Hillcrest House Apartments
28 Unit Downtown Sonora Property | $141,071/unit
Marketing description
Hillcrest House Apartments, located at 91 Summit Avenue in Sonora, CA, is a 28-unit multifamily community positioned in the desirable Myers Hill neighborhood near downtown Sonora. The property consists of multiple one- and two-story buildings offering a mix of studio, one-bedroom, and two-bedroom units designed to meet the needs of a broad tenant base.
Built in 1976, the asset features functional layouts ranging from approximately 636 to over 900 square feet. Units include private patios or decks, while the property offers assigned carport parking and additional storage.
Residents benefit from attractive community amenities, including a swimming pool, landscaped grounds, and on-site laundry facilities, supporting strong tenant retention.
The property is conveniently located within walking distance to downtown Sonora and in close proximity to shopping centers, healthcare facilities, and major recreational destinations. The surrounding area serves as the cultural and commercial hub of Tuolumne County, providing stable rental demand driven by local employment and regional tourism.
Hillcrest House Apartments presents investors with a well-located asset in a supply-constrained rental market, offering strong in-place income with additional upside potential through lease-up and continued rent growth.
Investment highlights
- Prime Sonora Location: Well-located 28-unit multifamily asset near downtown Sonora with strong local rental demand.
- Strong Current Income with Upside: Stable in-place income with clear potential to increase rents and improve NOI through market alignment and lease-up of vacant units.
- Compelling Price Metrics: Approximately $141,000 per unit provides an attractive basis relative to comparable multifamily assets.
- Value-Add Opportunity: Opportunity to enhance income through rent growth, operational improvements, and strategic upgrades.
- Expense Efficiency Potential: Operational efficiencies and improved management can support stronger cash flow and increased returns.
- Renovation & Stability: Functional unit layouts and community amenities support tenant retention and long-term stability.
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