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kiddermathews.com
11-unit Multifamily Centrally located
FOR SALE
Yreka, CA 315 3rd Street
Jay Richter, CCIM 916.751.3609 [email protected] #01305696
Sean Gallinger 916.751.3604 [email protected] #01944291
Nik Harmon 916.751.3624 [email protected] #02016311
Jay Richter, CCIM 916.751.3609 [email protected] #01305696
Sean Gallinger 916.751.3604 [email protected] #01944291
Nik Harmon 916.751.3624 [email protected] #02016311
This information supplied herein is from sources we deem reliable. It is provided without any representation, warranty or guarantee, expressed or implied as to its accuracy. Prospective Buyer or Tenant should conduct an independent investigation and verification of all matters deemed to be material, including, but not limited to, statements of income and expenses. Consult your attorney, accountant, or other professional advisor.
kiddermathews.com
Yreka, CA 315 3rd Street
Property Description
BUILDING Single & 2-story wood frame construction
YEAR RENOVATED 2014
APN #s 053-204-250 & -240
RENTABLE SF ±6,000 SF
PARCEL SIZE ±.548 AC (±.27 AC each)
ROOF Shingle
HEATING Wall unit
WINDOWS Mostly double pane
WATER HEATING Common-circulating system
LAUNDRY On-site
PARKING (GRAVEL) 8-10 off street spaces and non-metered street
EXTRA PARCEL May be developed into a single family home or sold off to leverage investment
N
Jay Richter, CCIM 916.751.3609 [email protected] #01305696
Sean Gallinger 916.751.3604 [email protected] #01944291
Nik Harmon 916.751.3624 [email protected] #02016311
This information supplied herein is from sources we deem reliable. It is provided without any representation, warranty or guarantee, expressed or implied as to its accuracy. Prospective Buyer or Tenant should conduct an independent investigation and verification of all matters deemed to be material, including, but not limited to, statements of income and expenses. Consult your attorney, accountant, or other professional advisor.
kiddermathews.com
Yreka, CA 315 3rd Street
Property OverviewLocated in Yreka’s Historic District and surrounded by large Victorian style carriage homes
Conveniently located in downtown, just two blocks from the main downtown strip which is adorned with restaurants, cafés, Etna Tap Room, and general retail
The additional lot to the south of the Property is zoned R-1 and is currently being used as a private park and community garden with a charming farm feel
The Property has fruit trees, a picnic area, horse shoe pit, chicken coop with fresh eggs, and deer fencing
Renovated in 2014
Each unit was stripped and redone with new carpets, linoleum, updated bathroom fixtures, new kitchens, double pane windows, new steel and concrete stairwell and fresh paint throughout
All single story units have their own dedicated backyard space
On site laundry room ±7’x14’
Maintenance area / shop ±10’x10’
Existing maintenance / Tenant on site (ask Broker)
COMMUNITY GARDEN
Jay Richter, CCIM 916.751.3609 [email protected] #01305696
Sean Gallinger 916.751.3604 [email protected] #01944291
Nik Harmon 916.751.3624 [email protected] #02016311
This information supplied herein is from sources we deem reliable. It is provided without any representation, warranty or guarantee, expressed or implied as to its accuracy. Prospective Buyer or Tenant should conduct an independent investigation and verification of all matters deemed to be material, including, but not limited to, statements of income and expenses. Consult your attorney, accountant, or other professional advisor.
kiddermathews.com
Yreka, CA 315 3rd Street
N
3rd
Str
eet
N Foothill Drive
S O
rego
n S
tree
t
S M
ain
Str
et
N M
ain
Str
eet
Yama Street
South Street
Jackson Street
W Miner Street
Etna Tap Room
Poor George’s
The Purple Plum
Chevron
Siskiyou County Superior CourtBottling Works Mall Shopping Center
Strings Italian Café
Rex Club
Round Table Pizza
Rite Aid
Best Western
Econo Lodge
Brand N Iron Restaurant & Bar
Budget Inn
Yreka MotelSUBJECT PROPERTY
Jay Richter, CCIM 916.751.3609 [email protected] #01305696
Sean Gallinger 916.751.3604 [email protected] #01944291
Nik Harmon 916.751.3624 [email protected] #02016311
This information supplied herein is from sources we deem reliable. It is provided without any representation, warranty or guarantee, expressed or implied as to its accuracy. Prospective Buyer or Tenant should conduct an independent investigation and verification of all matters deemed to be material, including, but not limited to, statements of income and expenses. Consult your attorney, accountant, or other professional advisor.
kiddermathews.com
Yreka, CA 315 3rd Street
Financials
Price $795,000
Price/Unit $72,272
Price/SF $132.50
Down Payment $238,500
Cap Rate 6.0%
GRM9.25
based on 2017
• 2018 Projections are slightly lower than EOY 2017 due to existing tenant prepaying rent in advance
• Coin Op Laundry would increase income
• Building size and unit size are estimates and will be determined during escrow
• Unit #6 is under a USDA program - tenant always pays in arrears at end of month
• Subject market is significantly under built and has a nearly non-existent vacancy rate. Market rents are $660 for 1 bedroom units
Jay Richter, CCIM 916.751.3609 [email protected] #01305696
Sean Gallinger 916.751.3604 [email protected] #01944291
Nik Harmon 916.751.3624 [email protected] #02016311
This information supplied herein is from sources we deem reliable. It is provided without any representation, warranty or guarantee, expressed or implied as to its accuracy. Prospective Buyer or Tenant should conduct an independent investigation and verification of all matters deemed to be material, including, but not limited to, statements of income and expenses. Consult your attorney, accountant, or other professional advisor.
kiddermathews.com
Yreka, CA 315 3rd Street
Address Qty Units Year Built Unit Type(s) Sale Date Sales Price Price/Unit Price/SF Cap Rate
132 3rd StWoodland, CA 95695 6 N/Av (6) 1BD/1BA 10/9/2017 $565,000 $94,167 $156.94 5.43%
912 Blue StMarysville, CA 95901 4 N/Av (4) 2BD/1BA 1/5/2017 $592,000 $148,000 $170.70 N/Av
1134 Le Brun LnRedding, CA 4 1956 (4) 3BD/2BA 1/31/2017 $580,000 $145,000 $120.83 7.0%
5909 Pony Express Trl Pollock Pines, CA 95726 5 1946
(1) 1BD/1BA
(2) 1BD/1BA
(1) 2BD/1BA
(1) 3BD/1BA
12/19/2017 $1,205,250.00 $70,897.00 $116.20 6.22%
Sales Comparables
