Investment Overview

Marcus & Millichap is pleased to announce the exclusive opportunity to acquire a +/- 1.5 acre (65,564S SF) development site to include a 110-unit mix-used building of both Type IA (ground floor) + Type IIIA (apartments). The property consists of seven, contiguous parcels, zoned for C-2 General Commercial which allows a new investor the opportunity to develop two (2) new ground floor retail/coffee/restaurant spaces, and four floors consisting of 108 apartment units. This site sits on the corner of Marysville & Arcade Blvd just off of Highway 80 in the Hagginwood neighborhood and just a few minutes from Arden Fair Mall. The current plans include 6,155 SF of ground-level retail, gym, bike room, and lobby, and 113,438 SF of apartments spread over four stories comprised of one (1) and two (2) bedroom apartments immersed in a tree-lined business park setting with ample off-street parking for tenants and bicyclist. The current unit mix includes forty-one (41) one (1) bedroom apartments and sixty-seven (67) two (2) bedroom apartments. Sacramento’s apartment market remains one of the most sought-after secondary markets in the country. Quarterly sales volume revealed elevated levels of buyer demand and the quarterly average price per unit posted a record high. A competitive sales market has placed downward pressure on average cap rates, which fell to an all-time low in Q1 2022. The Sacramento region has been one of the most resilient apartment markets in the country and never posted a pandemic-related downturn in occupancy or rents. ***DRIVE BY ONLY. ALL PROPERTY SHOWINGS ARE SUBJECT TO SELLER ACCEPTED OFFER ONLY. PLEASE CONSULT MARCUS & MILLICHAP LISTING AGENT FOR MORE DETAILS.***