Cash cow! A unique income-producing asset on State Street that delivers a 7.2% cap rate across multiple revenue streams in one of Mendocino County's most accessible commercial corridors! This mixed-use multi-family offering combines 10 garden-level apartment units, 14 mobile home sites, and a standalone commercial building on a single 2.13-acre parcel with direct frontage on North State Street and Lake Mendocino Drive along with immediate proximity to Highway 101. The property's diversified rent roll spreads risk across apartments and mobile home space rent tenancy while offering value add potential with the commercial building. Its location places tenants within easy reach of Ukiah's core and regional traffic flow, supporting long-term occupancy and visibility. For an investor seeking stabilized cash flow with multiple income sources, this configuration offers both downside protection and room to add value!
Multi-familyProperty Type
1950Year Built
2.13 acresLot Size
Listed by Todd Schapmire•DRE #01414195• W Real Estate
As the MLS and public records start to fill up, we'll list the details here.
Public record
Public record
Zoning
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Multi-Family (5+ Unit)
County
Mendocino County
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Last updated by owner on Mar 4, 2023.
I1
Limited Industrial District
This district is intended to create and preserve areas where manufacturing and industrial uses which evidence no or very low nuisance characteristics may locate. Nonindustrial uses which support or are adjuncts to industrial uses and are compatible with such uses are permitted within the zone particularly administrative, sales and service uses.
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
5/10 Fire Factor
6% chance of being in a wildfire in next 30 years
6/10 Heat Factor
7 days above 100° expected this year, 16 days in 30 years
1/10 Wind Factor
Minimal risk of severe winds over next 30 years
10/10 Air Factor
24 unhealthy days expected this year, 25 days in 30 years
Provided by First Street
Historical weather
Ukiah, CA • 95482
Average low and high temperatures (°F)
60
39
59
42
67
44
68
45
77
51
85
55
87
57
90
58
86
57
75
50
62
43
58
42
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May
Jun
Jul
Aug
Sep
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Nov
Dec
Sun exposure
65/ 100
Moderate sunlight
Sunscore
There appears to be some shading by surrounding buildings, terrain, and vegetation.
8.5 hrs
4.3 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 3251 N State St
There isn’t enough information to generate an accurate estimate at this time. Learn More