The Ida Group

TURLOCK: TURTLE CREEK APARTMENTS PORTFOLIO 2019

Available: $8,080,000

Pro Forma CAP Rate: 7.97% | Rentable SF: 52,260 | Price/Rentable SF: $154 | Price/Unit: $128,254 | Parcel Size: 103,673 SF (2.38 AC) | Year Built: 1987

 
 

INVESTMENT HIGHLIGHTS

  • High growth rental market with rapid population expansion and Cal State Stanislaus nearby.

  • Portfolio sale of three separate properties, each on its own distinct parcel allowing potential future upside through individual sale.

  • Strong unit mix with forty-four, two-bedroom/1-bath single level floorplans of approximately 750 square feet and nineteen, three-bedroom/one and a half townhouse style floorplans of approximately 1,020 square feet.

  • Great intrinsic value of $154 per square foot and $128,254 per unit (with huge floorplans).

  • Separately metered for PG&E with onsite laundry for Turtle Creek I, and in-unit washer dryer hook-ups for Turtle Creek II and Turtle Creek Townhomes.