1150 El Margarita Rd Yuba City, CA 95993

Property Details for 1150 El Margarita Rd

Year built

1938

Lot size

2.50 lot acres

Property size

5,500 SF

Property type

Residential income homes

APN

62-082-003

Description

This exceptional 7-unit multifamily investment opportunity in Yuba City, CA, presents a compelling proposition for discerning investors. The property, encompassing 2.5 acres zoned for 8 units per acre, comprises three duplexes and a separate 1600 sq ft house with shops and an office. Each duplex features covered parking and fenced yards. The main house offers significant potential for conversion into additional rental units, providing further upside. Currently boasting 100% occupancy since May 30, 2022, the property generates a strong NOI of $74,000, with a pro-forma NOI projected at $85,200, reflecting a 3.92% cap rate and a pro-forma cap rate of 4.51%. The total square footage is between 5,500 and 6,500 sq ft, with a net rentable area of 5,500 sq ft. Built between 1938 and 1949, the property is undergoing ongoing renovations. The property's prime location near shopping centers, top-rated schools (including a newer high school), and the expanding Hendon Ranch Subdivision contributes to its strong rental demand. The Yuba City planning department has expressed support for increasing multi-family housing in the area, suggesting potential for future development and increased value. The asking price is $1,890,000, representing a price per unit of $270,000. The property is offered fee simple, with 7 parking spaces and is situated on a lot with a land value of $1,000,000/SF. The permitted zoning is R-1. This is a rare opportunity to acquire a well-performing multifamily portfolio in a rapidly growing market.