240 2nd Street

Davis, CA 95616

Well-located 8-unit apartment building in the heart of Downtown Davis, just one block from UC Davis and within walking distance to restaurants, shopping, the Davis Farmers Market, and the Amtrak train station. Opportunities to acquire apartment properties in this immediate area are extremely limited, with very few sales occurring over the past decade, making this a rare offering in one of the most sought-after rental markets in Northern California. This highly desirable location supports strong and consistent rental demand driven by the university, excellent walkability, and limited housing supply. The property consists of eight 2 bedroom, 1 bath units and is currently fully occupied, providing stable in-place income. Two units are below market due to long-term tenancy, offering clear upside potential as rents move toward market levels. Additional income opportunities exist through monetizing the existing on-site laundry and implementing parking charges. The property has been significantly updated over time by ownership, including replacement of exterior siding, roof improvements, upgraded electrical subpanels (2024), and extensive interior renovations to kitchens and bathrooms. Additional upgrades include updated flooring and various system improvements, contributing to a well-maintained asset with reduced near-term capital needs. Tenants are individually metered for gas and electricity, supporting an efficient operating profile. Ideal investment for both UC Davis parents and traditional investors seeking a well-positioned asset with stable income, strong demand, and long-term upside in a tightly held and supply constrained market.

Listing courtesy of RE/MAX Gold, Good Home Group



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Last checked 2026-04-23 07:12 AM PDT