$2,000,000

3130 3rd Avenue, Sacramento CA, 95817

Price per sqft$3,636.36

Built in1960

Property size550 sqft

Property typeMulti-family

Overview

Sold

Closed

Listed Feb 3, 2025

Updated May 29

3130 - 3132 3rd Ave in the Oak Park neighborhood is a sixteen-unit apartment community that features both one- and two-bedroom floorplans. The property is very well located, only minutes to downtown / midtown Sacramento, the region's economic and entertainment epicenter. As a part of the triangle district area of North Oak Park, residents are within walking distance to the regions preeminent medical care, UC Davis Medical Center and UC Davis Aggie Square Innovation Hub. The neighborhood also lies at the intersection of CA Hwy 99, US Hwy 50, and Interstate Business 80, allowing residents immediate access to all major throughways in the region. The property features off street alley parking, gated entry, and onsite laundry facilities. The offering represents a unique opportunity to purchase a cash flowing asset day one, but the next investor will have a clear-cut strategy to massively increase value through renovations and aggressive management. Competitive sets suggest that the September 2024 rent roll is approximately 20% below the market and the erosion of the loss to lease would push the capitalization rate to exceed 8%.

Additional information

MLS^® ID: 225012972

Interior Features

Bedrooms: 3
Bathrooms: 2
Cooling: Yes
Heating: Yes
Basement: No

Exterior Features

Lot Size: 0.28 Acres

Courtesy of Marcus & Millichap Real Estate, David DeLoney,
Listing Contact:

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