INVESTMENT OPPORTUNITY
SAB Capital is pleased to present the Eureka Central Residence, a family-designated apartment community located on 0.15 acres in Eureka, CA. The property includes one, brick apartment building with X ground floor retail units. The property’s current mix includes 21 studio, one bath units, 15 one bedroom, one bath units. The community amenities include laundry facilities and off-street parking. All utilities including water, electric, gas, and sewer are the responsibility of the landlord. The property features a HAP contract that covers 100% of the units and runs through October 2024. The current contract rents are below the 2023 FMR’s and $203 below the 2023 HUD 140% Median Gross Rent by Zip Code Metrics. The last reported REAC was a 34c in 2022.
- Eureka Central Residence in Eureka, CA | County Seat of Humboldt County
- 99% Project-Based Section 8 Rent Subsidy Contract | 20 Year Renewal Under Option 3 in 2024
- Property Underwent MTM Restructuring in 2004
- Located within 2023 Qualified Census Tract (QCT) | 30% Basis Boost for Federal LIHTC
- Amenities Include Laundry Facilities & Off-Street Parking
| Tenant | Price | Cap Rate | Lease Type | Square Feet | Status |
|---|---|---|---|---|---|
| Eureka Central Residence | $1,200,000 | % | 29,084 | Closed |
