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$ 6,499,990
Est. payment /mo
New
615 S Demaree ST Visalia, CA 93277
87 Beds
40 Baths
34,038 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 34,038 sqft
Price per Sqft $190
MLS Listing ID 651465
Bedrooms 87
Full Baths 40
HOA Y/N No
Year Built 1973
Lot Size 1.410 Acres
Property Sub-Type Multi Family
Property Description
Giant Sequoia Village at 615 S Demaree St is a 40 unit multifamily community offered at an approximately 6.3 percent day-1 cap rate. This is a value acquisition built on strong in-place cash flow. The property generates over $51,700 per month in scheduled rents, delivering an attractive going-in yield from day one. The unit mix consists of 33 two bedroom one bathroom units and 7 three bedroom one bathroom units, with no studios or one bedrooms. These family sized floor plans average roughly 850 square feet and total 34,038 square feet on a 1.41 acre lot. The asset is well positioned for a hands-off owner, with on-site management, two laundry rooms leased through WASH, and a swimming pool. In-place rents also sit modestly below market on a number of long tenured leases, offering incremental upside over time. Multifamily assets of this scale rarely trade in Visalia, making this an excellent fit for 1031 exchange buyers, regional operators expanding in the Central Valley, and investors seeking durable stabilized cash flow.
Location
State CA
County Tulare
Interior
Cooling Central Heat/Cool
Fireplaces Type None
Appliance Washer/Dryer(s) Leased
Exterior
Parking Features Carport, Covered, Open
Community Features Pool, On-Site Manager
Utilities Available Public Utilities
Roof Type Composition
Building
Lot Description Suburban
Story 2
Foundation Concrete Perimeter
Water Public
Schools
High Schools Visalia Schools
Listed by The JKRE Investment Group