2700-2714 29th Ave - Apartments FOR SALE


Sacramento, CA 95820
$1,395,000 USD
916-541-3630
2700-2714 29th Ave, Sacramento, CA for Sale
$1,395,000 USD
Apartments - FOR SALE
1/37
null | 5.95% Cap Rate

2700-2714 29th Ave
Sacramento, CA 95820


HIGHLIGHTS

  • 8 Single family homes on one lot
  • Room for growing rents, tenants elegible for rent increases.
  • Private gated community
  • Potential to add more units, and to expand current units
  • Most recent vacancy filled at $1,795

OVERVIEW

2700 29th Ave is a multifamily property located in the Hollywood Park neighborhood of Sacramento, featuring (8) 2 bedroom, 1 bathroom houses on one parcel. 7 of the 8 units will be delivered occupied at sale, with the 8th unit being delivered fully gutted and ready for remodel. Each unit is individually metered for gas and electric, with the owner paying water/sewer/garbage. Each unit also includes a private backyard, as well as washer and dryer hookups. Half of the houses have new electric panels, new plumbing, and have been recently updated. The most recent vacancy was filled at $1795, setting a new precedent for future vacancies. The remaining current tenants are elegible for rental increases. There is also room to expand units on the property, including making several of the current units larger, and adding at least two ADU's. There is also potential to expand the backyards to make them larger.

FOR SALE DETAILS

PRICE

$1,395,000 USD

PRICE/SF

$199 USD /SF

# OF UNITS

8

PRICE/UNIT

$174,375

CAP RATE

5.95%

% LEASED

88%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1950

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.92 AC

LAND SF

40,075 SF

ZONING

R-1-EA

APN/PARCEL ID

019-0211-005

ASK ABOUT THIS PROPERTY

Tim SwanstonNorth Coast Commercial, Inc.More Info
916-541-3630

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Tim SwanstonNorth Coast Commercial, Inc.More Info
916-541-3630

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