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1625 Richland Ave
Vineyard Apartments · Multifamily Property For Sale
·
212 Units
INVESTMENT HIGHLIGHTS
Vineyard Apartments offers investors the opportunity to increase rental income by approximately 20% via interior and common area renovations.
60% of the units have been fully renovated (new cabinets, countertops, vanities, two-tone paint, appliances, etc.)
Common Area Amenities Include: Two Swimming Pools, Five On-Site Laundry Rooms, Playground, Open and Covered Parking.
Offered free & clear of debt and attractively priced at a 5.25% cap rate on cur rent operations/7.23% cap rate on pro forma operations.
A desirable unit mix featuring charming single-story cottages as well as one, two, and three-bedroom apartments.
A convenient location near Highway 99 and close to bus lines making for the commute within Ceres or to Modesto effortless.
PROPERTY FACTS
No. Units
212
Property Type
Multifamily
Property Subtype
Apartment
Apartment Style
Garden
Building Class
B
Lot Size
10.74 AC
Building Size
251,005 SF
Average Occupancy
94%
No. Stories
2
Year Built
1979
Parking Ratio
0.89/1,000 SF
UNIT AMENITIES
Air Conditioning Cable Ready Dishwasher Disposal
Heating Ceiling Fans Refrigerator
Range Tub/Shower Walk-In Closets
Carpet Vinyl Flooring Window Coverings
SITE AMENITIES
Laundry Facilities Playground Pool
Property Manager on Site Laundry Service
Package Service Storage Space
Maintenance on site Sundeck
UNIT MIX INFORMATION
DESCRIPTION
NO. UNITS
AVG. RENT/MO
SF
1+1
108
-
575
2+1
96
-
750
3+2
8
-
1,009
PROPERTY TAXES
Parcel Numbers
Multiple
Improvements Assessment
$8,320,137
Land Assessment
$1,381,264
Total Assessment
$9,701,401
