Created date: September 30, 2023
Date last updated: September 30, 2023
• Two fourplexes with two separate APN numbers
• Subject property qualifies for residential financing
• Each unit is a 772 sq. ft., 2bed/1bath apartment
• Remodeled and beautifully maintained property
• Excellent rental market with almost no new inventory
• 1979 Construction with pitched roofs and stucco exterior
• Large lot with eight garages on-site
Colliers is pleased to present 2654 & 2660 Woodridge Court, a rare opportunity to purchase a well-kept and remodeled pair of 4-unit apartment complexes on two separate parcels. The subject property is located in a nice residential neighborhood of Placerville which is located in El Dorado County. This unique investment sits on a .42 Acre lot with two matching 4-unit buildings facing each other with a nice spacious lot and beautiful landscape.
The Woodridge Court Apartments consist of two, two story structures that were both constructed in 1979 which matching amenities. The subject property comes with a stucco exterior, beautiful landscape in the courtyard area and plenty of parking. The unit mix consists of eight 2-bedroom/1-bathroom units that all average around 775 square feet! A few new recent upgrades also include new white cabinets, vinyl plank flooring, quartz & granite countertops, new ceiling fans and updated bathrooms, new doors, Central heating and air conditioning and matching new appliances. The roof is approximately ten (10) years old, and the building has a brand new 100-gallon hot water heater. This beautiful investment gives an investor the opportunity to purchase 8 Units with a residential loan that only requires a 25% downpayment. This would also be a great investment for an Owner/User to come in with around 5-20% for your first investment property!
Tenants are responsible for gas and electricity within their unit, while the owner pays water, sewer, and garbage. The new owner can implement a Ratio Utility Billing System (RUBS) to bill a portion of these charges to the residents which is becoming more common in California. These charges are around $25-75 per unit in addition to the residents’ standard monthly rental payment depending on the amount of people in each unit. Also, there can be additional income by charging for the parking to the residents on top of their monthly rental rate.