3831-3835 Annadale Ln - Apartments FOR SALE


Sacramento, CA 95821- Outer Arden-Arcade
$8,000,000 USD
916-612-1293
3831-3835 Annadale Ln, Sacramento, CA for Sale
$8,000,000 USD
Apartments - FOR SALE
1/15
null | 5.02% Cap Rate

3831-3835 Annadale Ln
Sacramento, CA 95821
Outer Arden-Arcade


HIGHLIGHTS

  • Extensively renovated with 33 upgraded interiors, refreshed landscaping, and full exterior repaint across two parcels
  • Clear value add upside through remaining unit renovations and a $184 average loss to lease
  • Ample parking with 52 total spaces

OVERVIEW

Marcus & Millichap is pleased to present Sundance Garden, a well maintained 40 unit multifamily community situated across parcels and benefiting from extensive interior and exterior renovations. The property offers a diverse unit mix consisting of 2 studios, 10 one bedroom units, and 28 two bedroom units. 33 units have been upgraded with improvements such as LVT flooring, granite countertops, new cabinetry, and a mix of stainless steel/black appliances. Exterior improvements include refreshed landscaping designed for low maintenance operation and new exterior paint. The property also provides 52 surface parking spaces, including 40 assigned spaces, 11 unassigned spaces and one handicap. A new owner has the opportunity to complete the renovation program on the remaining seven units and capture additional rent upside. Current average in place rents trail conservative market rents with a loss to lease of approximately $184/Unit, supported by proven pro forma rents within the existing rent roll and nearby rent comps. Sundance Garden presents a stable asset with a light value add component and a straightforward path for improving income and operations. Property tours are available exclusively through the listing agents. CONTACT LISTING AGENT FOR OFFERING MEMORANDUM.

FOR SALE DETAILS

PRICE

$8,000,000 USD

PRICE/SF

$181 USD /SF

# OF UNITS

40

PRICE/UNIT

$200,000

CAP RATE

5.02%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sundance Garden Apts

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1974

PARKING SPACES

52

LAND DETAILS

LAND ACRES

1.38 AC

LAND SF

60,113 SF

ZONING

RD-30

APN/PARCEL ID

255-0031-037,255-0041-013

ASK ABOUT THIS PROPERTY

Sutter McLoughlinMarcus & MillichapMore Info
916-612-1293

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Sutter McLoughlinMarcus & MillichapMore Info
916-612-1293

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