6087 Blue Heron DrUpper Lake, CA 95485
- Residential income properties
- 1.50 AC
Property Details for 6087 Blue Heron Dr
- Year built
- 1992
- Lot size
- 1.50 AC
- Property type
- Residential income properties
- Property subtype
- Multifamily properties
Description
This exceptional 25-unit apartment complex presents a compelling investment opportunity. The property, known as Blue Heron Gardens, boasts a strong current NOI of $209,000, translating to a 5.89% cap rate with a pro-forma cap rate of 7.15% and a pro-forma NOI of $253,725. The complex comprises 21 two-bedroom, 1.5-bathroom townhouses and 4 one-bedroom, one-bathroom flats, totaling 20,500 net rentable square feet. Each unit features a carport, with ample additional parking available. The five buildings, situated on 1.5 acres, are meticulously maintained and have undergone continuous upgrades over the past 25 years. This has resulted in historically low tenant turnover, with many long-term residents. Residents enjoy private balconies (in the upstairs units), a common area with picnic tables and BBQs, and convenient proximity to Clear Lake. The property is zoned R-3 and features a coin-operated laundry room. The complex is strategically located in Upper Lake, California (95485), offering easy access to major highways and nearby attractions. The asking price is $3,550,000, representing $142,000 per unit. This property is offered as a 1031 exchange opportunity. The buildings are situated on five separate legal lots, consisting of three fourplexes, one five-unit building, and one eight-unit building. The location offers picturesque views, access to outdoor recreation, and proximity to wineries. This is a rare opportunity to acquire a well-maintained, high-performing multifamily property in a desirable location.
Location Insight
- City
- Upper Lake
- County
- Lake
- State
- California
- Latitude
- 39.1218
- Longitude
- -122.865
Comparable in this City
Similar Nearby for Sale
FAQs
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- 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.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].