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1199 Melton Drive

Yuba City, CA 95991
  • $905,000
  • STATUS: Active
  • ON SITE: 23 Days
  • ID#: OR22155732
UPDATED: 217 min ago
$905,000
  • 0
    BEDS
  • 0.25
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1985
County:

School Ratings & Info

Listing Agent(s): Shan Wedgwood of Marcus & Millichap (909-456-3410)


Description

1199 Melton Drive offers a truly unique opportunity to purchase a stable asset with a true value-add component without any major on capital projects. Furthermore, Yuba and Sutter counties are expected to see a huge surge in apartment demand while experiencing virtually zero new housing construction.The property offers a unique value -add opportunity that's been proven by ownership in one of California's hottest growth markets. Roughly 40 percent of the unit interiors have been upgraded in the last couple of years. The next owner can follow the proven renovation spec and recapture more than 18 percent loss to lease on the July 2022 rent roll.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-09T00:27:42.27. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Nest Real Estate. Licensed in the State of California, USA.
www.amayarealestategroup.com/homes/130979278
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1199 Melton Drive Yuba City, CA 95991

  • Price: $905,000
  • Status: Active
  • On Site: 23 Days
  • Updated: 217 min ago
  • ID#: OR22155732
0
Beds
0
Baths
0
½ Baths
0.25
Acres
1985
Built
County:
Sutter
Property Description
1199 Melton Drive offers a truly unique opportunity to purchase a stable asset with a true value-add component without any major on capital projects. Furthermore, Yuba and Sutter counties are expected to see a huge surge in apartment demand while experiencing virtually zero new housing construction.The property offers a unique value -add opportunity that's been proven by ownership in one of California's hottest growth markets. Roughly 40 percent of the unit interiors have been upgraded in the last couple of years. The next owner can follow the proven renovation spec and recapture more than 18 percent loss to lease on the July 2022 rent roll.
Exterior Features

Lot Features 0-1 Unit/Acre Number Of Separate Electric Meters 5 Open Parking Spaces 6 Parking Total 12 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 1 Common Wall Cooling Central Air Cooling YN Yes Fireplace Features Family Room Fireplace YN Yes

Property Features

Additional Parcels YN No Cap Rate 4.3 Common Interest Community Apartment Community Features Gutter(S)Storm Drain(S)Street LightsSuburbanSidewalks Garage YN Yes Gross Income 63120 Gross Scheduled Income 63120 Insurance Expense 1800 Land Lease YN No Laundry Features Common Area Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms Conventional Net Operating Income 38912 New Construction YN No Number Of Separate Gas Meters 5 Number Of Separate Water Meters 5 Operating Expense 24208 Property Sub Type Apartment Rent Control YN No Senior Community YN No Sewer Septic Tank Special Listing Conditions Standard Trash Expense 1120 Utilities Natural Gas ConnectedSewer ConnectedWater Connected Vacancy Allowance Rate 3 Water Source Public Zoning R3



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-09T00:27:42.27. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Nest Real Estate. Licensed in the State of California, USA.
 
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Nest Real Estate
21804 Cactus Ave ste 101
Riverside CA, 92518
Listing Agent(s): Shan Wedgwood of Marcus & Millichap (909-456-3410)