Ridgeview Apartments
Multifamily | 23 Units | $262,438/unit
Marketing description
83 Castro Street consists of 16 two-bedroom / one-bathroom apartments. The complex was constructed in 1983. There are three buildings. There are two offices. One is for management, and the other is used for storage and by ownership. Most units have a private deck or an enclosed patio, some of which are quite spacious. The complex has benefited from many capital improvements in recent years, including: Most of the wood siding has been replaced in the last 3 years, Deck replacement and repairs in the last 4 years, SB721 Inspection- clearance with no red flags, Exterior repainted, New Jeld-Wen vinyl windows in all units. The units have mini blinds. A new water pressure regulator was installed in January 2026. Units have been remodeled with new bathroom fixtures, bathroom fans, kitchens, lighting, and flooring.
Investment highlights
- 9.64 GRM & 6.31% cap rate based on current rents with new Proposition 13 taxes
- The complex was constructed in 1983.
- The complex has benefited from many capital improvements in recent years, including: Most of the wood siding has been replaced in the last 3 years.
- Deck replacement and repairs in the last 4 years.
- SB721 Inspection- clearance with no red flags, Exterior repainted, New Jeld-Wen vinyl windows in all units. The units have mini blinds. A new water pressure regulator was installed in January 2026.
- Units have been remodeled with new bathroom fixtures, bathroom fans, kitchens, lighting, and flooring.
- Parking: There is one garage, 14 tuck-under parking spaces, and 8 uncovered spaces. Units 3, 6, 8, and 10 pay $50 per month for extra parking.
- All units have a natural gas water heater.
- The complex owns the laundry equipment. There are four washers and five dryers.
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