We are proud to exclusively present North Woods Apartments, a unique 98-unit multifamily community located at 23925 Eucalyptus Avenue, Moreno Valley.
North Woods Apartments is a turnkey asset and a compelling investment offering the potential for strong day one returns. The offering provides a significant financial advantage with an assumable fixed-rate loan in place through 2031, allowing an investor to lock in stable, long-term debt. This is a top producing property with in-place rents already near market value, establishing a strong financial foundation with a current cap rate of 6.04%, a current GRM of 9.76, and a current total cash return of 9.57%.
The property, built in 1986, consists of 28 buildings with a total building size of approximately 77,203 square feet, situated on an expansive approximately 285,754 square foot lot. The community offers a favorable unit mix with an average unit size of approximately 789 square feet. All units are well-appointed, featuring amenities such as central air and heat, a private patio/ balcony, hardwood floors, large closets, and a dishwasher, with select units also featuring a washer/dryer hookup.
North Woods Apartments is a pride of ownership community offering an array of attractive common area features including a pool, courtyard, laundry facilities, and is pet friendly. The property is a gated community with night patrol and benefits from dedicated on-site management and maintenance. Parking is convenient with surface, carport, and garage options available.
The location offers excellent regional connectivity, positioning the asset as an ideal commuter base with easy access to employment centers across Southern California. The property is within walking distance of the entire Moreno Valley Unified School District track, including Sunnymead Elementary School, Sunnymead Middle School, and Moreno Valley High School.
Retail and recreational access is immediate, with the Moreno Valley Mall and Moreno Valley Plaza just minutes away. Residents also enjoy easy access to premier regional outdoor amenities, such as Lake Perris.
North Woods Apartments is a highly sought after income-producing property and a great long-term investment opportunity. Its assumable financing, desirable location, strong unit and community amenities, and performance metrics offer growth and stability for any investor.