Gilbert Avenue Apartments

$3,500,000

243 Gilbert Avenue, Oakdale, CA 95361

For Sale

Multifamily

Active

Last Updated: 07/25/2024

Details:

Cap Rate: 5.51%

NOI: $193,003

Pro Forma Cap Rate : 6.84%

Building Size: 16,600 sqft

Lot Area: 23,552 sqft

Occupancy: 98%

Class: B

Units: 22

GRM: 11.76

Year Built: 1979

Price Per Sqft: $210.84

Price Per Unit: $159,091

Offered by Broker

Jason Winter

Jason Winter - Rand Commercial Properties

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Highlights:

Prime Location - Situated just steps away from Oakdale's sole high school and a stone's throw from the bustling F Street retail hub, this property boasts an unbeatable location that promises high visibility and foot traffic for potential tenants.
Capital Improvements - Elevate your investment portfolio with this lucrative opportunity at 243 Gilbert Ave. Witness the transformation with recent capital improvements, ongoing unit upgrades, fresh landscaping, and new roofs on all buildings.. Maximize your ROI potential and secure your financial future with this prime multi-family property.

Description:

Don't miss out on this exclusive chance to own a fully occupied apartment complex in the heart of Oakdale, CA. Boasting a sought after unit mix of 16 two-bedroom, one-bathroom units and 6 one bedroom, one-bathroom units, this property is a gem waiting to be discovered. Situated on a corner lot, there's ample space for recreation or extra parking. With a track record of consistently high occupancy rates and the potential for rent hikes, this investment opportunity is a dream come true for savvy investors looking to maximize their returns.