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    960 Marlene St, Unit Apartments Ukiah, CA 95482
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    960 Marlene St, Unit Apartments Ukiah, CA 95482

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    • Apartment buildings
    • 22,211 SF
    For Sale
    $3,485,000
    View Listing →
    Ukiah Valley Multifamily Investment Opportunity For Sale
    $3,485,000
    22,211 SF

    Ukiah Valley Multifamily Investment Opportunity

    20-unit multifamily complex in Ukiah Valley with strong cash flow.

    960 - 979 Marlene Street Apartments, Ukiah, CA 95482
    View Listing
    Property ID
    US09-1227528
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 960 Marlene St

    Year built
    1983
    Property size
    22,211 SF
    Property type
    Apartment buildings

    Description

    Rare opportunity for investors and developers alike, this Ukiah Valley 20-unit multi-family complex offers terrific cash flow and a stable tenant base. A 1985 subdivision converted this multi-family property into condominiums on 20 individual legal parcels, these townhomes are currently rented with strong rents. All units are 2 bedroom, 1.5 baths with a well-designed and spacious floor plan, large upstairs bedrooms with jack-and-jill bathroom and ample closets, central HVAC, fireplaces and private fenced yards. Amenities include on-site laundry facilities, in-ground pool, and carports plus additional on-site paved parking. Impeccably maintained landscaping with majestic redwoods and underground utilities creates a parklike setting at the end of a cul-de-sac in a desirable centrally located neighborhood. The City of Ukiah recently approved a minor subdivision and rezoning creating a separate 1.07 acre parcel that is not included in this offering, and 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. Ukiah is in the heart of Mendocino County Wine Country, under two hours to the Golden Gate Bridge and one hour north of the Sonoma County Airport.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Ukiah
    County
    Mendocino
    State
    California
    Longitude
    -123.197518
    Latitude
    39.137991

    Comparable in this City

    • $3,995,000
      22,211 SF

      Ukiah Valley Multifamily Investment Opportunity

      20-unit complex on 2.3 acres with expansion potential.
      960 Marlene St, Ukiah, CA 95482
      View Details
    • Contact for pricing

      Renovated Five-Unit Multifamily Complex

      Completely renovated five-unit complex with modern amenities and strong rental demand.
      2020 Dora St, Ukiah, CA 95482
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    • $1,399,000
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      Ukiah Income and Development Opportunity

      Seven units on 1.8 acres with development potential.
      2140 South State St, Ukiah, CA 95482
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    • $150,000
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      Ukiah Manor Oaks Mobile Home

      Mobile home located in Ukiah Manor Oaks Mobile Home Park.
      700 E Gobbi St, Ukiah, CA 95482
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      600 SF

      Mobile Home in Ukiah Park

      Mobile home for sale in Rancho Del Rey Park.
      660 Leslie St, Ukiah, CA 95482
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    • $119,999
      616 SF

      Ukiah Mobile Home Park

      Mobile home park in Ukiah, California.
      311 Lake Mendocino Dr, Ukiah, CA 95482
      View Details

    Similar Nearby for Sale

    • $1,399,000
      8,620 SF

      Ukiah Income and Development Opportunity

      Seven units on 1.8 acres with development potential.
      2140 South State St, Ukiah, CA 95482
      View Details
    • $3,995,000
      22,211 SF

      Ukiah Valley Multifamily Investment Opportunity

      20-unit complex on 2.3 acres with expansion potential.
      960 Marlene St, Ukiah, CA 95482
      View Details
    • Contact for pricing

      Renovated Five-Unit Multifamily Complex

      Completely renovated five-unit complex with modern amenities and strong rental demand.
      2020 Dora St, Ukiah, CA 95482
      View Details
    • Contact for pricing
      600 SF

      Mobile Home in Ukiah Park

      Mobile home for sale in Rancho Del Rey Park.
      660 Leslie St, Ukiah, CA 95482
      View Details
    • $150,000
      1,100 SF

      Ukiah Manor Oaks Mobile Home

      Mobile home located in Ukiah Manor Oaks Mobile Home Park.
      700 E Gobbi St, Ukiah, CA 95482
      View Details
    • $119,999
      616 SF

      Ukiah Mobile Home Park

      Mobile home park in Ukiah, California.
      311 Lake Mendocino Dr, Ukiah, CA 95482
      View Details

    Similar Nearby for Lease

    • $2,000 /Mo
      2,000 SF

      Downtown Ukiah Commercial Space Available

      Prime commercial space in Ukiah's established business district.
      252 N State St, Ukiah, CA 95482
      View Details
    • Contact for pricing

      Ukiah Flex/Industrial Space Available

      Flex/Industrial space for rent in Ukiah, California.
      2020 Industry Rd, Ukiah, CA 95482
      View Details
    • Contact for pricing

      Ukiah Retail/Office Space Available

      Retail or office spaces for lease in Ukiah's Airport Business Park.
      1252 Airport Park Blvd, Ukiah, CA 95482
      View Details
    • Contact for pricing

      Pad Site For Ground Lease

      Pad site for ground lease with highway visibility.
      437 N Orchard Ave, Ukiah, CA 95482
      View Details
    • $2,595 /Mo
      5,227 SF

      Retail/Office Space Near Courthouse

      Ground floor retail or office space in prime location.
      School St, Ukiah, CA 95482
      View Details
    • Contact for pricing

      Grocery-Anchored Retail Center Space

      Retail spaces available in a community shopping center.
      504-570 N Orchard Ave, Ukiah, CA 95482
      View Details
    View Listing
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    Ukiah, CA 95482
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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