1500 Howe Ave - Apartments FOR SALE


Sacramento, CA 95825- Outer Arden-Arcade
$13,000,000 USD
916-833-8346
1500 Howe Ave, Sacramento, CA for Sale
$13,000,000 USD
Apartments - FOR SALE
1/7
null | 5.26% Cap Rate

1500 Howe Ave
Sacramento, CA 95825
Outer Arden-Arcade


HIGHLIGHTS

  • Enviable Unit Mix in Suburban Sacramento
  • Spacious Townhouse-Style Units with In-Suite Laundry
  • Stable Operating History
  • First Time on Market in Over 30 Years

OVERVIEW

Please visit www.1500howe.com for more information! Marcus & Millichap is pleased to offer for sale for the first time in more than 30 years, a 64-unit apartment community in the heart of the dynamic Arden-Arcade submarket of Sacramento, California. The property features a single, generous 1005sqft townhouse floorplan for all 64 units plus in-unit laundry; nearby comps suggest upside in rents with upgraded interiors on tradeouts. Residents at The Pointe Townhomes are attracted to the community for it's large and spacious townhouse style units with no upstairs neighbors and in-unit laundry. Investors also value these townhouses because there are no upstairs balconies to consider. At a density of approximately 23 units/acre and beautiful palm trees lining the central corridor behind a gated entry, the ambience is exceptional. The Pointe Townhomes is perched at the southeast corner of the "Howe Bout Arden" intersection in the unincorporated portion of Sacramento County. Immediately to the west of the property is the "Howe Bout Arden" retail center that was redeveloped in 2015. Less than a mile beyond that is the Arden Fair Mall. To the south approximately 2 miles away is CSU Sacramento and a convenient drive along Hwy160 or Business 80 drops into Downtown Sacramento. Residents in this location enjoy the convenience of having employment, entertainment and shopping all with a small radius of the property plus the added benefit of being close to all of Sacramento's major freeways.

FOR SALE DETAILS

PRICE

$13,000,000 USD

PRICE/SF

$192 USD /SF

# OF UNITS

64

PRICE/UNIT

$203,125

CAP RATE

5.26%

% LEASED

97%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Pointe Townhomes

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1965

PARKING SPACES

83

LAND DETAILS

LAND ACRES

2.73 AC

LAND SF

118,919 SF

ZONING

RD30, County

APN/PARCEL ID

285-0061-015

ASK ABOUT THIS PROPERTY

Tony DeLoneyMarcus & MillichapMore Info
916-833-8346

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Tony DeLoneyMarcus & MillichapMore Info
916-833-8346

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