Ridgeview Manor Senior Living

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Address: 2980 Coloma St, Placerville, CA 95667, USA

California & West + Apartment Buildings

Created date: April 19, 2024

Date last updated: September 4, 2024

• 31-Bed single room occupancy
• 6-Bedroom/3-Bathroom home
• Renovated in 2018
• Cap rate based on actuals
• On-site management currently in place
• Pitched Roofs
• Spacious lot
• On-Site Laundry

Property Description

Colliers is pleased to present Ridgeview Manor Senior Living, a 31-bed single room occupancy community & a 6-bedroom/3-bathroom single family home all located on .46 Acres. The subject property is in a nice residential neighborhood just a stone’s throw away from Downtown Placerville. Residents benefit from being walking distance and drivability to a vast amount of employment, shopping, and dining experiences. Being well located next to Highway 50 which is a major thoroughfare through El Dorado County. This unique asset gives the next investor the opportunity to acquire a 9.70% Cap rate on actuals which is nearly impossible to find in this sub market. A new owner will be able to further enhance the cash flow by increasing rents to market rate as units turnover while also increasing income through rent increases to capture the loss-to-lease gap on longer term tenants.

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Key Property Information

Listing Status:	Available
Listing Type:	Highest & best offer
Property Types:	Apartment Buildings
Price:	$1,500,000
No. of Units:	32
Cap Rate:	9.70%
GRM /GIM:	6.90
Average Occupancy:	81
Year Built:	1875
Year Renovated:	1910
Building Size:	12,800 Sq ft
Lot Size:	0.46 Acres
No. of Stories:	2
APN:	001-161-027
Zoning Code:	R106
Opportunity Zone:	No
Price per unit:	$46,875