Building Details

Building Size 4,270 SF

Year Built 1998

Buildings 2

Stories 1

Listing Agency: W Real Estate

Listed By: Todd Schapmire · License #01414195 Show Phone

Source: Thebrokerlist

Added: Oct 16 Last Checked: Oct 16 at 2:16PM

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Investment Insights

Based on property information with market context.

Two single-story apartment buildings contain five ground-level residences on a fully fenced 0.28-acre parcel. The mix consists of three two-bedroom, one-bath units and two one-bedroom, one-bath units. On-site laundry and parking serve the property, which was built in 1998. All five apartments are leased.

The property is at 757 Waugh Lane in Ukiah, near Gobbi Street and Highway 101. Downtown Ukiah is accessible from the site.

Key Highlights

• Five leased apartments: three two‑bedroom, one‑bath units and two one‑bedroom, one‑bath units
• Two single‑story buildings with ground‑level residences
• Fully fenced 0.28‑acre parcel

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$36,334

Cap Rate

4.04%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$726,680 $726.7K

Cap Rate 7%

$519,057 $519.1K

Cap Rate 9%

$403,711 $403.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,270 SF

Gross rent

$69.2K $16.20/SF

− Vacancy

−$3.1K −$0.73/SF

EGI

$66.1K $15.47/SF

− OpEx

−$29.7K −$6.96/SF

NOI

$36.3K $8.51/SF

Area

Mendocino County, CA

Vacancy

4.50%

Lease Rate

$16.20 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$726,680

Cap Rate 7%

$519,057

Cap Rate 9%

$403,711

Alternative Uses

Best Use

Apartment 5plus

$519.1K

$454.2K – $605.6K (±1% cap)

NOI $36,334 @ 7.0% cap · market cap 4.04%

Second Best

—

—

no second resolved use

Theoretical Best

Flex RnD

$1.60M

$1.40M – $1.86M (±1% cap)

NOI $111,748 @ 7.0% cap · market cap 12.43%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Catering Service (Bike/Boat/Book/etc) Store Pet Grooming Service Carpet & Flooring Store Restaurant Florist

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

5

Residential units

100%

Occupancy

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

1,282

Businesses Nearby

Explore this area Business Placement

Demographics for 95482, CA

33,276

Population

13,143

Households

2.5

Avg Household Size

39

Median Age

21%

College-Educated

84%

High-School Grad

294.2 sq mi

ZIP Area

113

Density / Sq Mi

$70,063

Median Household Income

$38,707

Median Earnings

$1,335

Median Rent

$473,000

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

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Frequently Asked Questions

What type of property is this?

Apartment building - Two single-story buildings offer ground-level apartments with on-site laundry and parking.

Where is this apartment building located?

The property is located at 757 Waugh Lane Ukiah, CA.

What is the asking price?

The asking price for this property is $899,000.

What are key features of this property?

This property features: Five leased apartments: three two‑bedroom, one‑bath units and two one‑bedroom, one‑bath units; Two single‑story buildings with ground‑level residences; Fully fenced 0.28‑acre parcel