Arcata Multifamily Investment
For Sale
$8,325,000
305 Union St, Arcata, CA 95521
60-unit apartment community built in 2013 near Cal Poly Humboldt.
Property Size29,712 SF
Days on Market197
Property Features for 305 Union St
General Information
Standard status
Active
Size
29,712 SF
Property subtype
Multifamily
Occupancy
97%
Amenities
Newer Vintage (2013 Construction) Asset Offering Low Maintenance and Operational Efficiency
Exempt from AB 1482 Rent Control Allowing Full Rent Growth Flexibility and Immediate Upside Capture
Strong Demand Driver from Cal Poly Humboldt with Significant Enrollment Growth and $458M+ Investment in Expansion
Value Add Opportunity - Management Loss to Lease Upside
Building Details
Building Size
29,712 SF
Units
60
Listing Agency:
Sacramento Office
(916) 724-1400
Listed By:
David DeLoney · License #CA: 02045150, NV: S.0197287
(916) 724-1294
Source:
Marcusmillichap
Added: Apr 10
Changed: Oct 21
Last Checked: Oct 23 at 3:27AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Sacramento Office
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Investment Insights
Based on property information with market context.
Campbell Creek Apartments, constructed in 2013, is a 60-unit apartment community located in Arcata. The property offers a mix of 18 studio units, 20 one-bedroom units, and 22 two-bedroom units. Solar panels have been installed across three of the five buildings. The property is exempt from California’s statewide rent control (AB 1482) due to its 2013 construction. The property is located in Arcata, near Cal Poly Humboldt. The university’s recent transition into the Cal Poly system, supported by over $458 million in funding to expand STEM programs and increase enrollment, is expected to significantly strengthen housing demand and further tighten the local rental market.
Key Highlights
- Exempt from California's statewide rent control (AB 1482) due to 2013 construction, allowing for market‑based rent adjustments.
- Newer vintage construction (2013) in a supply‑constrained Northern California university market.
- Strong and growing rental demand driven by proximity to Cal Poly Humboldt.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$353,802
Cap Rate
4.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,076,040
$7.1M
Cap Rate 7%
$5,054,314
$5.1M
Cap Rate 9%
$3,931,133
$3.9M
Market Conditions
NOI Build-Up for 29,712 SF
Gross rent
$691.7K $23.28/SF
− Vacancy
−$48.4K −$1.63/SF
EGI
$643.3K $21.65/SF
− OpEx
−$289.5K −$9.74/SF
NOI
$353.8K $11.91/SF
Area
Humboldt County, CA
Vacancy
7.00%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,076,040
Cap Rate 7%
$5,054,314
Cap Rate 9%
$3,931,133
Alternative Uses
Best Use
Apartment 5plus
$5.05M
$4.42M – $5.90M
NOI $353,802 @ 7.0% cap · market cap 4.25%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$11.22M
$9.82M – $13.09M
NOI $785,436 @ 7.0% cap · market cap 9.43%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
969
Businesses Nearby
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Business Placement
Demographics for 95521, CA
21,581
Population
9,797
Households
2.2
Avg Household Size
30
Median Age
45%
College-Educated
95%
High-School Grad
60.4 sq mi
ZIP Area
357
Density / Sq Mi
$54,324
Median Household Income
$24,129
Median Earnings
$1,300
Median Rent
$478,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - 60-unit apartment community built in 2013 near Cal Poly Humboldt.
Where is this apartment building located?
The property is located at 305 Union St Arcata, CA.
What is the asking price?
The asking price for this property is $8,325,000.
What are key features of this property?
This property features: Exempt from California's statewide rent control (AB 1482) due to 2013 construction, allowing for market‑based rent adjustments.; Newer vintage construction (2013) in a supply‑constrained Northern California university market.; Strong and growing rental demand driven by proximity to Cal Poly Humboldt.
