429-443 Robinson Avenue
12 Unit Apartment Building $1,899,000 ($158,250/Unit) 5.30% Cap Rate Yuba City, CA 95991
INVESTMENT HIGHLIGHTS
- • Exclusively single-story, two-bedroom floorplans
- • 0.4 Miles from Yuba City High and Sutter Urgent Care
- • Pitched Roofs
- • Value-add opportunity with 22% upside in rental income
- • Laundry on-site
- • Large 0.84 Acre Lot
EXECUTIVE SUMMARY
Colliers is pleased to present the sale of a 12-unit multifamily investment opportunity located at 429-443 Robinson Ave in Yuba City, CA. Built in 1971, the community is entirely comprised of two-bedroom/one-bathroom floorplans spanning across three single-story fourplexes on 0.84 acres. Seven of the twelve units have experienced recent upgrades and command impressive market rents of $1,450/month. Three of the remaining units will benefit from interior improvements and raising rents to market and the two remaining units can receive annual rent increases to meet market rents within two years. The Ratio Utility Billing System (RUBS), which bills tenants for a portion of the sewer, water, and garbage charges to all residents, has been implemented across all twelve units.
Yuba City is experiencing an impressive upward trend in growth and development in housing, business, and recreation. Recent city improvements that were designed to create a vibrant, welcoming environment in the downtown corridor include the refurbishment of the water tower with a new city logo and multicolored LEDs, and a plaza that will accommodate a playground, stage, and an illuminated gateway arch directly at the entrance to downtown.
Yuba City is experiencing an impressive upward trend in growth and development in housing, business, and recreation. Recent city improvements that were designed to create a vibrant, welcoming environment in the downtown corridor include the refurbishment of the water tower with a new city logo and multicolored LEDs, and a plaza that will accommodate a playground, stage, and an illuminated gateway arch directly at the entrance to downtown.
PROPERTY FACTS
| Price | $1,899,000 |
| Price Per Unit | $158,250 |
| Sale Type | Investment |
| Cap Rate | 5.30% |
| Gross Rent Multiplier | 11 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.84 AC |
| Building Size | 9,792 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1971 |
| Opportunity Zone |
Yes |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 12 | $1,132 | 800 |
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Walk Score®
Very Walkable (72)
ZONING
| Zoning Code | R2 |
