308 N Washington St - Apartments FOR SALE


Sonora, CA 95370
$1,699,000 USD
209-521-1591
308 N Washington St, Sonora, CA for Sale
$1,699,000 USD
Apartments - FOR SALE
1/4
null | 6.53% Cap Rate

308 N Washington St
Sonora, CA 95370


OVERVIEW

Welcome to the Washington Square Apartments!This property boasts a location that cannot be beat and a history of high occupancy. The apartments consist of 16 units including a single family home. The +/-0.4 acres is situated less than a quarter mile from the charming, downtown Sonora. The property has historically been operated as a 55+community given the smaller unit mix and parking requirement,however there are no deed restrictions or affordability requirements. Ownership has conducted all the heavy lifting here. The property’s exterior has received new siding and paint, and 7 interiors have been updated. A new owner will have an opportunity to continue remodeling unit interiors upon achieving a vacancyin order to bring rents up to market. Rents on the property are over 15% below market. Additionally, the property is zoned General Commercial which allows for potential future development.

FOR SALE DETAILS

PRICE

$1,699,000 USD

PRICE/SF

$302 USD /SF

# OF UNITS

16

PRICE/UNIT

$106,188

CAP RATE

6.53%

% LEASED

-

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1949

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.36 AC

LAND SF

15,658 SF

ZONING

C

APN/PARCEL ID

001-091-002-000

ASK ABOUT THIS PROPERTY

Jacob FriedrichCoSoL Commercial Real EstateMore Info
209-521-1591

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Jacob FriedrichCoSoL Commercial Real EstateMore Info
209-521-1591

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