Listed by MacLeod & Co
Unpriced
Quail Creek Apartments
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 111,381
Units 156
NOI $1,960,000
Occupancy 94.9%
Tenancy Multi
Class B
Year Built 1978
Buildings 1
Acreage 8.530
Zoning Multi-Family Residential
Parking Spaces 1 per unit
Investment Type Value Add
Occupancy Date 05/31/2026
Multifamily | 156 Units
Marketing description
A predominantly single-story garden community in Riverside's established Victoria neighborhood — durable in-place cash flow, proven leasing momentum, and a clear mark-to-market path with rents still roughly 10% below comparable communities.
Investment highlights
- Strong In-Place Cash Flow - $3.18M gross income and $1.96M NOI in 2025 — proven performance with mark-to-market upside still ahead.
- 94.9% Physical Occupancy - Only 7 vacant units as of May 2026, up from 91.0% in February — active leasing momentum and consistent demand.
- Rent Growth Opportunity - Current rents ~10% below market. Annualized rent roll grew from $3.16M to $3.21M in two months — $134K already captured.
- Low-Density Garden Footprint - Predominantly single-story on 8.53 acres — a rare, low-density profile tenants value and that is difficult to replicate.
- Established Victoria Neighborhood - Tree-lined streets, three parks, the Victoria Club golf course, and walkable retail drive low turnover.
- Strong YOY Revenue Growth - Scheduled rent rose +4.9% (2024→2025); the 2026 annualized rent roll now tracks at $3.21M.
Listing Contacts
Listed by MacLeod & Co
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$1,960,000.00
$163,333.33/mo
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