27933 Cherokee Street, Nevada City, CA 95959

Property Description

Marcus & Millichap is pleased to present the exclusive opportunity to acquire a unique nine-unit multifamily investment portfolio located in North San Juan, California. The offering consists of two single-family homes, two duplexes, and one triplex across 27885 Cherokee Street and 27933 Cherokee Street, providing a diversified unit mix and multiple income-producing assets within a single acquisition. Situated in the heart of California's historic Gold Country, North San Juan offers a desirable small-town setting with convenient access to Nevada City, located approximately 20 minutes away. Nevada City is nationally recognized for its charming preserved Gold Rush-era downtown, while the property's location provides convenient access to both Sacramento and the Lake Tahoe region. The nearby Yuba River (2.5 miles to the fork) further enhances the area's appeal, contributing to strong rental demand and supporting historically low vacancy and efficient tenant turnover. The property features a diverse mix of residential units, including (1) three-bedroom/two-bathroom home, (1) two-bedroom/one-bathroom home, (2) duplexes with a mix of one and two-bedroom floorplans, and a triplex with a mix of one and two-bedroom floorplans. This diversified configuration provides residents with flexible housing accommodations, further enhancing retention and appeal. Residents enjoy the low-density and cottage-style living, with the benefit of local shops, restaurants, and caf's being walking distance away. Ownership has demonstrated strong pride of ownership, with the property being consistently maintained and updated, with very little if any deferred maintenance remaining. Recent and existing property improvements include, upgrading units upon turnover, installing metal roofs, an on-site 5,000-gallon water storage tank, and a water well, which produces 10 gallons per minute. These improvements provide a solid physical foundation for continued ownership while minimizing landlord expenses. 27933 Cherokee Street and 27885 Cherokee Street represent a rare opportunity to acquire a diversified multifamily investment in the heart of North San Juan, combining strong in-place income, a supply constrained market, and a well-maintained collection of residential assets in a desirable Gold Country location.