Ukiah Valley Multifamily Investment
960 - 979 Marlene Street Apartments Ukiah, CA 95482
960 - 979 Marlene Street Apartments, Ukiah, CA, 95482
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For Sale
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20-unit multifamily complex in Ukiah Valley with strong cash flow.
Property Size22,211 SF
Lot Size1.07 Acres
Price / SF$144.07
Days on Market634
Property Features for 960 - 979 Marlene Street Apartments
General Information
- Standard status
- Active
- Size
- 22,211 SF
- Lot size
- 1.07 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1983
Listing agency
Coldwell Banker Mendo Realty Ukiah
(707) 462-5400
Listed by
John L. Lazaro · License #00928841
Source
Crexi
Added: Oct 26, 2024 Updated: Jul 6 at 8:41AM Checked: Jul 21 at 12:42PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Mendo Realty Ukiah
Investment Insights
Based on property information with market context.
This Ukiah Valley multi-family complex features 20 units and offers a stable tenant base. Originally a 1985 subdivision, the property was converted into condominiums on 20 individual legal parcels. The townhomes are currently rented. Each unit includes 2 bedrooms, 1.5 baths, a spacious floor plan, large upstairs bedrooms with a jack-and-jill bathroom, ample closets, central HVAC, fireplaces, and private fenced yards. On-site amenities include laundry facilities, an in-ground pool, carports, and additional paved parking. The property features landscaping with redwoods and underground utilities, creating a park-like setting at the end of a cul-de-sac in a centrally located neighborhood. The property spans 22211 square feet. A minor subdivision and rezoning were recently approved by the City of Ukiah, creating a separate 1.07 acre parcel that is not included in this offering. The entire property will be rezoned to R2 zoning. Some AP numbers will change with the recording of the final subdivision maps and re-zoning. The property is located in Mendocino County Wine Country, under two hours from the Golden Gate Bridge and one hour north of the Sonoma County Airport.
Key Highlights
- 20‑unit multi‑family complex offering terrific cash flow with strong rents and a stable tenant base.
- Each unit is a 2 bedroom, 1.5 bath townhome featuring a spacious floor plan, central HVAC, fireplace, and private fenced yard.
- Located in a desirable, centrally located neighborhood at the end of a cul‑de‑sac.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $359.8k | $16.20 |
| − Vacancy | −$16.2k | −$0.73 |
| EGI | $343.6k | $15.47 |
| − OpEx | −$154.6k | −$6.96 |
| NOI | $189.0k | $8.51 |
22,211 SF · lease $16.20/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.70M
$2.36M – $3.15M
NOI $188,995 @ 7.0% cap · market cap 5.91%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$8.30M
$7.27M – $9.69M
NOI $581,274 @ 7.0% cap · market cap 18.16%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - 20-unit multifamily complex in Ukiah Valley with strong cash flow.
Where is this apartment building located?
The property is located at 960 - 979 Marlene Street Apartments Ukiah, CA.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: 20‑unit multi‑family complex offering terrific cash flow with strong rents and a stable tenant base.; Each unit is a 2 bedroom, 1.5 bath townhome featuring a spacious floor plan, central HVAC, fireplace, and private fenced yard.; Located in a desirable, centrally located neighborhood at the end of a cul‑de‑sac.
