The Mogharebi Group | Multifamily Investment Advisory

Property Summary

Price	$39,500,000
Price Per Unit	$223,164
Units	177
Lot Size Acres	4.91

Investment Highlights

Value add opportunity with upside on the remaining 72 units
Low price per unit and high stabilized cap rate
Attractive rent vs buy
Walking distance to grocery stores, supermarkets, and restaurants
10-minutes to Travis Air Force base with over 14,000 jobs and within a 60-minute commute to over 1.8 million jobs
Near to one of Fairfield's largest community parks

Property Description

THE MOGHAREBI GROUP is pleased to present the opportunity to acquire Delta Court, a 177-unit multifamily community located in the city of Fairfield, California. Built in 1955-1966 and situated on 4.91 acres, the property is comprised of one common area building and 10, two-story residential buildings that house a diverse unit mix of studio, one-, and two-bedroom floorplans ranging from 250 to 875 square feet as well as one single-family home. The community offers common area amenities including two swimming pools, outdoor picnic area with barbeques, courtyard, walkways, and laundry facilities. Delta Court provides an opportunity to continue a proven value-add strategy by modernizing unit interiors that will drive tenant traffic and spur rent growth as renovated properties in the area achieve significant rent premiums, which supports overall market upside potential. The Fairfield area also has a significant rent versus buy affordability gap with a median home price of $568,298 and an average monthly home cost of $3,000.

1350 Crowley Lane
Fairfield, CA 94533

Delta Court is well located just south of Texas Street with numerous neighborhood conveniences such as schools, parks, shopping, and dining within a short walk from the property. Allan Witt Park, one of the city’s most comprehensive recreation facilities, is within walking distance. With its location in the burgeoning commuter city of Fairfield, Delta Court enjoys easy access to both Highway 12 and the I-80 Freeway, which connect residents to the education, retail, entertainment, dining, and employment centers found throughout the entire San Francisco metro area.