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    960 Marlene St Ukiah, CA 95482

    Sponsored
    For Sale
    $3,780,000

    20-Unit Apartment Complex, Strong Cash Flow

    Property size:
    22,211 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 20-unit apartment complex in Ukiah, California presents a rare investment opportunity. Situated on a 2.3-acre lot, this property boasts 22,211 square feet of living space, comprised of twenty two-bedroom, one-and-a-half-bathroom units. Each unit features a spacious floor plan, central HVAC, fireplaces, and a private fenced yard. Residents enjoy amenities such as on-site laundry facilities, an in-ground pool, carports, and additional paved parking. The meticulously maintained landscaping, featuring majestic redwood trees and underground utilities, creates a park-like setting at the end of a cul-de-sac in a desirable, centrally located neighborhood. Currently operating as a stable rental property with strong rental income, this complex offers significant potential for investors and developers. The property was originally a 1985 subdivision converted into condominiums on 20 individual legal parcels. Note that the City of Ukiah recently approved a minor subdivision and rezoning, creating a separate 1.07-acre parcel not included in this offering. The entire property will be rezoned to R2 zoning, resulting in some changes to assessor's parcel numbers upon recording of final subdivision maps. Conveniently located in the heart of Mendocino County Wine Country, this property is less than two hours from the Golden Gate Bridge and one hour north of the Sonoma County Airport. The asking price for this lucrative investment is $3,780,000.

    Property Features for 960 Marlene St

    General Information

    Property type
    Multifamily properties
    Square Feet
    22,211 SF
    Lot Size
    100,188 SF

    Building Details

    Units
    20
    Property Profile Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    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
    Ukiah
    County
    Mendocino
    State
    California
    Longitude
    -123.1963935
    Latitude
    39.1381859

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    FAQs

    What type of property is this?
    Multifamily property - 20-Unit Apartment Complex, Strong Cash Flow
    Where is this multifamily property located?
    The property is located at 960 Marlene St Ukiah, CA.
    What is the asking price?
    The asking price for this property is $3,780,000.
    Request Owner's contact information
    960 Marlene St Ukiah, CA 95482
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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
    960 Marlene St Ukiah, CA 95482
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