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Multifamily

2562-2570 Traction Avenue

2562-2570 Traction Ave, Sacramento, CA 95815

Listing Price: $3,399,000

Cap Rate
5.76%
Number of Units
22
Occupancy
100.0%
Price/Unit
$154,500
Price/Gross SF
$307.05
Gross SF
11,070

Investment Overview

Marcus & Millichap is pleased to present 2562-2570 Traction Avenue Apartments located in Old North Sacramento, California. The property consists of two buildings, 2562 Traction Avenue and 2560 Traction Avenue, constructed in 1960. In summation, 2562 and 2570 Traction Avenue, has a unit mix comprised of twenty two one-bedroom/one-bathroom units. All units are approximately 500 square feet. The buildings feature assigned parking and second level balconies. Home to the California state capital and rich with history and sense of community, the Sacramento Region is also known for its central location in the Golden State. Sacramento Region boasts a diversified economy with traditional and innovative economic activity that provides stability and growth to the market. Many companies are creating jobs and investing in the Sacramento Region escaping the high costs of the coastal cities without sacrificing the quality of facilities and workforce skills. 2562-2570 Traction Avenue is located in the Old North Sacramento area which is located in the North Sacramento/Natomas/North Highlands submarket, the Sacramento metro area’s largest multifamily submarket by total units. The market fundamentals in the submarket mirror the metro with significant but not outsized construction, very strong rent growth and sustained levels of low vacancy. There are few indications of market inefficiencies and signs are pointing toward continued growth. Rent growth is a dominant market theme throughout the Sacramento market and the North Sacramento/Natomas/North Highlands submarket is no exception. Over the past 12 months, the average rent has increased by 24 percent. With housing in short supply, rent increases are likely to continue. The Sacramento Region with its nearly 2.4 million residents and growing businesses is rapidly emerging as a national leader in several high growth technology fields. The region offers a welcoming business climate, an abundant and educated workforce from its world-class research and educational institutions, low costs of living and doing business and excellent schools.

Investment Highlights

  • On-Site Laundry
  • Upgraded Floors, Cabinets, Kitchen Countertops and Baths in Some Units
  • 11 Units on Housing Assistance Programs Resulting in Consistent, Guaranteed Payments
  • New Exterior Paint
  • Renewed Exterior Fencing
  • Off-Street Parking
  • Highly Desirable One-Bedroom Units
  • Low Maintenance Landscaping

Exclusively Listed By

Multifamily

2562-2570 Traction Avenue

Listing Price: $3,399,000

Cap Rate
5.76%
Number of Units
22
Occupancy
100.0%
Price/Unit
$154,500
Price/Gross SF
$307.05
Gross SF
11,070

Investment Highlights

  • On-Site Laundry
  • Upgraded Floors, Cabinets, Kitchen Countertops and Baths in Some Units
  • 11 Units on Housing Assistance Programs Resulting in Consistent, Guaranteed Payments
  • New Exterior Paint
  • Renewed Exterior Fencing
  • Off-Street Parking
  • Highly Desirable One-Bedroom Units
  • Low Maintenance Landscaping

Investment Overview

Marcus & Millichap is pleased to present 2562-2570 Traction Avenue Apartments located in Old North Sacramento, California. The property consists of two buildings, 2562 Traction Avenue and 2560 Traction Avenue, constructed in 1960. In summation, 2562 and 2570 Traction Avenue, has a unit mix comprised of twenty two one-bedroom/one-bathroom units. All units are approximately 500 square feet. The buildings feature assigned parking and second level balconies. Home to the California state capital and rich with history and sense of community, the Sacramento Region is also known for its central location in the Golden State. Sacramento Region boasts a diversified economy with traditional and innovative economic activity that provides stability and growth to the market. Many companies are creating jobs and investing in the Sacramento Region escaping the high costs of the coastal cities without sacrificing the quality of facilities and workforce skills. 2562-2570 Traction Avenue is located in the Old North Sacramento area which is located in the North Sacramento/Natomas/North Highlands submarket, the Sacramento metro area’s largest multifamily submarket by total units. The market fundamentals in the submarket mirror the metro with significant but not outsized construction, very strong rent growth and sustained levels of low vacancy. There are few indications of market inefficiencies and signs are pointing toward continued growth. Rent growth is a dominant market theme throughout the Sacramento market and the North Sacramento/Natomas/North Highlands submarket is no exception. Over the past 12 months, the average rent has increased by 24 percent. With housing in short supply, rent increases are likely to continue. The Sacramento Region with its nearly 2.4 million residents and growing businesses is rapidly emerging as a national leader in several high growth technology fields. The region offers a welcoming business climate, an abundant and educated workforce from its world-class research and educational institutions, low costs of living and doing business and excellent schools.

Exclusively Listed By

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