347 Nile St - Apartments FOR SALE


Nevada City, CA 95959
$2,500,000 USD
916-224-9808
347 Nile St, Nevada City, CA for Sale
$2,500,000 USD
Apartments - FOR SALE
1/16
null | 5.86% Cap Rate

347 Nile St
Nevada City, CA 95959


HIGHLIGHTS

  • All single-story units
  • Fourteen separate buildings
  • Open courtyard
  • Potential for income growth
  • Workforce housing
  • Near Old Historic Nevada City

OVERVIEW

Colliers is pleased to present Pioneer Court Apartments located in Nevada City, CA. This property sites on 0.86 acres with an open courtyard in the middle and parking around the exterior of the property. The complex is accentuated with naturally forestry in and around the 14 separate buildings that provide residents with the peace and joys of being in nature while still close to services and employment. There are a total of 21 apartment units that are comprised of 7 – studios, 13 – 1bed/1bath, and 1 – 2bed/2bath units. The 2bed/2bath has been extensively renovated with all new cabinets, counter tops, vanities, wood laminate flooring, ceiling fans, can lighting, and stainless-steel appliances. This unit has its own washer dryer hookups while the remaining units share an on-site laundry room. As a fully refurbished unit it can serve as an example of renovation ideas and concepts for other units at the complex upon turnover. Other units have undergone various stages of updating and maintenance to keep the complex occupied. Nevada City is an exuberant Victorian era city among rivers and forest. The city was rated by US travel media as “Most Beautiful” and “Best River Town”. The city is located northeast of Roseville by approximately 44 miles and Downtown Sacramento is slightly over 60 miles via Interstate-80 and CA-49. Other cities within closure proximity include Grass Valley, Penn Valley, and Truckee. Residents have access to the Yuba River, Tahoe National Forest, Donner Summit and Donner Lake. The property is walking distance from Pioneer Park, 16-acres, that provide outdoor recreation of all sorts for the residents in the community. They host a wide range of events, rent facilities, plus a swimming pool, tennis courts, baseball fields, playground, and small amphitheater to name a few of the amenities. Old Historic Nevada City is an 8-minute walk away where residents enjoy food, dining, and entertainment in a thriving mountain town.

FOR SALE DETAILS

PRICE

$2,500,000 USD

PRICE/SF

$170 USD /SF

# OF UNITS

21

PRICE/UNIT

$119,048

CAP RATE

5.86%

% LEASED

90%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Pioneer Court

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1960

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.87 AC

LAND SF

37,967 SF

ZONING

-

APN/PARCEL ID

005-440-027-000

ASK ABOUT THIS PROPERTY

Aaron FrederickColliersMore Info
916-224-9808

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Aaron FrederickColliersMore Info
916-224-9808

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