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828 D St 8 Unit Apartment Building $3,589,756 CAD ($448,720 CAD/Unit) 5.22% Cap Rate Davis, CA 95616
Investment Highlights
- 8-unit multifamily community built in 1964, comprehensively renovated in 2024, with stabilized operations at 96.5% occupancy.
- Located under 1.5 miles from UC Davis and walking distance to downtown, with a hospital, Amtrak station, and grocers nearby.
- Diversified unit mix of 1-, 2-, and 3-bedroom floor plans serving a broad range of renters in Davis's university-anchored rental market.
- NOI of $134,488 today, increasing to $149,421 in Year 1 on achievable, in-place rent growth.
Executive Summary
The Heitzeberg Group of Marcus & Millichap is pleased to present 828 D Street Apartments (the "Davis Bungalows"), an 8-unit multifamily community located in the
heart of Davis, California. Built in 1964 and comprehensively renovated in 2023-2024, this well-maintained asset offers investors the opportunity to acquire a stabilized,
income-producing property in one of Northern California's most supply-constrained rental markets, anchored by the University of California, Davis.
The Davis Bungalows consist of a diverse unit mix, including four 1-bedroom/1-bathroom units averaging 600 square feet, three 2-bedroom/1-bathroom units averaging
850 square feet, and one 3-bedroom/2-bathroom unit spanning 1,100 square feet, totaling 6,050 rentable square feet on a 12,632 square-foot lot. This range of unit types
allows the property to serve a broad spectrum of renters — from single UC Davis graduate students and staff to small families — while supporting stable occupancy,
currently running at 96.5%, and consistent demand.
Davis and the greater Sacramento region continue to experience strong demand for rental housing near UC Davis, driven by consistent university enrollment, a walkable
downtown core, and some of the most restrictive residential development entitlements in Northern California. The property sits less than 1.5 miles from the UC Davis
campus and within walking distance of downtown Davis, with Sutter Davis Hospital, the Davis Amtrak/Capitol Corridor station, and five grocery options all within a two mile
radius. 828 D Street is well-positioned to continue serving this essential rental demand while offering a new owner a clear, low-risk path to rent growth through its
existing loss-to-lease.
heart of Davis, California. Built in 1964 and comprehensively renovated in 2023-2024, this well-maintained asset offers investors the opportunity to acquire a stabilized,
income-producing property in one of Northern California's most supply-constrained rental markets, anchored by the University of California, Davis.
The Davis Bungalows consist of a diverse unit mix, including four 1-bedroom/1-bathroom units averaging 600 square feet, three 2-bedroom/1-bathroom units averaging
850 square feet, and one 3-bedroom/2-bathroom unit spanning 1,100 square feet, totaling 6,050 rentable square feet on a 12,632 square-foot lot. This range of unit types
allows the property to serve a broad spectrum of renters — from single UC Davis graduate students and staff to small families — while supporting stable occupancy,
currently running at 96.5%, and consistent demand.
Davis and the greater Sacramento region continue to experience strong demand for rental housing near UC Davis, driven by consistent university enrollment, a walkable
downtown core, and some of the most restrictive residential development entitlements in Northern California. The property sits less than 1.5 miles from the UC Davis
campus and within walking distance of downtown Davis, with Sutter Davis Hospital, the Davis Amtrak/Capitol Corridor station, and five grocery options all within a two mile
radius. 828 D Street is well-positioned to continue serving this essential rental demand while offering a new owner a clear, low-risk path to rent growth through its
existing loss-to-lease.
Property Facts
| Price | $3,589,756 CAD | Building Class | C |
| Price Per Unit | $448,720 CAD | Lot Size | 0.29 AC |
| Sale Type | Investment | Building Size | 6,050 SF |
| Cap Rate | 5.22% | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1964/2024 |
| Property Subtype | Apartment | Parking Ratio | 1.32/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R3M | ||
| Price | $3,589,756 CAD |
| Price Per Unit | $448,720 CAD |
| Sale Type | Investment |
| Cap Rate | 5.22% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.29 AC |
| Building Size | 6,050 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1964/2024 |
| Parking Ratio | 1.32/1,000 SF |
| Zoning | R3M |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $2,663 CAD | 600 - 750 |
| 2+1 | 3 | $3,276 CAD | 850 |
| 3+2 | 1 | $4,043 CAD | 1,100 |
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Some public transit
50/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 070-161-021-000 | Improvements Assessment | $1,886,246 CAD |
| Land Assessment | $905,396 CAD | Total Assessment | $2,791,642 CAD |
Property Taxes
Parcel Number
070-161-021-000
Land Assessment
$905,396 CAD
Improvements Assessment
$1,886,246 CAD
Total Assessment
$2,791,642 CAD
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828 D St
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