240 2nd St, Davis, CA 95616

Well-located 8-unit apartment building in the heart of Downtown Davis, just two blocks from UC Davis and within walking distance to restaurants, shopping, the Davis Farmers Market, and the Amtrak train station. Opportunities to acquire apartment properties in this immediate area are extremely limited, with very few sales occurring over the past decade, making this a rare offering in one of the most sought-after rental markets in Northern California. This highly desirable location supports strong and consistent rental demand driven by the university, excellent walkability, and limited housing supply.

The property consists of eight 2 bedroom, 1 bath units (16 bedrooms total) and is currently fully leased with a strong occupancy history, providing stable in-place income. Two units are below market due to long-term tenancy, offering clear upside potential as rents move toward market levels. Additional income opportunities include potential increases to market rents, monetizing on-site laundry, implementing parking charges, and future tenant reimbursement of water, sewer, and garbage expenses.

The property has been significantly updated over time by ownership, including replacement of exterior siding, roof improvements, upgraded electrical subpanels (2024), and extensive interior renovations to kitchens and bathrooms. Additional upgrades include updated flooring and various system improvements, contributing to a well-maintained asset with reduced near-term capital needs. Tenants are individually metered for gas and electricity, with water, sewer, and garbage paid by ownership, supporting an efficient operating profile.

Ideal investment for both UC Davis parents and traditional investors seeking a well-positioned asset with stable income, strong demand, and long-term upside in a tightly held and supply constrained market.