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536-540 2nd Street

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Address: 536 Second St, Yuba City, CA 95991, USA

California & West + Apartment Buildings

Created date: June 4, 2024

Date last updated: October 9, 2024

• Fully remodeled in 2023
• Modern design and vibe
• Mixed-Use Investment
• Six – Apartment units
• Four – Retail/Office suites
• In-unit washer and dryer
• New flooring throughout
• Individual water heaters
• All new cabinets and countertops

Property Description

We are pleased to present this mixed-use investment opportunity comprised of six (6) apartment units and four (4) retail/office suites located at 536-540 2nd Street, Yuba City, CA 95991. The property was fully renovated in 2023 to provide a new owner with a modern complex that will require minimal maintenance over time. The property consists of two-parcels that site on 0.19 acres and the building is approximately 13,376 square feet of usable space. There is a combination of one and two-bedroom apartment units that were remodeled to a standard that meets the live-work lifestyle of today. The retail/office suites have been renovated as well and tenants have made additional interior improvements to meet their business needs. Renovations within the apartment units are extensive. There was nothing that went untouched as the existing owner had an eye for detail. The units feature large skylights with high ceilings that create a feeling of open space. The flooring in every room is plank with all new cabinets, counter tops, and bathroom vanities. Each unit has an in-unit washer dryer along with video doorbell security system plus pre-wired for cable and internet. There are ceiling fans within the units along with ductless mini-split systems in each unit for heating and air. As a new owner it is recommended, that annually residents are provided the allowable state rent increase and over time maximizing rent on turnover, plus implementing a RUBS program. Owners throughout the region are using a bill back program, Ratio Utility Billing System, with a portion of the common area utilities being charged to the tenants. These rates for apartments are typically between $25-$75 per unit and $100-$150 for the commercial suites. In the proforma pricing, it was projected to be $50 per apartment unit each month and $100 per commercial space. Yuba City is experiencing an impressive upward trend in growth and development in housing, business, and recreation. Recent city improvements that were designed to create a vibrant, welcoming environment in the downtown corridor include the refurbishment of the water tower with a new city logo and multicolored LEDs, and a plaza park that will accommodate playground, stage, and an illuminated gateway arch in the downtown entrance. For more information, please contact: Alex Farhang Associate +1 916 265 5192 [email protected] CA Lic. 02141654

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Key Property Information

Listing Status:	Unavailable
Listing Type:	Highest & best offer
Property Types:	Apartment Buildings
Price:	$1,450,000
No. of Units:	10
Cap Rate:	6.56%
GRM /GIM:	9.58
Average Occupancy:	100
Year Built:	1910
Year Renovated:	2023
Building Size:	13,376 Sq ft
Lot Size:	0.19 Acres
No. of Stories:	2
APN:	052-514-009, -010
Opportunity Zone:	No
Price per unit:	$145,000