Skip to main content

Multifamily

3309 1st Ave

3309 1st Ave, Sacramento, CA 95817

Listing Price: $1,449,999

Cap Rate
4.91%
Number of Units
8
GRM
11.46
Occupancy
97.0%
Price/Unit
$181,250
Price/Gross SF
$369.14
Gross SF
3,928

Investment Overview

Marcus & Millichap is pleased to present 3309 1st Avenue in Sacramento, California. Constructed in 1950, this building is comprised of eight (8) spacious one-bedroom/one-bathroom units at approximately 491 square feet each. The gated property features a pitched shingle composition roof, stucco/wood siding, a majority of dual-pane windows, updated electrical panels, wall heat and air units, and on-site laundry facility. This property is located in the very popular Triangle District area of North Oak Park. The building is optimally located within walking distance of coffee shops, restaurants, McGeorge School of Law, UC Davis Medical Center, and Aggie Square Innovation Hub. In addition, the location offers immediate access to Midtown and Downtown Sacramento, Highway 50, Highway 99, and Business Loop 80.

3309 1st Ave is located within a mile from the under-construction Aggie Square Innovation Hub which is a planned innovation district on UC Davis' Sacramento campus that will include research programs, private industry partners, classrooms, housing, a public-facing programs aimed to engage local communities and entrepreneurs. Additionally Downtown and Midtown Sacramento are experiencing unprecedented growth in both residential and commercial development. The immediate area is undergoing an immense revitalization with the new Railyards redevelopment project that will be anchored by Kaiser Hospital's new 400,000 square-foot, over $1-billion development, the Railyards will be a mixed-use hub for entertainment, retail, housing, office, theaters, parks, hotels, and museums. The affordability gap between homeownership and rents allows 3309 1st Ave to be well-positioned for long-term appreciation and consistent cash flow.

DRIVE BY ONLY. ALL PROPERTY SHOWINGS ARE SUBJECT TO SELLER ACCEPTED OFFER ONLY. PLEASE CONSULT MARCUS & MILLICHAP LISTING AGENT FOR MORE DETAILS. PLEASE DO NOT DISTURB TENANTS.

Investment Highlights

  • Mile From UC Davis Medical Center & UC Davis Aggie Square Innovation Hub
  • Located in Triangle District Area of North Oak Park
  • Quick Access to Major Freeways, Midtown, and Downtown
  • Pitched Comp Roof, Majority Dual Pane Windows, and Updated Electrical Panels
  • Opportunity to Implement a RUBS Program

Exclusively Listed By

Multifamily

3309 1st Ave

Listing Price: $1,449,999

Cap Rate
4.91%
Number of Units
8
GRM
11.46
Occupancy
97.0%
Price/Unit
$181,250
Price/Gross SF
$369.14
Gross SF
3,928

Investment Highlights

  • Mile From UC Davis Medical Center & UC Davis Aggie Square Innovation Hub
  • Located in Triangle District Area of North Oak Park
  • Quick Access to Major Freeways, Midtown, and Downtown
  • Pitched Comp Roof, Majority Dual Pane Windows, and Updated Electrical Panels
  • Opportunity to Implement a RUBS Program

Investment Overview

Marcus & Millichap is pleased to present 3309 1st Avenue in Sacramento, California. Constructed in 1950, this building is comprised of eight (8) spacious one-bedroom/one-bathroom units at approximately 491 square feet each. The gated property features a pitched shingle composition roof, stucco/wood siding, a majority of dual-pane windows, updated electrical panels, wall heat and air units, and on-site laundry facility. This property is located in the very popular Triangle District area of North Oak Park. The building is optimally located within walking distance of coffee shops, restaurants, McGeorge School of Law, UC Davis Medical Center, and Aggie Square Innovation Hub. In addition, the location offers immediate access to Midtown and Downtown Sacramento, Highway 50, Highway 99, and Business Loop 80. 3309 1st Ave is located within a mile from the under-construction Aggie Square Innovation Hub which is a planned innovation district on UC Davis' Sacramento campus that will include research programs, private industry partners, classrooms, housing, a public-facing programs aimed to engage local communities and entrepreneurs. Additionally Downtown and Midtown Sacramento are experiencing unprecedented growth in both residential and commercial development. The immediate area is undergoing an immense revitalization with the new Railyards redevelopment project that will be anchored by Kaiser Hospital's new 400,000 square-foot, over $1-billion development, the Railyards will be a mixed-use hub for entertainment, retail, housing, office, theaters, parks, hotels, and museums. The affordability gap between homeownership and rents allows 3309 1st Ave to be well-positioned for long-term appreciation and consistent cash flow. DRIVE BY ONLY. ALL PROPERTY SHOWINGS ARE SUBJECT TO SELLER ACCEPTED OFFER ONLY. PLEASE CONSULT MARCUS & MILLICHAP LISTING AGENT FOR MORE DETAILS. PLEASE DO NOT DISTURB TENANTS.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower