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7047 Norman Rd 8 Unit Apartment Building $1,241,383 CAD ($155,173 CAD/Unit) 8.82% Cap Rate Princeton, CA 95970
Executive Summary
8-unit residential portfolio in Princeton, California. The property consists of eight individual single family houses on one 40,000 square foot lot, totaling approximately 6,300 square feet of living space.
Unit mix: three 3-bedroom, 1-bath houses and five 2-bedroom, 1-bath houses.
Currently fully rented at $8,800 per month in combined rent(rent has not been increased since may of '25). Connected to city water and city sewer. Several units have been remodeled, and several have newer roofs.
Asking price: $895,000. Seller financing available with a decent down payment.
More financial information:
Purchase price: $895,000
Down payment (25%): $223,750
Loan: $671,250
Interest: 5.5%
Amortization: 25 years
Monthly mortgage: ˜ $4,122
Annual mortgage: ˜ $49,465
Gross rental income: $105,600/year
Operating expenses: $26,624/year
Net Operating Income (NOI):
$105,600 - $26,624 = $78,976/year
Cash flow after mortgage:
$78,976 - $49,465 = $29,511/year
That's approximately $2,459/month positive cash flow.
NOI $78,976
Cap rate 8.82%
Annual cash flow after debt $29,511
Monthly cash flow $2,459
Down payment $223,750
Cash-on-cash return 13.19%
Unit mix: three 3-bedroom, 1-bath houses and five 2-bedroom, 1-bath houses.
Currently fully rented at $8,800 per month in combined rent(rent has not been increased since may of '25). Connected to city water and city sewer. Several units have been remodeled, and several have newer roofs.
Asking price: $895,000. Seller financing available with a decent down payment.
More financial information:
Purchase price: $895,000
Down payment (25%): $223,750
Loan: $671,250
Interest: 5.5%
Amortization: 25 years
Monthly mortgage: ˜ $4,122
Annual mortgage: ˜ $49,465
Gross rental income: $105,600/year
Operating expenses: $26,624/year
Net Operating Income (NOI):
$105,600 - $26,624 = $78,976/year
Cash flow after mortgage:
$78,976 - $49,465 = $29,511/year
That's approximately $2,459/month positive cash flow.
NOI $78,976
Cap rate 8.82%
Annual cash flow after debt $29,511
Monthly cash flow $2,459
Down payment $223,750
Cash-on-cash return 13.19%
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,241,383 CAD | Apartment Style | Garden |
| Price Per Unit | $155,173 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.93 AC |
| Cap Rate | 8.82% | Building Size | 6,400 SF |
| Gross Rent Multiplier | 8.47 | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1955/2017 |
| Property Subtype | Apartment | Parking Ratio | 0.31/1,000 SF |
| Zoning | R2 - Residential Multiple-Single | ||
| Price | $1,241,383 CAD |
| Price Per Unit | $155,173 CAD |
| Sale Type | Investment |
| Cap Rate | 8.82% |
| Gross Rent Multiplier | 8.47 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.93 AC |
| Building Size | 6,400 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1955/2017 |
| Parking Ratio | 0.31/1,000 SF |
| Zoning | R2 - Residential Multiple-Single |
Amenities
Unit Amenities
- Air Conditioning
- Washer/Dryer Hookup
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 8 | - | 800 |
Not walkable
10/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 012-330-007-000 | Total Assessment | $1,052,636 CAD (2023) |
| Land Assessment | $124,403 CAD (2023) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $928,234 CAD (2023) | Tax Year | 2025 |
Property Taxes
Parcel Number
012-330-007-000
Land Assessment
$124,403 CAD (2023)
Improvements Assessment
$928,234 CAD (2023)
Total Assessment
$1,052,636 CAD (2023)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2025
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Photos
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Presented by
George Boeger
7047 Norman Rd
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