$2,800,000
$2,995,000
6.5%For more information regarding the value of a property, please contact us for a free consultation.
Address not disclosed Sacramento, CA 95821
16,200 SqFt
Key Details
Sold Price $2,800,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
Square Footage 16,200 sqft
Price per Sqft $172
MLS Listing ID ML81727953
Sold Date 12/17/19
HOA Y/N No
Year Built 1958
Lot Size 0.975 Acres
Acres 0.9752
Property Description
This 24 unit garden apartment complex in the Arden Arcade area of Sacramento offers immediate upside with below market rents. 9 two bedroom and 15 one bedroom units are individually metered for gas and electricity, paid by tenants. A nearly one acre lot offers off-street parking for all tenants. Sacramento, and the Arden Arcade area, have experienced strong rent growth in the last few years while vacancies remain at a historic low. As the seat of California's government, Sacramento offers a stable government job base and an expanding private sector. Exceptional job growth has attracted a growing renter population in recent years. The complex is located just miles from several major employers. With close proximity to Highway 80, the location offers easy access to Town and Country Village, Arden Fair Mall, Country Club Plaza and various other shopping and entertainment venues.
Location
State CA
County Sacramento
Area 699 - Not Defined
Zoning RD-30
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Roof Type Composition
Total Parking Spaces 24
Building
Water Public
Schools
School District Sacramento City Unified
Others
Tax ID 26600400600000
Financing Cash
Special Listing Condition Standard
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Bought with REID SETTLEMIER
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Broker | License ID: DRE#01976964