Investment Overview

Marcus & Millichap is pleased to present a beautifully remodeled 12-unit apartment community for sale at 1626 27th Street in Midtown Sacramento. The property was originally built in 1955 but went under extensive renovations in 2018. The 2018 renovation brought the building back down to the studs as everything functionally and cosmetically were replaced. The unit interiors, stucco siding, double plane windows, roof, and plumbing all are new. Though property was recently rehabbed, competitive rental comparables suggest that today’s rent roll is more than 17% under market, giving the next savvy owner to add value without having to spend capital expenditure dollars to get there. The property also features four income producing tuck under parking spots with private gated access into the courtyard. The property is located in one of the best rental locations in the entire California central valley. Nestled in the heart of Midtown, the property affords residents walking distance access to some of Sacramento’s best entertainment and employment opportunities. Most notably, Sutter Medical Center Sacramento is located four blocks away. The property represents a unique opportunity to own beautifully renovated California real estate far below replacement cost in Sacramento’s most coveted rental market. Current ownership has an assumable note on the property that is fixed at 3.55% and is due in 2035. The attractive financing terms provide safety and insulates a new buyer from interest rate hikes in the future. All tours must be scheduled with the listing agents. Please do not disturb management or tenants.