275 9th St - Apartments FOR SALE


Fortuna, CA 95540
$1,250,000 USD
707-682-8100
275 9th St, Fortuna, CA for Sale
$1,250,000 USD
Apartments - FOR SALE
1/9
null | 5% Cap Rate

275 9th St
Fortuna, CA 95540


HIGHLIGHTS

  • Recently renovated,no through traffic, individually metered

OVERVIEW

Investment Opportunity. Recently Renovated 7-unit apartment complex featuring spacious 2-bedroom, 1.5-bath townhouse-style units with in-unit laundry and private fenced backyards. Each unit is thoughtfully designed with kitchen, living room, laundry, and half bath on the main floor, and two bedrooms plus full bath upstairs.Property Features: Ample off-street parking with covered carports, Quiet setting with no through traffic, Professionally managed for ease of ownership, Each unit separately metered for PGE gas/power and water/sewer, Owner pays landscaping, pest control, and trash, Extensive recent upgrades inside and out (see documents for full list of recent capital improvements). Financials: Gross Monthly Rents: $9,800. 2024 NOI: $57,608 (4.6% cap; reflects vacancy for interior remodeling). 2023 NOI 68,051 5.4 cap rate Note the attached documents with YTD, 2023 and 2024 profit and loss statements and rent roll Unit D to remain vacant for purposes of showing the property. Remaining units to be shown upon accepted offer

FOR SALE DETAILS

PRICE

$1,250,000 USD

PRICE/SF

$156 USD /SF

# OF UNITS

7

PRICE/UNIT

$178,571

CAP RATE

5%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1987

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.41 AC

LAND SF

17,860 SF

ZONING

RM

APN/PARCEL ID

040-192-002-000

ASK ABOUT THIS PROPERTY

Matt AllenHumboldt Equity Inc.More Info
707-682-8100

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Matt AllenHumboldt Equity Inc.More Info
707-682-8100

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.