Amar Cheema, CCIM | BRE 01445711Broker | Owner

O: 530.777.3269 | C: 530.218.4768acheema@sutterequities.com

www.sutterequities.com

FOR SALE

Jasmine Apartments38 Units1250 Kenny Dr. Yuba City, CA

Confidentiality & Disclaimer

The information contained in this marketing brochure (“Materials”) is proprietary and confidential. It is intended to be reviewed only by the person or entity receiving it from Sutter Equities (“Agent”). The materials are intended to be used for the sole purpose of preliminary evaluation of the subject property (“Property”) for potential purchase.

The materials have been prepared to provide unverified summary financial, physical, and market information to prospective buyers enable them to establish a preliminary level of interest in potential purchase of the property. The materials are no to be considered fact. The information contained in materials is not substitute for thorough investi-gation of the financial, physical, and market conditions relating to the property.

The information contained in the materials has been obtained by Agent from sources believed to be reliable, howev-er, no representation or warranty is made regarding the accuracy or completeness of the materials. Agent makes no representation or warranty regarding the property, including but not limited to income, expenses, or financial perfor-mance (past, present, or future); size, square footage, condition, or quality for the land and improvements; presence or absence of contamination substances (PCB’s, asbestos, mold, etc); Compliance with laws and regulations (local, state, and federal); or, financial condition or business prospects of any tenant (tenant’s intentions regarding contin-ued occupancy, payment of rent, etc). Any prospective buyer must independently investigate and verify all of the information set forth in the materials. Any prospective buyer is solely responsible for any and all costs and expenses incurred in reviewing the materials and/or investigating and evaluating the property.

By receiving the materials, you are agreeing to the Confidentiality and Disclaimer set forth herein.

ALL Property showings are by appointment only and must be coordinated through Agent.

Executive Summary 4

Opportunity 5

Property Highlights 6

Property Photos 7

Property Maps 8-10

Property Financials 11-13

Location Overview 14

Demographics 15

About the Broker 16

TABLE OF CONTENTS

ExecutiveSummary

1250 Kenny Dr. Yuba City, CA

For Sale | $2,700,000 Sutter Equities is pleased to present The Jasmine Apartments a 38-unit garden style apartment complex located at 1210-1250 Kenny Drive, Yuba City, CA. It consists of (1) studio, (25) one-bedroom/one-bath and (12) two-bedroom/one-bath units. Substantial exterior improvements with value-add opportunity remain-ing with improving interior units.

Steady economic growth has improved the multifamily rental housing market in the Yuba/Sutter area. No new supply of multifamily units has entered the market in recent years, which has re�ected in low vacancy and steady rent growth. As rents continue to rise in the Sacramento and Bay area markets, more households are establishing themselves in the Yuba/Sutter area due to a�ordable rents.

Opportunity

Amar Cheema, CCIM | BRE 01445711Broker | Owner

O: 530.777.3269 | C: 530.218.4768acheema@sutterequities.com | www.sutterequities.com

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SERVICE PROVIDER RESPONSIBILITY� �� � � � � � � � � � � � � � � � � � � � � �� � � � � � � � � � � � � � � � � � �� � � � � �� �� � � � � � ­ � � � �� � �� � � �­ � � � � � � � �� � � � � � � � � � � � � �� � � � � � � � �� � ­ � � �� �� ��� � � � � � � � � ­ � � � � � � � � � � � � �� � �� � � � � � � � ­ � � � � � � � � � � � � �

PropertyHighlights

Amar Cheema, CCIM | BRE 01445711Broker | Owner

O: 530.777.3269 | C: 530.218.4768acheema@sutterequities.com | www.sutterequities.com

PROPERTYAddress 1210-1250 Kenny Drive Yuba City, CA 95991County SutterAPN 51-062-009County Use Apartment

Rentable Units 38Year Built 1968Number of Buildings 2Rentable Area 25,426 SFAverage Unit Size 670 SFLand Area 1.31Parking Uncovered

PROPERTY SPECS

PROPERTY ATTRIBUTESFoundation Concrete SlabExterior Walls T1-11-WoodRoof Pitched/Comp ShingleBalcony YesLaundry (2) Laundry Rooms On-site -LeasedHVAC Wall/CentralHot Water Heaters 2 (1 per building)

TRAFFIC COUNTS VPDKenny Dr. (Subject Property) N/AGray Ave. 4,637Queens Ave. 9,995

PropertyAerial

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lden

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Kenny Dr.

Casa Loma Ln

PropertyParcel Map

RetailMap

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Kenny Dr.

Gre

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Yuba Sutter Mall

Property Financials - RENT ROLL

1 400 $500 $1.25 $550 $1.3825 650 $500 - $600 $0.77-$0.92 $700 $1.0812 825 $600 - $675 $0.73 - $0.82 $800 $0.97

UNITS SQ FT CURRENT RENT $/SQ FT MARKET RENT $/SQ FT

Property Financials - VALUATION

OPERATING SUMMARY CURRENT MARKETScheduled Gross Rent $264,000 $325,200Vacancy -5.00% ($13,200) -5.00% ($16,250)Effective Gross Rent $250,800 $308,950Other Income $3,500 $5,500TOTAL INCOME $254,300 $314,450Operational Expenses $83,630 $89,700Non-Operational Expenses $36,571 $47,300TOTAL EXPENSES $120,201 $137,000

