475 Spring St 12 Unit Apartment Building $2,814,609 CAD ($234,551 CAD/Unit) 7.12% Cap Rate Nevada City, CA 95959

ALIVE Commercial Real Estate, as the exclusive listing agent, is pleased to present 475 Spring Street, a 12-unit multifamily investment opportunity located in the highly desirable Sierra foothill community of Nevada City, California. The property offers investors the opportunity to acquire a stabilized apartment community in one of Northern California’s most supply-constrained and lifestyle-driven rental markets. Constructed in approximately 1964, the property consists of a well-balanced unit mix of four one bedroom/one-bathroom units and eight two-bedroom/one-bathroom units, appealing to a broad tenant base including local professionals, service workers, and long-term residents seeking housing in Nevada City’s charming historic environment. Situated on approximately 1.48 acres, the property benefits from a tranquil, wooded setting that reflects the natural character of Nevada City while remaining just minutes from the city’s historic downtown district. The Nevada City and Grass Valley area continues to experience strong rental demand driven by its proximity to Sacramento, the growth of remote work, and the region’s exceptional outdoor recreation opportunities including hiking, mountain biking, river access, and skiing in nearby Lake Tahoe. With limited new multifamily development and significant development constraints, Nevada County remains a high barrier-to-entry market, supporting long-term occupancy stability and rent growth. 475 Spring Street represents a compelling opportunity for investors to acquire a well-located multifamily asset offering stable in-place income, upside in rental revenue, and long-term appreciation potential in one of Northern California’s most desirable foothill communities.