Investment Overview

Marcus & Millichap is happy to present 3650 Hallelujah Court, a trophy 4 – unit apartment building located in the heart of Carmichael, California. The property has a great unit mix of two and three Bedrooms units  total an average of 950 square feet.   The property represents a truly unique opportunity to own a post 1980 construction apartment property in the heart of the Sacramento suburbs. Most of the immediate comparable properties were built in the 1960’s and 1970’s, giving Hallelujah Court an immediate advantage over competitors in terms of functionality and living space. In addition to the spacious units, residents get access to a large garage from the private driveway. Though the property has many functional advantages, the purchaser will be awarded a value add opportunity because the current rental income is low. A rental market survey in the immediate vicinity suggests that current rents are in excess of 30% under market. When the purchaser moves rents to market, proforma return metrics suggest a 6.5% Cap Rate.   The property is located in the highly desirable Sacramento suburb of Carmichael. Residents are attracted to Carmichael because of it’s access to award winning schools, proximity to the American River Parkway, and the convenience of major retailers along the Fair Oaks Blvd commercial corridor. 3650 Hallelujah Court is walking distance to major grocery stores, national / regional banking branches, and 38 acre Carmichael Park.   All tours must be scheduled through the listing agents. Please do not disturb residents or management.