Two fourplex buildings at 700 and 704 Sherwood Way in Madera are being marketed by Colliers as an off-market investment opportunity.

Colliers’ Jeff Kim and Chris Byrd talked to The Business Journal about an exclusive, off-market multifamily investment opportunity in Madera.

Colliers is marketing two fourplex buildings at 700 and 704 Sherwood Way. Kim, who shared news about the offering on LinkedIn post, said it stands out in a market with limited supply.

Kim said it’s a chance to purchase a stable, income-generating asset that is not publicly listed in a tight market. The fourplexes were built in 1982 and lost sold in 2002.

“There’s almost no inventory in Madera, in the county of Madera,” Kim said. “Properties in Madera don’t really come to market that often.”

Kim said the area is in a clean, B-class neighborhood close to public buildings and parks. Each fourplex includes two three-bedroom, two-bathroom units and two two-bedroom, 1.5-bathroom units.

“The bigger units are more conducive to families, more conducive to longer-term tenants,” Kim said.

The properties generate approximately $11,100 in combined monthly gross rent, plus additional income through a ratio utility billing system and on-site laundry. Market analysis indicates rents could be increased to push gross monthly income above $14,600, according to Colliers.

Byrd, an associate with Colliers, said the unit mix is highly sought after. 

“Investors are willing to pay upwards of $900,000 for this unit mix,” Byrd said.