NET OPERATING INCOME $134,099 $177,450Debt Service ($111,571) ($111,571)Net Cash Flow $22,528 $65,879 Principal Reduction $31,862 $31,862 Cash on Cash Return $54,390 $97,741Cap Rate 5% 6.6%

Property Financials - COMPARATIVE MARKET ANALYSIS

PROPERTIES SOLD RECENTLY Units Yr.Blt Sq.Dist.from

Sub. (Miles)

Sale Price Price per Unit Sale Date Comments-Compare with subject Property

1230 Melton Dr, Yuba City, CA 31 1990 21,239 0.3 $ 1,800,000 $58,064 3/28/2016Located one block from the subject property. Most comparable

1107 Ramirez St, Marysville, CA 51 1986 26,650 3.9 $ 2,550,000 $50,000 12/13/2016Located in Marysville, different sub market then subject

1201 B Street, Yuba City, CA 24 1969 16,480 2 $ 1,325,000 $55,208 11/3/2016Central loca on. Needed some work. Pool on-site

1341 Dus n Drive, Yuba City, CA 68 1978 53,900 0.9 $ 5,700,000 $83,823 9/15/2017Recently renovated. Large unit sizes that includes 3 bedroom/ 1 Bath units

CURRENT LISTINGS Units Yr.Blt Sq.Dist.from

Sub. (Miles)

List Price Price per Unit Lis ng Date Comments-Compare with subject Property

813 F Street, Marysville, CA 10 1938 12,000 3.1 $1,300,000 $130,000 10/18/2017 Recently renovated, large unit size. Central HVAC.

845 Kimball Ave, Yuba City, CA 16 1967 11,440 1.8 $1,250,000 $78,125 11/18/2017 Flat roof. Good unit mix. On-site laundry.

460 N Barre Rd, Yuba City, CA 24 1970 15,586 2.4 $1,950,000 $81,250 11/18/2017 Central loca on. Flat roof. Wall heat and air.

SUBJECT PROPERTY Units Yr.Blt List Price Price Per Unit

1210-1250 Kenny Dr. Yuba City, CA 38 1968 25,426 $2,700,000 $71,052

Sq.Ft

Ft.

Ft.

OPERATING STATEMENT CURRENT MARKETScheduled Gross Rent $264,000 $325,200Vacancy (5%) ($13,200) ($16,250)Effective Gross Rent $250,800 $308,950Other Income $3,500 $5,500TOTAL INCOME $254,300 $314,450

Repairs & Maintenance $19,000 $21,000Water, Sewer, Garbage $31,926 $33,500Management (includes managers unit) $19,200 $19,200Landscaping $1,500 $1,500Gas/Electricity $10,704 $12,000Advertising/Admin $1,300 $2,500OPERATING EXPENSES SUBTOTAL $83,630 $89,700Reserves ($200/unit) $7,600 $7,600Property Tax $20,471 $31,200Insurance $8,500 $8,500NON-OPERATING EXPENSES SUBTOTAL $36,571 $47,300TOTAL EXPENSES $120,201 $137,000% Scheduled Gross Rent 48.00% 44.00%Expenses/Unit $3,163 $3,605Expenses/Sq Ft $4.73 $5.39

EXPENSES

Property Financials - OPERATING STATEMENT

LocationOverview

Yuba City is a city in Northern California and the county seat of Sutter County, California, United States. The population as of 2016 was 66,845. Yuba City is the principal city of the Yuba City Metropolitan Statistical Area which encompasses all of Sutter County and Yuba County. The metro area's population is 172,800. It is the 21st largest metropolitan area in California ranked behind Redding and Chico. Its metropolitan statistical area is part of the Greater Sacramento MSA.

The unemployment rate in the Yuba City MSA was 8.2 percent in June 2017, down from a revised 9.2 percent in 2016. This compares with an unadjusted unemployment rate of 9.7 percent for California and 7.6 percent for the nation during the same period.

Demographics

2017 Summary

Population

Households

Families

Average Household Size

Owner Occupied Housing Units

Renter Occupied Housing Units

Median Age

Median Household Income

Average Household Income

1 Mile 

17,359

6,492

4,240

2.62

3,300

3,192

36.5

$48,051

$70,010

3 Miles

64,106

22,206

15,158

2.84

11,090

11,116

34.8

$46,883

$65,651

5 MIles

101,756

34,162

24,331

2.94

18,378

15,785

34.0

$49,370

$67,371

2022 Summary/Projection

Population

Households

Families

Average Household Size

Owner Occupied Housing Units

Renter Occupied Housing Units

Median Age

Median Household Income

Average Household Income

1 Mile 

17,920

6,670

4,357

2.63

3,403

3,267

36.9

$50,463

$79,705

3 Miles

65,710

22,695

15,477

2.84

11,314

11,382

35.5

$48,900

$73,759

5 Miles

104,287

34,933

24,861

2.95

18,696

16,237

34.4

$51,278

$75,796

5 MILES

3 MILES

1 MILE

1250 Kenny Dr. Yuba City, CA

BrokerAbout the WHO WE ARE | As a small brokerage service company, we present real estate

owners, investors and end users solutions that cater to their needs.

BROKERAGEWe find innovative ways to buy, sell and lease your property. Through our professional and network

affiliations, we effectively and efficiently deliver our services at the local level. Our listing campaigns

are tailored to deliver maximum exposure of your property.

Amar Cheema, CCIM | BRE 01445711Broker | Ownero: 530.777.3269 | c: 530.218.4768 acheema@sutterequities.com

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