2351 Westwood Ct - Apartments FOR SALE


Arcata, CA 95521
$14,300,000 USD
916-724-1324
2351 Westwood Ct, Arcata, CA for Sale
$14,300,000 USD
Apartments - FOR SALE
1/11
null | 5.87% Cap Rate

2351 Westwood Ct
Arcata, CA 95521


HIGHLIGHTS

  • Recent Expansion – 32 new solar-equipped units added in recent years, enhancing efficiency.
  • Development Opportunity – Active Arcata permit for 70 more units with utilities already stubbed in.
  • Strong Asset Quality – Spacious units in a well-maintained complex with high pride of ownership.

OVERVIEW

** THIS PROPERTY IS ALSO OFFERED AS PART OF A 495-UNIT PORTFOLIO IN ARCATA, CA - See OM for more details ** Marcus & Millichap is pleased to present Westwood Garden Apartments comprised of 92 multifamily units and strategically located at 2351 Westwood Court in Arcata, CA. Westwood Garden was originally built as a 60-unit complex in 1968 and sits on a large 5.60 acre lot. Recently, the owner developed an additional 32 units converting the complex into a 92-unit project. Additionally, there were plans to add 70 units—and current active permit to do so with the city of Arcata—to make it a 162-unit complex. These phases were put on hold; however, all of the underground utilities, including water/sewer, have been installed and stubbed in providing ready-to-build value to the savvy developer. The unit mix is comprised of: (44) One bedroom units averaging 457 sq ft and $1,207 Rent (40) Two bedroom units averaging 840 sq ft and $1,367 Rent (8) One bedroom units averaging 980 sq ft and $1,542 Rent Arcata, nestled in Humboldt County, is renowned for its scenic beauty, vibrant arts scene, and proximity to key employment and education hubs, including Cal Poly Humboldt University. The property benefits from its central location, offering easy access to downtown Arcata, local shops, restaurants, and the Arcata Marsh & Wildlife Sanctuary. This prime location ensures asteady rental demand, supported by the region's growing economy and limited housing supply.

FOR SALE DETAILS

PRICE

$14,300,000 USD

PRICE/SF

$232 USD /SF

# OF UNITS

92

PRICE/UNIT

$155,435

CAP RATE

5.87%

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Westwood Garden Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1967

PARKING SPACES

-

LAND DETAILS

LAND ACRES

5.6 AC

LAND SF

243,936 SF

ZONING

ML

APN/PARCEL ID

505-161-028-000

ASK ABOUT THIS PROPERTY

Aaron MoayedMarcus & MillichapMore Info
916-724-1324

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Aaron MoayedMarcus & MillichapMore Info
916-724-1324

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.