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Bryan Powell

[email protected] +1(916) 521-4687

$ 6,390,000

Est. payment -/mo

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4661 Orange Grove AVE Sacramento, CA 95841

31,551 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type 5 or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 31,551 sqft

Price per Sqft $202

MLS Listing ID 225040827

HOA Y/N No

Originating Board MLS Metrolist

Year Built 1963

Lot Size 1.430 Acres

Acres 1.43

Property Sub-Type 5 or More Units

Property Description

Orange Grove Apartments for sale. The 46-unit property is located in Sacramento California and was originally constructed in 1963. The property has seen numerous upgrades over the last several years. The garden style apartment building features a diverse unit mix with 26 One Bedroom / One Bathroom units averaging 650 rentable square feet, and 20 Two Bedroom / One Bathroom units averaging 850 rentable square feet. The average rent on the rent roll today is $1,395/mo. Assuming the remainder of the unrenovated units get upgraded and the next owner collapses all the embedded loss to lease, there's 9% upside in income pro forma. With most of the units being renovated by the current owner, the new purchaser will inherit a stable operation with continued operational upside in a submarket that isn't suited for any new construction competition. Most units have seen upgraded granite counter tops, LVP flooring, and new appliances. The large floorplans attract a resident profile that wants to stay longer than the initial lease term.

Location

State CA

County Sacramento

Area 10841

Direction From Auburn Blvd, turn east onto Orange Grove Ave. Property is on the north side of street.

Interior

Heating Wall Furnace

Cooling Window Unit(s)

Flooring Vinyl, Varies by Unit

Laundry Washer/Dryer Leased

Exterior

Parking Features Open

Utilities Available City

Water Access Desc Public

Total Parking Spaces 46

Building

Lot Description None

Story 2

Foundation Slab

Sewer Public Sewer

Water Public

Schools

Elementary Schools San Juan Unified

Middle Schools San Juan Unified

High Schools San Juan Unified

School District Sacramento

Others

Senior Community No

Tax ID 240-0062-051-0000

Special Listing Condition None

Listed by Marcus & Millichap Real Estate

Bryan Powell

Broker | CA DRE#02003689

+1(916) 521-4687

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Bryan Powell

4661 Orange Grove AVE Sacramento, CA 95841

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4661 Orange Grove AVE