For Sale
$549,000

316 1St StGrass Valley, CA 95945

High-Yield Triplex, Updated 2015

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional three-unit apartment building presents a compelling investment opportunity in the heart of Grass Valley, California. Located just blocks from the historic downtown area, this property boasts a strong 7.68% cap rate and a healthy net operating income (NOI) of $42,161. Built in 1989 and extensively renovated in 2015, the building comprises one two-story structure on a 0.24-acre lot. The property features three separate entrances, providing convenience and privacy for tenants. Unit configurations include one spacious two-bedroom, one-bathroom unit upstairs with a private deck, and two one-bedroom units downstairs. A large fenced yard offers ample outdoor space, while ample off-street parking caters to tenant needs. The building is equipped with solar panels, contributing to lower electricity costs and reduced maintenance expenses. Its prime location offers easy access to shopping, schools, and public transportation. The property also includes 1,895 square feet of air rights, presenting potential for future expansion. The asking price is $549,000, making this a highly attractive investment in a desirable California location. APN: 08-326-07-000.

Highlights

  • $549,000 asking price for this multifamily investment property.
  • 7.68% cap rate with a $42,161 Net Operating Income (NOI).
  • Three-unit apartment building (triplex) located in historic downtown Grass Valley, CA.
  • Features include three separate entrances, ample off-street parking, and a large fenced yard.
  • Building consists of one 2BR/1BA unit and two 1BR units.
  • Renovated in 2015, with solar panels for reduced energy costs.

Property Details for 316 1St St

Property type
Apartment buildings
Year Built/Renovated
1989/2015
Buildings
1
Stories
2
Lot Size (sq. ft)
10,454 SF
Units
3

Location Insight

City
Grass Valley
County
Nevada
State
California
Latitude
39.2208791
Longitude
-121.0569247
316 1St St, Grass Valley, California

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316 1St St
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