3251 N. State Street
Property Description
Cash cow! A unique income-producing asset on State Street that delivers a 7.37% cap rate across multiple revenue streams in one of Mendocino County's most accessible commercial corridors! This mixed-use multi-family offering combines 9 garden-level apartment units, one 2/1 house, 14 mobile home sites, and a standalone commercial building on a single 2.13-acre parcel with direct frontage on North State Street and Lake Mendocino Drive along with immediate proximity to Highway 101. The property's diversified rent roll spreads risk across apartments and mobile home space rent tenancy while offering value add potential with the commercial building. Its location places tenants within easy reach of Ukiah's core and regional traffic flow, supporting long-term occupancy and visibility. For an investor seeking stabilized cash flow with multiple income sources, this configuration offers both downside protection and room to add value!
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $2,500,000 |
| No. of Units: | 24 |
| Lot Size: | 2.13 Acres |
| Opportunity Zone: | No |
| Price per unit: | $104,167 |
| Property Website | Click Here |
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