Camellia Apartments

505-525 I Street, Davis, CA

$6,800,000

Price

4.57%

Cap Rate

$310,720

NOI

Overview
Cap Rate
4.57%
NOI
$310,720
Building Size
20,850 sqft
Lot Area
0.75 acres
Units
30
Year Built
1960
Zoning
R-2
Floors
2
Roof
Pitched-Asphalt Shingles
Heating
Wall
Cooling
Wall
Description

KW Commercial is pleased to present Camellia Apartments, a remarkable investment opportunity, a 30-unit apartment complex located in the vibrant city of Davis, California. This meticulously maintained property offers an exceptional mix of comfort, convenience, and potential for investors seeking long-term returns.

Situated in an enviable location, just minutes away from the renowned University of California, Davis campus (37,000 Students), this apartment complex is ideally positioned to attract students, faculty, and young professionals. With its close proximity and walking distance to downtown, you’ll find streets lined with boutiques, galleries, bars, coffee shops, and restaurants serving comfort foods as well as cuisines from around the world which presents an irresistible proposition for those seeking a desirable living experience.

Camellia Apartments is comprised of (24)two-bedroom one-bathroom units and (6)one-bedroom one-bathroom units all on a 0.75 acre parcel zoned R-2. The complex comprises 30 thoughtfully designed units, each offering a range of layouts to suit different lifestyles. Residents will also appreciate the on-site amenities, including parking, laundry facilities, and well-manicured landscaped communal areas.

Investors will be pleased to know that the property has a strong rental history, providing a steady income stream. Davis, with its highly regarded educational institutions and bustling local economy, ensures a consistent demand for quality housing resulting in less than 2% average vacancy throughout the last decade.

This offering presents an exceptional opportunity to acquire a well-positioned and well-maintained apartment complex in one of California's most sought-after cities. Whether you're an experienced investor looking to expand your portfolio or a newcomer seeking a lucrative investment in the thriving Davis market, this 30-unit apartment complex is an opportunity not to be missed.


Davis, California is home to nearly 70,000 residents, making it the most populous city in Yolo County,  considered to be one of the most bike-friendly in the Country, and one of the best places to live in California. Although the city is well known for its inception as an agricultural and farming community, the establishment in 1908 of the University of California’s University Farm, later to become UC Davis, has closely tied the city to the University.

While Davis’s location is approximately 15 miles west of Sacramento, it provides residents with the isolation that's vital to fostering a college-town setting while also offering lively and large metropolitan areas within close proximity. Apartment transaction pace is very low in Davis. The combination of stringent growth restrictions imposed by the city, high-barrier costs for land and development coupled by the increasingly high demand created by the expanding enrollment at UC Davis, has resulted in an extremely limited inventory of housing and a lengthy history of low vacancies. The culmination of these unique elements results in owners of peace of mind, ease of management, and stable growth of income.

Education is a central aspect of Davis, with UC Davis being one of the city's major economic and cultural contributors. The university is renowned for its programs in agriculture, veterinary medicine, and environmental science, among others. The presence of the university also brings a youthful and diverse population to the city.

Davis has a well-planned layout that encourages cycling and walking, making it one of the most bicycle-friendly cities in the United States. The city's extensive network of bike paths and lanes, along with its flat terrain, makes it easy for residents to commute, exercise, and explore the area by bike. Additionally, the Unitrans bus system provides convenient public transportation options.

Davis has a thriving arts and cultural scene. The Mondavi Center for the Performing Arts at UC Davis attracts renowned artists and performers from around the world. The city also hosts several annual events and festivals, including the Whole Earth Festival, which celebrates sustainability and creativity. The local economy is diverse, with a mix of industries including education, healthcare, agriculture, and technology. The presence of UC Davis contributes significantly to research and development activities, fostering innovation and entrepreneurship in the city.

Overall, Davis is a progressive and inclusive city that values education, sustainability, and community engagement. With its strong sense of environmental responsibility, commitment to education, and diverse cultural offerings, Davis remains an attractive place to invest, live, work, and study.

Location