CLOSED · SALE · TURLOCK

1108, 1119 & 1230 Pioneer Ave / Colorado Ave

Turlock, CA

Transaction Value

$7,900,000

Size

63-Unit Multi-Family Portfolio (Turtle Creek Apartments) | Rentable SF: 52,260 | Parcel Size: 103,673 SF (2.38 AC) | Year Built: 1987

Year Closed

2019

PROPERTY PHOTOS

TRANSACTION SUMMARY

Sale closed in Turlock, CA

The Ida Group represented this sale transaction at 1108, 1119 & 1230 Pioneer Ave / Colorado Ave in Turlock, CA, closed in 2019. The Ida Group has sold this 63-unit Turlock portfolio three times: in 2012 for $2,725,000, in 2018 for $6,800,000 and in 2019 for $7,900,000. The property totals 63-Unit Multi-Family Portfolio (Turtle Creek Apartments) | Rentable SF: 52,260 | Parcel Size: 103,673 SF (2.38 AC) | Year Built: 1987.

This is one of 150+ industrial and commercial real estate transactions The Ida Group has closed across the Bay Area and beyond. Contact us for full transaction details or to discuss a similar opportunity.

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 SF and nineteen three-bedroom/1.5-bath townhouse-style floorplans of approximately 1,020 SF
Great intrinsic value of $154 per square foot and $128,254 per unit
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

LOCATION

1108, 1119 & 1230 Pioneer Ave / Colorado Ave, Turlock, CA

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