Investment Opportunity | The Aspire Apartments | 348-Unit Class A Multifamily in Tracy, CA скачать в хорошем качестве

Investment Opportunity | The Aspire Apartments | 348-Unit Class A Multifamily in Tracy, CA

The Aspire Apartments present a rare opportunity to acquire a Class A, 348-unit multifamily investment located in the rapidly growing city of Tracy, California. This luxury gated community was developed between 2017 and 2019 by Legacy Homes, a premier residential home builder known for quality craftsmanship and energy-efficient design. Aspire offers one of the most compelling investment profiles in the market, featuring an assumable agency loan at a 2.9 percent fixed interest rate through May 2030, below-market average in-place rents of $2.18 per square foot, and significant upside potential through loss-to-lease burn-off. The current rent roll reflects 97 percent occupancy, with recent comparable properties showing rent growth of $200 over the last five months. The property features spacious floor plans averaging 1,082 square feet, private garages, and thoughtfully designed interiors with stainless steel appliances, granite countertops, walk-in closets, and private patios or balconies. Select units include side-by-side refrigerators, kitchen pantries, and vaulted ceilings. Aspire offers an exceptional amenity package, including a resort-style heated swimming pool, sundeck and ramadas, fitness center with free weights and yoga studio, clubhouse with multimedia center, outdoor theater, pet spa, bocce court, business center, community garden, bike kitchen, and more. Located adjacent to the Tracy Pavilion shopping center and just off Interstate 205, Aspire provides excellent access to retail, dining, parks, and major employment centers. Tracy is strategically positioned with a one-hour commute to Silicon Valley and direct access to Sacramento, Stockton, and the Central Valley. The city has experienced substantial population and income growth, with a current average household income of $148,635 and a rent-to-income ratio of just 19 percent. With limited multifamily inventory, no new supply planned or under construction, and a submarket occupancy rate of 95 percent, Aspire stands out as a generational core-plus investment with substantial value-add potential. For more information or to schedule a property tour, please contact our team to receive the full offering memorandum. Andy Hodgson Senior Vice President andy.hodgson@colliers.com Adam Lucatello Senior Vice President adam.lucatello@colliers.com Cindy Cooke Vice Chair cindy.cooke@colliers.com Scott Knauer Senior Vice President scott.knauer@colliers.com Chris Roach Vice President chris.roach@colliers.com Luke Donahue Senior Vice President luke.donahue@colliers.com