For Sale
$2,249,000

200 Pine St Auburn, CA 95603

8-Unit Apartment Building, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
136
This exceptional 8-unit apartment building presents a compelling investment opportunity in the thriving city of Auburn, CA. Boasting a 5.42% cap rate and a pro-forma cap rate of 5.65%, this stabilized property offers strong potential for immediate returns and future growth. The property comprises two, two-story buildings totaling 7,650 square feet, situated on a 0.4-acre lot with ample parking (14 spaces). Built in 1984 and extensively renovated in 2024, the property currently enjoys 100% occupancy, generating a net operating income (NOI) of $121,982, with a pro-forma NOI of $127,076. The property is zoned R and features a desirable location just off I-80, providing easy access to major transportation routes and nearby amenities, including numerous national retailers and Auburn's vibrant downtown area. Over $320,000 in capital improvements have been made. The strong local market, with a vacancy rate near 2%, and a significant influx of residents, creates a favorable environment for rent increases and long-term appreciation. This is a rare opportunity to acquire a well-maintained, high-performing multifamily asset in a rapidly growing market. The property's location in Auburn, known for its high median home prices exceeding $600,000, creates a substantial gap between the cost to own and the cost to rent, further enhancing its investment appeal. The Placer County Assessor's Parcel Number (APN) is 002-092-045-000.

Highlights

  • 8-unit apartment building with 14 parking spaces (1.75:1 ratio).
  • Low market vacancy rate near 2%.
  • Over $320,000 in recent capital improvements.
  • Opportunity to increase rents.
  • Excellent I-80 freeway access, providing easy access to Roseville, Rocklin, Sacramento, Lake Tahoe, and Reno.
  • Located in affluent Auburn, CA, with median home prices exceeding $600,000.

Property Details for 200 Pine St

Property type
Apartment buildings
Square Feet
7,650 SF
Class
B
Year Built/Renovated
1984/2024
Buildings
2
Stories
2
Lot Size (sq. ft)
17,424 SF
Units
8

Location Insight

City
Auburn
County
Placer
State
California
Latitude
38.900683235009
Longitude
-121.07317700442

FAQs

What type of property is this?
Apartment building - 8-Unit Apartment Building, High ROI
Where is the apartment building located?
The property is located at 200 Pine St Auburn, CA.
What is the asking price?
The asking price for this property is $2,249,000.
What are key features of this property?
This property features: 8-unit apartment building with 14 parking spaces (1.75:1 ratio).; Low market vacancy rate near 2%.; Over $320,000 in recent capital improvements.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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200 Pine St
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