308 N Washington St - Apartments FOR SALE


Sonora, CA 95370
$1,600,000 USD
209-481-5438
308 N Washington St, Sonora, CA for Sale
$1,600,000 USD
Apartments - FOR SALE
1/4
null | 6.78% Cap Rate

308 N Washington St
Sonora, CA 95370


OVERVIEW

Welcome to Washington Square Apartments . This property boasts an unbeatable location and a strong history of high occupancy . The apartment complex consists of 16 units , including a single-family home. The ±0.4-acre site is situated less than a quarter mile from charming downtown Sonora. Ownership has already completed much of the heavy lifting. The property’s exterior has been updated with new siding and paint, and seven units have been renovated. A new owner will have the opportunity to continue upgrading the remaining unit interiors as vacancies arise , allowing rents to be brought up to market levels. Current rents are more than 15% below market. Additionally, the property is zoned General Commercial, offering potential for future development.

FOR SALE DETAILS

PRICE

$1,600,000 USD

PRICE/SF

$285 USD /SF

# OF UNITS

16

PRICE/UNIT

$100,000

CAP RATE

6.78%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1949

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.36 AC

LAND SF

15,658 SF

ZONING

C

APN/PARCEL ID

001-091-002-000

ASK ABOUT THIS PROPERTY

Jacob FriedrichCoSoL Commercial Real EstateMore Info
209-481-5438

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Jacob FriedrichCoSoL Commercial Real EstateMore Info
209-481-5438

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