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Kelly Pleasant

kelly@pleasantrealestategroup.com +1(916) 743-0844

$ 2,695,000

Est. payment | -/mo

6,592 SqFt

Save

$ 2,695,000

Est. payment | -/mo

Save

6,592 SqFt

Key Details

Property Type Multi-Family

Sub Type 5 or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 6,592 sqft

Price per Sqft $408

MLS Listing ID 226048142

HOA Y/N No

Year Built 1964

Lot Size 10,250 Sqft

Acres 0.2353

Lot Dimensions 100 x 102.5

Property Sub-Type 5 or More Units

Source MLS Metrolist

Property Description

Well-located 8-unit apartment building in the heart of Downtown Davis, just two blocks from UC Davis and within walking distance to restaurants, shopping, the Davis Farmers Market, and the Amtrak train station. Opportunities to acquire apartment properties in this immediate area are extremely limited, with very few sales occurring over the past decade, making this a rare offering in one of the most sought-after rental markets in Northern California. This highly desirable location supports strong and consistent rental demand driven by the university, excellent walkability, and limited housing supply. The property consists of eight 2 bedroom, 1 bath units (16 bedrooms total) and is currently fully leased with a strong occupancy history, providing stable in-place income. Two units are below market due to long-term tenancy, offering clear upside potential as rents move toward market levels. Additional income opportunities include potential increases to market rents, monetizing on-site laundry, implementing parking charges, and future tenant reimbursement of water, sewer, and garbage expenses. The property has been significantly updated over time by ownership, including replacement of exterior siding, roof improvements, upgraded electrical subpanels (2024), and extensive interior renovations to kitchens and bathrooms. Additional upgrades include updated flooring and various system improvements, contributing to a well-maintained asset with reduced near-term capital needs. Tenants are individually metered for gas and electricity, with water, sewer, and garbage paid by ownership, supporting an efficient operating profile. Ideal investment for both UC Davis parents and traditional investors seeking a well-positioned asset with stable income, strong demand, and long-term upside in a tightly held and supply constrained market.

Location

State CA

County Yolo

Area 11401

Direction From I-80 East, take the Richards Blvd exit. Turn right onto Richards Blvd, left onto 1st Street, right onto B Street, then left onto 2nd Street. Property is located at the second driveway on the left.

Rooms

Other Rooms Unit-1 Type: Apartment Approx SqFt: 800 Bedrooms: 2 Full Baths: 1 Total Rooms: 3 Occupancy: Tenant Rent: 2295 SqFt Source: Not Measured Unit-2 Approx SqFt: 800 Bedrooms: 2 Full Baths: 1 Total Rooms: 3 Occupancy: Tenant Rent: 2295 SqFt Source: Not Measured Unit-3 Type: Apartment Approx SqFt: 800 Bedrooms: 2 Full Baths: 1 Total Rooms: 3 Occupancy: Tenant Rent: 2295 SqFt Source: Not Measured Unit-4 Type: Apartment Approx SqFt: 800 Bedrooms: 2 Full Baths: 1 Total Rooms: 3 Occupancy: Tenant Rent: 2295 SqFt Source: Not Measured

Interior

Heating Central

Cooling Central

Flooring Tile, Wood, Luxury Vinyl Plank

Window Features Dual Pane Partial

Appliance Dishwasher, Microwave, Free Standing Electric Oven

Laundry In Common Area, Washer/Dryer Owned, Laundry Closet, Washer/Dryer Hookups

Exterior

Parking Features Open, Uncovered

Utilities Available City, Sewer In & Connected

Water Access Desc Meter on Site,Public

Roof Type Flat,Other

Topography Level

Porch Balcony/Deck

Total Parking Spaces 8

Building

Lot Description Curb(s), Shape Regular, Curbs/Gutters, Sidewalk

Story 2

Foundation Slab

Sewer Public Sewer

Water Meter on Site, Public

Level or Stories Two

Schools

Elementary Schools Davis Unified

Middle Schools Davis Unified

High Schools Davis Unified

School District Yolo

Others

Senior Community No

Tax ID 070-066-004-000

Special Listing Condition None

Listed by RE/MAX Gold, Good Home Group

NEARBY SCHOOLS & PROPERTIES

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(916) 743-0844

kelly@pleasantrealestategroup.com

240 2nd ST Davis, CA 95616