4923 Cowell Blvd Davis, CA 95618

Property Details for 4923 Cowell Blvd

Year built

1969

Property size

3,522 SF

Property type

Commercial real estate

APN

068-071-006-000

Description

This exceptional 4-unit apartment building, located at 4923 Cowell Blvd in Davis, CA, presents a compelling investment opportunity. Built in 1969 and renovated in 2023, this Class B property boasts 3,522 square feet on a spacious 10,120 square foot lot. The property features four units, each approximately 753 square feet, with two bedrooms and one bathroom. Currently enjoying 100% occupancy (as of August 1, 2024), the property generates a substantial net operating income (NOI) of $71,425, resulting in a 7.15% cap rate. A pro-forma NOI of $20,401 and a pro-forma cap rate of 2.04% are also available. The property includes six parking spaces. Situated in a desirable neighborhood near UC Davis, this property benefits from its proximity to the university, local amenities, and convenient access to major transportation routes. The asking price is $999,000, translating to $249,750 per unit. The property is held in trust and is not subject to a ground lease. The large lot size presents potential for future development, subject to buyer verification. This stabilized investment offers a strong return and significant upside potential in a thriving rental market. The property's recent renovations ensure long-term value and minimal maintenance needs. This is a rare opportunity to acquire a well-maintained, high-performing multifamily property in a prime Davis location.