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    1475 Baechtel Rd Willits, CA 95490

    For Sale
    $11,900,000

    101-Unit Value-Add Multifamily in Willits, CA

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    366
    This exceptional 101-unit apartment building, Redwood Meadows, presents a compelling value-add investment opportunity in Willits, California. Located at 1475 Baechtel Rd, 95490, this single-story, 1989-built Class B property boasts a current occupancy rate of 97%, projected to reach full occupancy by August 12, 2024. The property features a mix of studio, one-bedroom, and two-bedroom units (4 studios, 58 one-bedrooms, and 39 two-bedrooms), totaling 7.18 acres of land with potential for expansion. Current Net Operating Income (NOI) stands at $779,449, with a pro-forma NOI of $1,013,620, yielding a current cap rate of 6.55% and a pro-forma cap rate of 8.52%. The asking price is $11,900,000, translating to $117,821.78 per unit. Conveniently situated near the Senior Center, this property benefits from its central location, providing easy access to shopping, healthcare, and entertainment. On-site amenities include a clubhouse, garden, new drought-tolerant landscaping, and rentable storage units. The property is zoned for residential use and allows for the addition of up to 15 more units. An existing loan of approximately $4,600,000 is assumable at a 5.13% interest rate, with the lender permitting a second loan to be placed on the property. This presents a rare opportunity to acquire a stable, cash-flowing senior apartment complex with significant upside potential through rent increases and expansion. The property is offered fee simple.

    Property Features for 1475 Baechtel Rd

    General Information

    Property type
    Multifamily properties
    Class
    B

    Building Details

    Year Built
    1989
    Stories
    1
    Units
    101

    HighLights

    • 101‑unit apartment building in Willits, CA, offering a value‑add investment opportunity.
    • 97% occupancy, projected to reach 100% by August 12, 2024.
    • 7.18‑acre site with potential for 15 additional units.
    • $11,900,000 asking price, $117,822 per unit; current NOI $779,449, pro‑forma NOI $1,013,620; current cap rate 6.55%, pro‑forma cap rate 8.52%.
    • Assumable loan of $4,600,000 at 5.13% interest, with lender allowing a second loan.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Redwood Meadows Senior ... Apartment Complex Redwood Meadows Senior ... Retirement Home Redwood Meadows Senior ... Garden

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Willits
    County
    Mendocino
    State
    California
    Longitude
    -123.3437825
    Latitude
    39.3958931

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    FAQs

    What type of property is this?
    Multifamily property - 101-Unit Value-Add Multifamily in Willits, CA
    Where is this multifamily property located?
    The property is located at 1475 Baechtel Rd Willits, CA.
    What is the asking price?
    The asking price for this property is $11,900,000.
    What are key features of this property?
    This property features: 101-unit apartment building in Willits, CA, offering a value-add investment opportunity.; 97% occupancy, projected to reach 100% by August 12, 2024.; 7.18-acre site with potential for 15 additional units.
    Request Owner's contact information
    1475 Baechtel Rd Willits, CA 95490
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1475 Baechtel Rd Willits, CA 95490
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