626 S Auburn St
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626 S Auburn St
11 Unit Block of Flats £1,438,776 (£130,798/Unit) 5.15% Net Initial Yield Grass Valley, CA 95945
Investment Highlights
- Adjacent to Hwy 49
- ideal for investors seeking a turnkey opportunity
Executive Summary
Charming 11-unit cottage-style residential income property situated among the trees in the picturesque town of Grass Valley, just minutes from downtown. Conveniently close to shopping, recreation, a wide variety of restaurants, and numerous year-round community events, all within a short walk or drive. Each of the 11 units has been lovingly renovated, and the property offers future expansion potential on approximately 0.5 acres in the back left corner of the parcel, with prior verbal approval from the county for a duplex and ADU, or a single-family residence and an ADU. Verification with the county is recommended to confirm the potential for future development. The property is expertly managed by TK Property Management, which handles both standard tenants and Airbnb bookings, optimizing income through a mixed revenue approach. Airbnb guests typically stay for over three months and include traveling professionals like nurses and contractors at Beale. This property is ideal for investors seeking a turnkey opportunity with a proven track record of maximum profitability and high occupancy rates.
Property Facts
| Price | £1,438,776 | Building Class | C |
| Price Per Unit | £130,798 | Lot Size | 1.37 AC |
| Sale Type | Investment | Building Size | 4,940 SF |
| Net Initial Yield | 5.15% | Average Occupancy | 0% |
| Gross Rent Multiplier | 12.25 | Number of Floors | 1 |
| No. Units | 11 | Year Built | 1937 |
| Property Type | Residential | Parking Ratio | 3.24/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low Rise |
| Price | £1,438,776 |
| Price Per Unit | £130,798 |
| Sale Type | Investment |
| Net Initial Yield | 5.15% |
| Gross Rent Multiplier | 12.25 |
| No. Units | 11 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 1.37 AC |
| Building Size | 4,940 SF |
| Average Occupancy | 0% |
| Number of Floors | 1 |
| Year Built | 1937 |
| Parking Ratio | 3.24/1,000 SF |
| Opportunity Zone |
Yes |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Cable Ready
- Microwave
- Heating
- Ceiling Fans
- Kitchen
- High Speed Internet Access
- Refrigerator
- Oven
- Range
- Tub/Shower
- Dining Room
- Double Pane Windows
- Family Room
- Window Coverings
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 8 | £1,093 | 325 |
| 2+1 | 2 | £867.26 | 605 |
| Studios | 1 | £898.44 | 306 |
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Walk Score ®
Very Walkable (78)
PROPERTY TAXES
| Parcel Number | 029-241-007-000 | Improvements Assessment | £834,909 |
| Land Assessment | £278,302 | Total Assessment | £1,113,211 |
PROPERTY TAXES
Parcel Number
029-241-007-000
Land Assessment
£278,302
Improvements Assessment
£834,909
Total Assessment
£1,113,211
zoning
| Zoning Code | NC-Flex (Multi-family) |
| NC-Flex (Multi-family) |
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Berkshire Hathaway HomeServices NorCal Real Estate
626 S Auburn St
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