2980 Coloma StPlacerville, CA 95667

Property Details for 2980 Coloma St

Year built

1875

Property size (Sq ft)

12,800 SF

Property type

Apartment buildings

Description

This exceptional investment opportunity presents a two-building, multifamily property situated on a spacious 0.46-acre lot in Placerville, California. The property, boasting a total of 12,800 square feet, comprises a 31-bed single-room occupancy community and a separate six-bedroom, three-bathroom single-family home. Built in 1875 and renovated in 1910, the property features pitched roofs and on-site laundry facilities. Currently generating a strong net operating income (NOI) of $145,456, resulting in an attractive 9.70% capitalization rate, this asset offers significant potential for increased profitability. The property's location in a desirable residential neighborhood provides easy access to Highway 50, placing it within convenient reach of employment centers, shopping, and dining options in downtown Placerville. The R106 zoning designation ensures flexibility for future development or operational enhancements. The property is offered at an asking price of $1,500,000, presenting a compelling return on investment. On-site management is currently in place. The property's APN is 001-161-027. This is a rare opportunity to acquire a high-yielding multifamily property in a thriving California market. Potential for increased cash flow exists through market-rate rent adjustments and addressing the loss-to-lease gap.

Location Insight

City

Placerville

County

El Dorado

State

California

Latitude

38.7291

Longitude

-120.804

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