1058 Grand AveLinda, CA 95961

Property Details for 1058 Grand Ave

Year built

1959

Lot size

1.08 AC

Property size (Sq ft)

13,950 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional 17-unit apartment building, located at 1058 Grand Ave, Linda, CA 95961, presents a compelling value-add investment opportunity. The property boasts 13,950 square feet of net rentable space across eight, two-story buildings situated on a 1.08-acre lot. Currently operating at 100% occupancy (as of September 9, 2024), the property features a mix of unit sizes: three 1-bedroom, ten 2-bedroom, and four 3-bedroom units. Many units include private exterior backyards, and the 3-bedroom units offer the added convenience of washer/dryer hookups and garage-style storage. Built in 1959, the property is zoned R-02 and offers one parking space per unit. The asking price is $2,550,000 ($150,000 per unit), representing a current cap rate of 6.79% and a pro-forma cap rate of 8.79%. The current Net Operating Income (NOI) is $173,113, projected to increase to $207,682. This property benefits from low maintenance costs and excellent in-place rents, making it an attractive investment in Yuba County, California. The property is offered fee simple, with no ground lease. Recent renovations to both the interior and exterior enhance its appeal and potential for increased profitability. This is a rare opportunity to acquire a well-located, multifamily asset with significant upside potential.

Location Insight

City

Linda

County

Yuba

State

California

Latitude

39.1134

Longitude

-121.576

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