Davinci Apartments — Sale in Davis, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Davis, CA 95618

Investment Figures

Cap rate
5.68%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Davinci Apartments presents a rare opportunity to acquire a well-located, purpose-built multifamily asset in one of California’s most supply-constrained and stable rental markets. Constructed in 2005, the property consists of 51 total units with a desirable mix of 31 four-bedroom units, 4 three-bedroom units, 8 two-bedroom units, and 8 studios. This mix is ideally suited to serve the continually growing student population of UC Davis as well as the broader Davis rental community. Strategically positioned just a five-minute bike ride from the UC Davis campus, Davinci Apartments benefits from strong year-round demand, exceptional access to transit and bike paths, and proximity to the retail, dining, and cultural amenities of downtown Davis. Davis is a highly livable, sustainability-focused city of approximately 67,000 residents, well known for its top-tier university and for having one of the most bike-friendly infrastructures in the nation. The University of California, Davis enrolls nearly 40,000 students annually, with year-over-year application growth indicating continued enrollment increases. This consistent student influx supports long-term occupancy and rental growth. The city’s current apartment vacancy rate is approximately 4.2%, a clear indication of sustained rental demand and tight market conditions. The property is currently operating at a cap rate of 5.68% with a projected pro forma cap rate approaching 7.0%, driven by opportunities to bring rents to market levels, introduce utility bill-backs, and enhance operational efficiency. With an average unit rent near $2,400 and occupancy above 98%, the asset is well-positioned for both immediate cash flow and long-term value appreciation. The new owner could also benefit from the fact that 33% of the property faces an income restriction to get a reduction on Property Taxes for the property. The restriction is at 60 and 80% of Median Income, allowing the owner to rent at virtually market rents, while still takin

Market Context

This multifamily in Davis, CA is listed for sale. It is offered at an approximate 5.7% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 101 days. Compare it against other multifamily listings for sale in Davis, CA — view the full market.

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