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Eureka Central Residence

INVESTMENT OPPORTUNITY

SAB Capital is pleased to present the Eureka Central Residence, a family-designated apartment community located on 0.15 acres in Eureka, CA. The property includes one, brick apartment building with X ground floor retail units. The property’s current mix includes 21 studio, one bath units, 15 one bedroom, one bath units. The community amenities include laundry facilities and off-street parking. All utilities including water, electric, gas, and sewer are the responsibility of the landlord.  The property features a HAP contract that covers 100% of the units and runs through October 2024. The current contract rents are below the 2023 FMR’s and $203 below the 2023 HUD 140% Median Gross Rent by Zip Code Metrics. The last reported REAC was a 34c in 2022.

  • Eureka Central Residence in Eureka, CA | County Seat of Humboldt County
  • 99% Project-Based Section 8 Rent Subsidy Contract | 20 Year Renewal Under Option 3 in 2024
  • Property Underwent MTM Restructuring in 2004
  • Located within 2023 Qualified Census Tract (QCT) | 30% Basis Boost for Federal LIHTC
  • Amenities Include Laundry Facilities & Off-Street Parking

Tenant Price Cap Rate Lease Type Square Feet Status
Eureka Central Residence $ % 29,084 Under Contract

John Snee

SENIOR ASSOCIATE | INVESTMENT SALES

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