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Alpha Road Apartments 1109 Alpha Rd 7 Unit Apartment Building $1,880,334 CAD ($268,619 CAD/Unit) 8.43% Cap Rate Turlock, CA 95380
Investment Highlights
- Excellent opportunity for an investor to purchase a stabilized apartment asset in a competitive “CollegeTown” market with low vacancy & rising rents.
- Attractive in-place 8%+ cap rate and priced below replacement cost.
- Major recent capital expenditures include a new roof, HVACs, exterior stucco & paint, dual-pane windows, exterior fencing and landscaping.
- Spacious Two and Three Bedroom units that have been recently renovated.
Executive Summary
Situated in the heart of Turlock, California, 1109 Alpha Road offers an exceptional opportunity for either first time or experienced investors. The property consists of a total of eight (8) units, including seven (7) two-bedroom apartments (ranging from approximately 650 & 864 sq. ft. each) and one (1) three-bedroom apartment (approximately 1,128 sq. ft. each). Each unit has been recently renovated to meet modern living standards, with energy-efficient dual-pane windows, central heat and air systems and updated interiors.
Ownership has made considerable investments to ensure the property is in excellent condition, including a new roof, new exterior stucco and paint, and modernized HVAC systems. These upgrades provide long-term value and reduce future maintenance costs. Located in a rapidly growing region, Turlock’s vibrant community and proximity to educational institutions, cultural amenities, and recreational activities make this property a highly attractive rental option for tenants. With its appealing location and
enhanced amenities, 1109 Alpha Road represents a strong and stable investment in a dynamic and evolving market. This is an opportunity to acquire a high-demand asset in one of California’s most promising growth areas at a competitive price point, offering both immediate returns and long-term appreciation potential.
Ownership has made considerable investments to ensure the property is in excellent condition, including a new roof, new exterior stucco and paint, and modernized HVAC systems. These upgrades provide long-term value and reduce future maintenance costs. Located in a rapidly growing region, Turlock’s vibrant community and proximity to educational institutions, cultural amenities, and recreational activities make this property a highly attractive rental option for tenants. With its appealing location and
enhanced amenities, 1109 Alpha Road represents a strong and stable investment in a dynamic and evolving market. This is an opportunity to acquire a high-demand asset in one of California’s most promising growth areas at a competitive price point, offering both immediate returns and long-term appreciation potential.
Property Facts
| Price | $1,880,334 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $268,619 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.24 AC |
| Cap Rate | 8.43% | Building Size | 6,748 SF |
| Gross Rent Multiplier | 7.48 | No. Stories | 2 |
| No. Units | 7 | Year Built | 1969 |
| Property Type | Multifamily | Parking Ratio | 1.19/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | RL, Turlock | ||
| Price | $1,880,334 CAD |
| Price Per Unit | $268,619 CAD |
| Sale Type | Investment |
| Cap Rate | 8.43% |
| Gross Rent Multiplier | 7.48 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.24 AC |
| Building Size | 6,748 SF |
| No. Stories | 2 |
| Year Built | 1969 |
| Parking Ratio | 1.19/1,000 SF |
| Zoning | RL, Turlock |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Oven
- Range
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 3 | - | - |
| 2+1.5 | 3 | - | - |
| 3+1.5 | 1 | - | - |
1 1
Fairly walkable
40/100
Exceptionally drivable
90/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 043-29-25 | Improvements Assessment | $840,484 CAD |
| Land Assessment | $311,559 CAD | Total Assessment | $1,152,043 CAD |
Property Taxes
Parcel Number
043-29-25
Land Assessment
$311,559 CAD
Improvements Assessment
$840,484 CAD
Total Assessment
$1,152,043 CAD
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Alpha Road Apartments | 1109 Alpha Rd
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