4923 Cowell BlvdDavis, CA 95618

Property Details for 4923 Cowell Blvd

Year built

1969

Property size (Sq ft)

3,522 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional 4-unit apartment building, located at 4923 Cowell Blvd in Davis, CA, presents a compelling investment opportunity. Built in 1969 and renovated in 2023, this Class B property boasts 3,522 square feet on a spacious 10,120 square foot lot. The property features four units, each approximately 753 square feet, with two bedrooms and one bathroom. Currently enjoying 100% occupancy (as of August 1, 2024), the property generates a substantial net operating income (NOI) of $71,425, resulting in a 7.15% cap rate. A pro-forma NOI of $20,401 and a pro-forma cap rate of 2.04% are also available. The property includes six parking spaces. Situated in a desirable neighborhood near UC Davis, this property benefits from its proximity to the university, local amenities, and convenient access to major transportation routes. The asking price is $999,000, translating to $249,750 per unit. The property is held in trust and is not subject to a ground lease. The large lot size presents potential for future development, subject to buyer verification. This stabilized investment offers a strong return and significant upside potential in a thriving rental market. The property's recent renovations ensure long-term value and minimal maintenance needs. This is a rare opportunity to acquire a well-maintained, high-performing multifamily property in a prime Davis location.

Location Insight

City

Davis

County

Yolo

State

California

Latitude

38.5489

Longitude

-121.69

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