Description

Summerfield Apartments is a 26-unit, low-rise multifamily property at 598 N. Walton Ave in Yuba City, CA. The property is 96% occupied, with average rent of $1,003 per month, positioning the acquisition around an existing residential income stream.

Built in 1990, the property contains 15,087 SF on 0.71 acres. Its 1BR unit mix and average unit size of 580 SF give the buyer a consistent apartment format to operate and underwrite. On-site laundry provides a shared resident amenity, while covered parking adds a practical feature for daily use. Parking totals 30 Spaces at a ratio of 1.15 Spaces/Unit, making the parking arrangement clear alongside the unit count. The property has 1 available unit. Together, the unit format, amenities and parking define the resident experience and the scope of day-to-day operations.

The asking price is $3,900,000, or $150,000 per unit, with an asking price of $258.50 PSF. In-place NOI is $175,558 and the in-place cap rate is 4.50%, giving investors a basis for considering the price against current income. At 96% occupancy, the acquisition is centered on an operating apartment property rather than a vacant building. The consistent 1BR mix keeps the operating profile focused, while the available unit gives a buyer a distinct part of the property to address alongside the occupied apartments. Summerfield Apartments presents an investment defined by its current occupancy, resident amenities and in-place financial performance.