Blue Heron Gardens | 6687 Blue Heron Dr
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Blue Heron Gardens 6687 Blue Heron Dr
25 Unit Block of Flats £2,777,698 (£111,108/Unit) 5.83% Net Initial Yield Upper Lake, CA 95485
Investment Highlights
- Attractive 25 Unit Apartment Complex in Upper Lake, CA
- Common Area To Enjoy BBQ's PLUS Across the Street from the Shoreline of Clear Lake for Additional Recreation
- 5 Separate Buildings- 21 Two BR Townhomes & 4 One BR Flats
Executive Summary
Owner has Beautifully maintained Blue Heron Gardens--continuously upgrading during his 25 years of operation. Each of the 25 Units have their own carport w plenty of additional parking. There are 5 buildings on 5 separate legal lots each with their own private balcony-- 3 Fourplexes, one 5 Unit, & one 8 Unit bldg. An added "perk" (in addition to being a quality investment)is that it's in Lake County, CA--known to be an "outdoor paradise." For an investor from out of town, site visits would be something to look forward to! Across the street is the beautiful Clear Lake at over 68 square miles, which is CA's largest freshwater Lake. (Tahoe's larger but shared by NV). Nearby, residents and visitors can enjoy PICTURESQUE views, excellent restaurants, & plentiful parks & trails along with camping, boating, skiing, swimming & kayaking. Clear Lake is known as "The Bass Capital of the West," where famous fishing contests are held frequently. Water birds are plentiful-- including egrets, swans, BLUE HERONS, & pelicans. Bordering Napa County, Lake County is known for vineyards too--with over 9,000 acres planted, and over 30 "world class wineries" to visit. Upper Lake in Lake County is just 30 miles East of Ukiah in Mendocino County, 75 Northeast of Santa Rosa in Sonoma County, 75 miles North of Napa, and 125 miles North of San Francisco & Sacramento.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£264,800
|
£13.58
|
| Other Income |
£3,286
|
£0.17
|
| Vacancy Loss |
£7,942
|
£0.41
|
| Effective Gross Income |
£260,144
|
£13.34
|
| Taxes |
£35,210
|
£1.81
|
| Operating Expenses |
£62,596
|
£3.21
|
| Total Expenses |
£97,806
|
£5.02
|
| Net Operating Income |
£162,338
|
£8.33
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | £264,800 |
| Annual Per SF | £13.58 |
| Other Income | |
|---|---|
| Annual | £3,286 |
| Annual Per SF | £0.17 |
| Vacancy Loss | |
|---|---|
| Annual | £7,942 |
| Annual Per SF | £0.41 |
| Effective Gross Income | |
|---|---|
| Annual | £260,144 |
| Annual Per SF | £13.34 |
| Taxes | |
|---|---|
| Annual | £35,210 |
| Annual Per SF | £1.81 |
| Operating Expenses | |
|---|---|
| Annual | £62,596 |
| Annual Per SF | £3.21 |
| Total Expenses | |
|---|---|
| Annual | £97,806 |
| Annual Per SF | £5.02 |
| Net Operating Income | |
|---|---|
| Annual | £162,338 |
| Annual Per SF | £8.33 |
Property Facts
| Price | £2,777,698 | Apartment Style | Townhome |
| Price Per Unit | £111,108 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.08 AC |
| Net Initial Yield | 5.83% | Building Size | 19,500 SF |
| Sale Conditions | 1031 Exchange | Average Occupancy | 100% |
| No. Units | 25 | Number of Floors | 2 |
| Property Type | Residential | Year Built/Renovated | 1992/2023 |
| Property Subtype | Apartment | Parking Ratio | 2.56/1,000 SF |
| Price | £2,777,698 |
| Price Per Unit | £111,108 |
| Sale Type | Investment |
| Net Initial Yield | 5.83% |
| Sale Conditions | 1031 Exchange |
| No. Units | 25 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | B |
| Lot Size | 0.08 AC |
| Building Size | 19,500 SF |
| Average Occupancy | 100% |
| Number of Floors | 2 |
| Year Built/Renovated | 1992/2023 |
| Parking Ratio | 2.56/1,000 SF |
Unit Amenities
- Air Conditioning
- Balcony
- Heating
- Refrigerator
- Oven
- Range
- Double Pane Windows
Site Amenities
- Courtyard
- Laundry Facilities
- Picnic Area
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 2+1.5 | 21 | £953.02 | 540 |
| 1+1 | 4 | £681.12 | 800 |
1 of 1
zoning
| Zoning Code | R3 (Multi-Family Residential) |
| R3 (Multi-Family Residential) |
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Blue Heron Gardens | 6687 Blue Heron Dr
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