317 5th St

Turton Commercial Real Estate is proud to present 317 5th Street, a multifamily investment property located in the historic heart of Marysville. This distinguished complex boasts 8 units, each offering 1,200 SF of living space, comprised of 5 two-bedroom one-bathroom apartments and 3 three-bedroom one-bathroom apartments. A significant renovation in 2020 upgraded the property with modern amenities including in-unit washer/dryers, HVAC wall units, and dishwashers, making it a highly desirable residence for tenants. The thoughtful inclusion of these amenities, along with the spacious layouts ideally suited for families or those that want to share costs, contributes to the property’s competitive edge in the market. Priced at $184,375 per door, with a total valuation of $1,475,000 reflecting a 6.5% capitalization rate, the investment is underscored by a Net Operating Income of $95,875. This includes considerations for pro-forma property taxes and a 3% vacancy reserve, in a market with a current vacancy rate of 5.3%. The recent renovations suggest that the new owner is likely to face fewer immediate, significant deferred maintenance or improvement costs, enhancing the property’s appeal.
The allure of 317 5th Street is deeply rooted in its location within Marysville, a neighborhood rich in history and culture. Marysville’s historical narrative, dating back to its origins in 1844 as a pivotal trading post during the Gold Rush, lends a unique character and charm to the area. Today, the neighborhood is home to significant cultural landmarks like the American Chinese Museum of Northern California and the Norman A. Rideout House. These sites not only enrich the community but also offer residents and visitors a window into Marysville’s dynamic past.
The property’s strategic position in Marysville affords residents unparalleled access to a broad spectrum of local amenities, enhancing the living experience and contributing to the building’s low vacancy rates. Residents enjoy proximity to a variety of local favorites, including Cortez room, Casa Carlos, Thao kitchen, Ace Hardware, Umpqua bank, Mary Covillaud Elementary, Champaka Nails, USPS, Yuba County Superior Court, Elvy’s Thrift Shop, All Rite Market, Wells Fargo ATM and the Yuba River. This accessibility, combined with the historical significance of the location, makes 317 5th Street a coveted address, offering the perfect blend of historical allure and modern convenience.
The combination of low vacancy rates, high tenant desirability, and strategic location ensures a steady demand for the living spaces. The spacious units, appealing to families and individuals looking to share costs, are a magnet for long-term tenancy, elevating the property’s allure. 317 5th Street is not merely a unique living space but a sound investment opportunity, offering both a connection to the rich historical tapestry of Marysville and a modern living experience.