JUST SOLD

College Street | 26 Units | Woodland, CA

Price: $2,025,000

College Street is a well maintained asset with sustained exterior, interior, and mechanical improvements and has demonstrated a strong operational history. The property is currently 100% Occupied. 

 

 

College StreetValue-Add Increase Rents by 10% to Market Average

Property Highlights

 

  • Rare Multifamily Investment Opportunity in Woodland, CA
  • 100% Occupied with Strong Performance History
  • Huge 'Value-Add' Opportunity to Increase Rents by 10% to Current Market Levels
  • Woodland Apartment Rents Projected to Increase by 15% Over the Next Three Years
  • Tremendous Rental Market with Nearly Zero Vacancy and Strong Y-O-Y Rent Growth

 

'Value Add' Opportunity

College Street is a well maintained asset with sustained exterior, interior, and mechanical improvements and has demonstrated a strong operational history. The property is currently 100% occupied. College Street represents a rare and unique opportunity to acquire a fully occupied, stable property and increase rents by nearly 10% to align with market levels. Furthermore, rents in Woodland are expected to increase by more than 15% by 2019. Woodland’s limited amount of apartment inventory and nearly zero ‘market-rate’ apartments in the construction pipeline has created a favorable environment with low vacancy and significant upward pressure on rents and in turn values.

Woodland's close proximity to Davis and Sacramento, two of the best rental markets in the country, has fueled feverish demand for housing.  The limited stock of apartment units with no significant contstruction pipeline has resulted in nearly zero vacancy and strong rental growth with many properties having waiting-lists of renters.