Willits Multifamily for Sale
Marcus and Millichap is proud to present the opportunity to present Redwood Meadows. Redwood Meadows is a 101 unit, Active Senior Apartment located in Willits CA.
The subject property boasts a onsite club house, garden, new drought tolerant landscaping, and storage units for rent. The unit make up of the property is also
advantageous, with 4 studios, 58 1 bedrooms, and 39 two bedrooms.
The property sits on 7.18 Acres and has land available, and the city is enthusiastic about adding up to 15 units onsite. With such strong demand, the new owner will have
the ability to start building while enjoying the current steady cash flow.
Redwood Meadows is located right in the middle of Willits CA, located directly next to the Senior Center. In the center of town, the location allows easy transportation to
shopping, health care, and entertainment.
The savvy investor will quickly realize the steady nature of senior apartments. Unlike many apartments, seniors consider the apartment their home. Turnover is low, and
the residents take far better care of their units.
In addition, there is a loan on the property of approximately 4,600,000 that can be assumed at a 5.13% interest rate. The lender will also allow a second to be placed on
the property to take advantage of the locked in lower interest rate while still improving LTV if the buyer chooses to.
Willits, known as the "Gateway to the Redwoods," has a population of approximately 5,000.
The right buyer will see the rare opportunity to purchase a stable senior apartment, with upside in rents and the ability to build new units on site.
