$807,500
$829,000
2.6%For more information regarding the value of a property, please contact us for a free consultation.
0.25 Acres Lot
SOLD DATE : 12/20/2022
Key Details
Sold Price $807,500
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID OR22155732
Sold Date 12/20/22
HOA Y/N No
Year Built 1985
Lot Size 10,890 Sqft
Property Description
1199 Melton Drive offers a truly unique opportunity to purchase a stable asset with a true value-add component without any major on capital projects. Furthermore, Yuba and Sutter counties are expected to see a huge surge in apartment demand while experiencing virtually zero new housing construction.
The property offers a unique value -add opportunity that's been proven by ownership in one of California's hottest growth markets. Roughly 40 percent of the unit interiors have been upgraded in the last couple of years. The next owner can follow the proven renovation spec and recapture more than 18 percent loss to lease on the July 2022 rent roll.
Location
State CA
County Sutter
Zoning R3
Interior
Cooling Central Air
Fireplaces Type Family Room
Fireplace Yes
Laundry Common Area
Exterior
Garage Spaces 6.0
Garage Description 6.0
Pool None
Community Features Gutter(s), Storm Drain(s), Street Lights, Suburban, Sidewalks
Utilities Available Natural Gas Connected, Sewer Connected, Water Connected
Total Parking Spaces 12
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 2
Entry Level Two
Sewer Septic Tank
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 51151009
Acceptable Financing Conventional
Listing Terms Conventional
Financing Cash
Special Listing Condition Standard
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Bought with Shan Wedgwood • Marcus & Millichap
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "