2251 Watt Ave - Apartments FOR SALE


Sacramento, CA 95825- Outer Arden-Arcade
$20,750,000 USD
858-922-4181
2251 Watt Ave, Sacramento, CA for Sale
$20,750,000 USD
Apartments - FOR SALE
1/25
null | Request Cap Rate

2251 Watt Ave
Sacramento, CA 95825
Outer Arden-Arcade


HIGHLIGHTS

  • 7.98% CAP Rate Upon Loss-to-Lease Recapture.
  • Substantial Upside Through Modernized Interior and Exterior Renovations.
  • Comprised of One, Three-Story Structure With 100% One-Bedroom Floor Plans, Stucco Exterior and Limited Landscape Maintenance.
  • Walking Distance to the Kaiser Sacramento Medical Center and Immediate Access to Major Retail and Employment Hubs Throughout Arden-Arcade.
  • Amenities Include: Swimming Pool, On Site Laundry, Ample Parking, and Controlled Gated Access/Key Fob Entry.

OVERVIEW

ALIVE Commercial Real Estate is pleased to present Garden Plaza Apartments, a 144-unit apartment community ideally located in Arden-Arcade, one of Sacramento’s strongest retail and employment hubs. Built in 1974, Garden Plaza comprises a single three-story building on 2.91 acres, featuring four laundry rooms, a leasing office, a swimming pool, ample parking, and secure gated access with key fob entry. This value-add investment offers substantial potential for enhancing community amenities, with space available for BBQ areas, cabanas, a pet park, and other recreational features. Garden Plaza consists entirely of one-bedroom, one-bathroom units, meeting the high demand among workforce residents seeking affordable, conveniently located housing. The property has maintained historically low vacancy rates, benefiting from strong demand for smaller, more affordable units—a trend demonstrated by recent leasing performance in the area, where studios and one-bedrooms are increasingly favored over larger, costlier layouts. The next owner will acquire a well-located, value-add asset with a stable operational history and multiple avenues for income growth and value creation over the long term.

FOR SALE DETAILS

PRICE

$20,750,000 USD

PRICE/SF

$237 USD /SF

# OF UNITS

144

PRICE/UNIT

$144,097

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Garden Plaza Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1971

PARKING SPACES

150

LAND DETAILS

LAND ACRES

2.92 AC

LAND SF

127,195 SF

ZONING

RD30, County

APN/PARCEL ID

279-0110-034

ASK ABOUT THIS PROPERTY

Spencer MoyerALIVE Commercial Real EstateMore Info
858-922-4181

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Spencer MoyerALIVE Commercial Real EstateMore Info
858-922-4181

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.