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Apartment Properties
These are better priced apartment listings available in Northern California. For more information, or to find a property that meets your requirements, please call John Bremner at 415-234-6093. Principals Only, Please.
1) San Francisco - 7U: $1,550,000, $265/SF, 12 x Gross, 6.0% Cap Rate. Located in Lower Pacific Heights, this is a mixed use building with a two room retail unit, plus three 1BR units, two 2BR units, and one 3BR unit. Owner provides hot and cold water, garbage and steam heat.
2) San Jose - 16U : $1,895,000, $182 per SF, 8.7 x Gross, 6.9% Cap Rate. This is a 16 unit complex with eight 1BR, and eight 2BR units, located near schools, restaurants and stores.
3) Santa Clara - 19U: $2,500,000, $214 per SF, 9.4 x Gross. Quiet apartment complex with garden setting, five 2BR, fourteen 1BR units, near shopping center and Kaiser.
4) Sebastopol - 21U: $1,995,000, $95K per Unit, $151 per SF, 7.9 GRM, 7.0% Cap Rate. This is a 21 unit apartment complex in Sebastopol, California, conveniently located within walking distance of downtown, near shopping, hospitals, parks and transportation. The complex is comprised of two 3BR Units @ $1,250, fifteen 2BR Units @ $1,025, three 1BR Units @ $875, and one Studio @ $650. The property is a garden style apartment complex with a pool and landscaping in the center. All units are individually metered, and most units have new dual pane windows and new water heaters.
5) Rohnert Park - 24U: $3,495,000, $150K per Unit, $128 per SF, 9.8 GRM, 6.7% Cap Rate. These units are priced as an apartment building, but they were built and approved in 1982 as individual PUD units. They have never been offered for sale individually. The units are spacious one and two bedroom townhouses.
6) Novato - 39U: $6,700,000, $172K per Unit, $226 per SF, 9.9 GRM, 6.3% Cap Rate. Rare Marin County offering, 39 Unit apartment complex on lush hillside with views. Historically low turnover and strong demand. Thirty six 2BR units @ $1,500, and three Studios @ $1,300.
7) Oakland - 16U: $1,050,000, $66K per Unit, $140 per SF, 7.2 Gross, 7.2% Cap Rate. This is a traditional apartment building with 16 units. This is a generally well maintained property, with several recent upgrades, including new formica countertops, new carpeting, new appliances (gas ranges and refrigerators), and new exterior paint. The building has on-site laundry facilities, a front security gate, and private on-site gated parking. Offered at $1,050,000, $65,625 per unit, $140 per SF, 7.2 GRM, 7.2% cap rate.
8) Oakland - 8 U: $1,200,000, 10.1 x Gross, 7.1% Cap Rate. A well maintained building, renovated in 2006 with new plumbing, electric, roof, etc. Separately metered. Good rental area in Temescal district. Offered at $1,200,000, 10.1 x Gross, 7.1% cap rate.
9) Concord - 9U: $1,249,000, $115 SF, 9.7 GRM, 6.7% Cap Rate. These are well maintained garden apartments with attractive landscaping, consisting of eight 2BR Units and a single family residence. Separately metered, new copper piping and interior upgrades, parking for 9+. Offered at $1,249,000, $115 per SF, 9.7 x Gross, 6.7% cap rate.
10) Oakland - 20U: $1,595,000, $99 per SF, 7.4 x gross, 7.1% Cap Rate. Residential neighborhood with spacious units, walking distance to shops, BART, Lake Merritt, buses. Updated appliances and cabinets. Offered at $1,595,000, $99 per SF, 7.1% cap rate.
11) Berkeley - 22U: $2,950,000, $205 SF, 9.5 GRM, 6.3% Cap Rate. Near the UC Berkeley campus, these 22 units in three buildings on two parcels, consist of 2 studios, 14 1BR, five 2BR, and 1 3BR Penthouse with upside on the rents.
12) Concord - 69U: $6,800,000, $99K per Unit, $156 per SF, 8.4 GRM, 6.7% Cap Rate. Sunset Pines consists of fifty five 1BR Units @ $920, and fourteen 2BR Units @ $1,120. Recent upgrades include new tile flooring, newer appliances and cabinets. The property provides secured coded entry for parking.
13) SHORT SALE - 74U: $2,960,000, $40K per Unit, $52 per SF, 5.5 x Gross , 7.2% Cap Rate. This apartment complex offers 41 1BR Units (680 SF), and 33 2BR Units (875 SF), located in a quiet residential neighborhood. Laundry, storage and parking facilities. Offered at $2,960,000, 5.5 x Gross, 7.2% cap rate.
14) Sacramento - 64 Units - Assumable Loan: $3,150,000, $49K per Unit, $70 per SF, 5.6 x Gross, 8.6% Cap Rate. This is a two story garden style apartment complex with studios, one bedroom and two bedroom units located in the Arden Arcade area near freeway, public transportation and shopping. Interiors were renovated in 2004-2005, with a new roof in 2004. There is an existing loan of approximately $2,000,000 which may be assumed. Offered at $3,150,000, 5.6 x gross, 8.6% cap rate.
15) REO - 53 Units: $2,175,000, $41K per Unit, $59 per SF. Bank owned apartment complex with 31 2BR units, and 22 1BR units. Priced below replacement cost - value added opportunity. 5.2 x Gross, 8.1% Cap Rate. Offered at $2,175,000 - seller will entertain offers.
16) Stockton - 38 Units: $2,400,000, $63K per Unit, $70 per SF. All 2BR units. 7.4 x Gross, 7.9% Cap Rate.
17) REO - 69U: $3,400,000, $49K Per Unit, $57 per SF. This is a fully entitled condominium project, with 69 two bedroom 870 SF units being rented @ $810, with stacked washer/dryer hookups, wood burning fireplaces, dishwashers, etc. Offered at $3,400,000, 4.9 x gross rent, pro forma cap rate of 9.4%.
For More Information, Please Call John Bremner at 415-234-6093. Principals Only, Please.
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