Investment Overview

The DeLoney Group is pleased to offer for sale Coyle Creek Commons Apartments in Fair Oaks, California, a suburb east of Sacramento, known as a desirable bedroom community with highly rated schools. This 48-unit property was constructed in 1976 with forward thinking design elements for the era including lightweight concrete between floors, large two bedroom units with a full second bath, individual hot water heaters and central HVAC. The property has seen many upgrades, especially since the mid 2000s. 46 of the 48 units now include in-suite laundry. Some units include granite countertops and crown molding; a limited number even include skylights in the kitchen area. All units have been retrofitted to include double pane windows and all balconies were replaced in the past 8 years. The average rent in place today at Coyle Creek is $1806/mo. In the past rents over $2000/mo have been achieved. Most recent leases have signed at $1949, representing a 7.4% loss-to-lease over current average. The savvy investor will recognize the high-quality bones of this property, with modern functionality and an extraordinarily desirable unit mix that not only achieves higher rents than many competitors but tends to increase duration of stays for the residents. Do not disturb management. All tours must be coordinated with Tony DeLoney.