2255 Bird St
61 Unit Apartment Building $4,250,000 ($69,672/Unit) 6.52% Cap Rate Oroville, CA 95965
INVESTMENT HIGHLIGHTS
- Recently Renovated in 2024
- Off-Street Parking - Newly paved and striped parking lot
- Diverse Unit Mix - Suitable for both short term and long term residency
EXECUTIVE SUMMARY
The DeLoney Group of Marcus & Millichap has been retained as exclusive agent to offer fee simple interest in Riverside Villas. This attractive 61-
unit apartment / SRO community is located in the heart of Oroville, California. The 1958 built property has seen a tremendous amount capital
improvements and overall renovations in 2024, distinguishing itself from the bulk of the rental market and providing residents a unique and
flexible form of living.
The Riverside Villas features a mix of (29) single-room units which are suitable for short-term living and located throughout the second floor of
the complex, (29) studio units, (2) larger studio suites, and (1) manager's suite. In addition to renovating units upon resident turnover, other
improvements include paint throughout, a freshly paved parking lot, newly constructed dog park, and a picnic area for residents to enjoy, This
property is well located just minutes off HWY-99 and half-way between Yuba City and Chico, two markets which have seen large population
growth in the last 5 years.
This offering is a unique opportunity to purchase a renovated and cash flowing asset, with the ability to add value through concentrated
management and removing the STR regulatory agreement currently set on the property.
All tours must be scheduled through listing agents. Please do not disturb residents or management.
unit apartment / SRO community is located in the heart of Oroville, California. The 1958 built property has seen a tremendous amount capital
improvements and overall renovations in 2024, distinguishing itself from the bulk of the rental market and providing residents a unique and
flexible form of living.
The Riverside Villas features a mix of (29) single-room units which are suitable for short-term living and located throughout the second floor of
the complex, (29) studio units, (2) larger studio suites, and (1) manager's suite. In addition to renovating units upon resident turnover, other
improvements include paint throughout, a freshly paved parking lot, newly constructed dog park, and a picnic area for residents to enjoy, This
property is well located just minutes off HWY-99 and half-way between Yuba City and Chico, two markets which have seen large population
growth in the last 5 years.
This offering is a unique opportunity to purchase a renovated and cash flowing asset, with the ability to add value through concentrated
management and removing the STR regulatory agreement currently set on the property.
All tours must be scheduled through listing agents. Please do not disturb residents or management.
PROPERTY FACTS
| Price | $4,250,000 |
| Price Per Unit | $69,672 |
| Sale Type | Investment |
| Cap Rate | 6.52% |
| No. Units | 61 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Building Size | 11,315 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1958/2024 |
| Opportunity Zone |
Yes |
1 of 1
Walk Score®
Very Walkable (75)
PROPERTY TAXES
| Parcel Number | 012-100-034-000 | Improvements Assessment | $1,698,300 |
| Land Assessment | $586,500 | Total Assessment | $2,284,800 |
