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1597 Bruce Dr 40 Unit Apartment Building $5,304,496 CAD ($132,612 CAD/Unit) Anderson, CA 96007
EXECUTIVE SUMMARY
The Heitzeberg Group of Marcus & Millichap is pleased to present Park Village Apartments, a compelling value-add investment opportunity located in Anderson, CA - just 10 miles or approximately 15 minutes south of Redding. This well-positioned asset offers investors the chance to capitalize on significant upside potential through under-market rents in a growing submarket of Shasta County.
The property features a diverse and well-balanced unit mix consisting of 7 three-bedroom units, 24 two-bedroom units, and 9 one bedroom units, spread across a spacious 2.5-acre lot. Anderson benefits from its proximity to Redding, the largest city in Shasta County with a population of around 92,000. Redding serves as a regional hub in Northern California, located approximately 150 miles north of Sacramento. Its strategic location near the Sacramento and Keswick Rivers, as well as outdoor destinations like Shasta-Trinity National Forest and Lassen Volcanic National Park, makes it a magnet for both residents and tourists. The local economy is supported by key employers such as Shasta Regional Medical Center and the Redding School District, with additional growth driven by tourism and outdoor recreation. This economic diversity enhances the stability and long-term appeal of multifamily investments in the region.
Priced at just $95,000 per unit, Park Village Apartments offers a clear path to increased returns through rent optimization and unit renovations. This is a rare opportunity to acquire a well-located, value-add producing asset with substantial upside in Northern California.
The property features a diverse and well-balanced unit mix consisting of 7 three-bedroom units, 24 two-bedroom units, and 9 one bedroom units, spread across a spacious 2.5-acre lot. Anderson benefits from its proximity to Redding, the largest city in Shasta County with a population of around 92,000. Redding serves as a regional hub in Northern California, located approximately 150 miles north of Sacramento. Its strategic location near the Sacramento and Keswick Rivers, as well as outdoor destinations like Shasta-Trinity National Forest and Lassen Volcanic National Park, makes it a magnet for both residents and tourists. The local economy is supported by key employers such as Shasta Regional Medical Center and the Redding School District, with additional growth driven by tourism and outdoor recreation. This economic diversity enhances the stability and long-term appeal of multifamily investments in the region.
Priced at just $95,000 per unit, Park Village Apartments offers a clear path to increased returns through rent optimization and unit renovations. This is a rare opportunity to acquire a well-located, value-add producing asset with substantial upside in Northern California.
PROPERTY FACTS
| Price | $5,304,496 CAD | Building Class | C |
| Price Per Unit | $132,612 CAD | Lot Size | 2.50 AC |
| Sale Type | Investment | Building Size | 40,000 SF |
| No. Units | 40 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1964 |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Price | $5,304,496 CAD |
| Price Per Unit | $132,612 CAD |
| Sale Type | Investment |
| No. Units | 40 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 2.50 AC |
| Building Size | 40,000 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1964 |
| Opportunity Zone |
Yes |
AMENITIES
UNIT AMENITIES
- Eat-in Kitchen
- Refrigerator
- Range
SITE AMENITIES
- Laundry Facilities
- Pool
- Property Manager on Site
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 9 | - | - |
| 2+1 | 24 | - | - |
| 3+1 | 7 | - | - |
1 1
PROPERTY TAXES
| Parcel Number | 202-600-014-000 | Improvements Assessment | $845,896 CAD |
| Land Assessment | $208,210 CAD | Total Assessment | $1,054,105 CAD |
PROPERTY TAXES
Parcel Number
202-600-014-000
Land Assessment
$208,210 CAD
Improvements Assessment
$845,896 CAD
Total Assessment
$1,054,105 CAD
CONTACTS
-
Isaak Heitzeberg -
Delaney Whitaker -
Andres Guerra -
Marcus and Millichap Investment Services
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1597 Bruce Dr
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