Turlock adds to its investment appeal.
Positioned on a professionally landscaped ±21,280 square foot lot with ±10,025 square feet of rentable space, the property offers immediate upside through loss to lease recapture and the potential to implement a utility reimbursement plan. All units are separately metered for gas and electricity, and the location just minutes from Downtown Turlock adds to its investment appeal.
PROPERTY FACTS
| Price | $2,275,000 | Apartment Style | Low-Rise |
| Price Per Unit | $175,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.49 AC |
| Cap Rate | 7.34% | Building Size | 10,025 SF |
| Gross Rent Multiplier | 8.84 | No. Stories | 2 |
| No. Units | 13 | Year Built | 1970 |
| Property Type | Multifamily | Parking Ratio | 1.5/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | RH, Turlock | ||
| Price | $2,275,000 |
| Price Per Unit | $175,000 |
| Sale Type | Investment |
| Cap Rate | 7.34% |
| Gross Rent Multiplier | 8.84 |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.49 AC |
| Building Size | 10,025 SF |
| No. Stories | 2 |
| Year Built | 1970 |
| Parking Ratio | 1.5/1,000 SF |
| Zoning | RH, Turlock |
AMENITIES
UNIT AMENITIES
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Online Services
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 3 | - | 675 - 950 |
| 2+1.5 | 10 | - | 800 |
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PROPERTY TAXES
| Parcel Number | 042-18-47 | Improvements Assessment | $1,237,490 |
| Land Assessment | $169,534 | Total Assessment | $1,407,024 |
PROPERTY TAXES
Parcel Number
042-18-47
Land Assessment
$169,534
Improvements Assessment
$1,237,490
Total Assessment
$1,407,024
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The Wakefield Road Apartments | 961 Wakefield Rd
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