5800 Fair Oaks Blvd - Apartments FOR SALE


Carmichael, CA 95608- Outer Carmichael/Citrus Heights
$4,900,000 USD
916-833-8346
5800 Fair Oaks Blvd, Carmichael, CA for Sale
$4,900,000 USD
Apartments - FOR SALE
1/1
null | Request Cap Rate

5800 Fair Oaks Blvd
Carmichael, CA 95608
Outer Carmichael/Citrus Heights


HIGHLIGHTS

  • Value-add opportunity. 33% of property is currently vacant, with a total of six units being offline altogether.
  • Located inside the boundaries of the Carmichael Improvement District providing services to property owners and beautifying the Fair Oaks Blvd corridor
  • Unique floorplans in a highly desirable location sandwiched between Ancil Hoffman Municipal Golf Course, Five Points Shopping Center & Milagro Centre
  • Brand new roof, additional renovation opportunities available

OVERVIEW

Offers due July 22nd. Marcus & Millichap is pleased to offer Shelfield Apartments for sale as a value-add opportunity in Carmichael, California. The property features a smattering of very unique floorplans, complete with interior hallways and architectural accents unique to the 1960s. Residents are treated to on-site laundry facilities, a private courtyard swimming pool and tuck under parking for their vehicles. All but the studio floorplans enjoy central HVAC. The property is currently 33% vacant with six units being offline altogether from fire and water intrusion. While the roof is brand new, the next owner will have the unique opportunity to bring this gem of a property back to its glory complete with modern interior upgrades and exterior improvements to landscape and structure. Nearby condos sell for over $1million with some homes exceeding $2million in recent sales. Residents living at Shelfield also enjoy convenient access to premier Carmichael shopping options at nearby Milagro Centre and Five Points. Outdoor enthusiasts are also attracted to the nearby American River Parkway, providing access to a well-known 32-mile Jedidiah Smith Memorial Bike trail.

FOR SALE DETAILS

PRICE

$4,900,000 USD

PRICE/SF

$154 USD /SF

# OF UNITS

40

PRICE/UNIT

$122,500

CAP RATE

Request Cap Rate

% LEASED

97%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Shelfield Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1964

PARKING SPACES

40

LAND DETAILS

LAND ACRES

1.18 AC

LAND SF

51,401 SF

ZONING

RD40

APN/PARCEL ID

283-0050-034

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.