380 Granite Avenue, Arcata, CA 95521

This multifamily property features seven units in two buildings, designed in a mid-century architectural style. The property is located within 50 feet of the Cal Poly Humboldt campus and has been under single-family ownership since 1962. The apartments are described as light and bright, with vaulted ceilings and large view windows. Each unit includes a fully contained kitchen and a bathroom with a shower, sink, and toilet. Carports and off-street parking are available. Interior finishes include wood wall paneling, low-pile carpeting, and vinyl flooring. The property consists of two buildings. Building 2, located at 380 Granite and constructed in 1975, contains three units and features double-pane windows. Building 1 has four units and single-pane windows. Heating is provided by wall heaters or baseboard heaters. Tenants are responsible for utilities, while the owner covers water and sewer expenses. Each apartment has a unique layout. New roofs were installed on Apt 3a in 2001, Apts 1,2,3 in 2019 and Apts 4,5,6 in 2022. The seller has maintained the apartments in good condition, regularly cleaning, painting, and re-carpeting as needed during tenancy turnovers, and completing any necessary updates or repairs. The lot size is 0.37 acres and the property size is 4791 square feet. The zoning is Multi-Family. The property is located almost directly across from Jolly Giant Commons on the Cal Poly campus. There will be three vacancies that allow a landlord to raise the rents. Apt 1 is vacant, but refurbished, and can rent as soon as closing happens. Apt 3 will be re-rented by June 1. And Apt 3A will be leaving at the end of August and can be -re-rented. All other leases expire June 1, 2027, except Apartment 4, which only has a lease until end of December, 2026.