Marlene Street Apartments | 960 Marlene St
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Marlene Street Apartments 960 Marlene St
20 Unit Apartment Building $5,358,037 CAD ($267,902 CAD/Unit) 5.64% Cap Rate Ukiah, CA 95482
Investment Highlights
- Well-designed and spacious floor plans
- Ample storage in unit and in carport
- Great central location close to everything
- Large upstairs bedrooms with jack-and-jill bathroom
- Quiet location at end of cul-de-sac
- Views of hills and valley from upstairs windows
Executive Summary
Rare opportunity for investors and developers alike, this Ukiah Valley 20-unit multi-family complex offers terrific cash flow and a stable tenant base. A 1985 subdivision converted this multi-family property into condominiums on 20 individual legal parcels, these townhomes are currently rented with strong rents. All units are 2 bedroom, 1.5 baths with a well-designed and spacious floor plan, large upstairs bedrooms with jack-and-jill bathroom and ample closets, central HVAC, fireplaces and private fenced yards. Amenities include on-site laundry facilities, in-ground pool, and carports plus additional on-site paved parking. Impeccably maintained landscaping with majestic redwoods and underground utilities creates a parklike setting at the end of a cul-de-sac in a desirable centrally located neighborhood. The City of Ukiah recently approved a minor subdivision and rezoning creating a separate 1.07 acre parcel that is not included in this offering, and the entire property will be rezoned to R2 zoning. Some AP numbers will change with the recording of the final subdivision maps and re-zoning. Ukiah is in the heart of Mendocino County Wine Country, under two hours to the Golden Gate Bridge and one hour north of the Sonoma County Airport.
Disclosure Packet Available: https://app.disclosures.io/link/960-Marlene-Street-s4lfjmcy
Disclosure Packet Available: https://app.disclosures.io/link/960-Marlene-Street-s4lfjmcy
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $5,358,037 CAD | Building Class | C |
| Price Per Unit | $267,902 CAD | Lot Size | 1.23 AC |
| Sale Type | Investment | Building Size | 22,211 SF |
| Cap Rate | 5.64% | Average Occupancy | 100% |
| No. Units | 20 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1983 |
| Property Subtype | Apartment | Parking Ratio | 0.9/1,000 SF |
| Apartment Style | Townhome |
| Price | $5,358,037 CAD |
| Price Per Unit | $267,902 CAD |
| Sale Type | Investment |
| Cap Rate | 5.64% |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 1.23 AC |
| Building Size | 22,211 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1983 |
| Parking Ratio | 0.9/1,000 SF |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Fireplace
- Heating
- Double Vanities
- Kitchen
- Range
- Tub/Shower
- Carpet
- Yard
- Double Pane Windows
- Vinyl Flooring
- Window Coverings
Site Amenities
- Laundry Facilities
- Pool
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1.5 | 20 | $2,091 CAD | 1,066 - 1,176 |
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zoning
| Zoning Code | R2 - Pending Recording (The City of Ukiah has approved a minor subdivision and rezoning from PD to R2. R2 zoning allows up to 28 units per acre.) |
| R2 - Pending Recording (The City of Ukiah has approved a minor subdivision and rezoning from PD to R2. R2 zoning allows up to 28 units per acre.) |
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Marlene Street Apartments | 960 Marlene St
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