Multifamily
Magnolia Court Apartments
4831 Myrtle Ave, Sacramento, CA 95841
Listing Price: $11,800,000
Investment Overview
The DeLoney Group is pleased to offer for sale Magnolia Court Apartments in Sacramento, California. This 64-unit property was constructed in 1963 and has seen many upgrades in the past few years. 42 of the 64 units have been recently remodeled which includes in-suite laundry, upgraded countertops, hardware, lighting, flooring and appliances.
The average rent in place today at Magnolia Court is $1551/mo. Assuming the remainder of the unrenovated units get upgraded and the next owner collapses all embedded loss-to-lease, there's 7.6% upside in income pro forma. With most of the heavy lifting addressed by the current owner, the new purchaser will inherit a stable operation with continued operational upside and a product that will continue to remain in demand and functionally competitive with its large floor plans, central HVAC and in-suite laundry.
Do not disturb management. All tours must be coordinated with listing agent present.
Magnolia Court Apartments
Investment Highlights
- 42 units recently remodeled including in-suite laundry retrofit, new flooring, countertops, lighting, etc.
- New siding, paint, windows, sliders, signage and landscaping
- Convenient location nearby Interstate 80, near shopping and across the street from American River College
Exclusively Listed By
Listing Price: $11,800,000
Investment Highlights
- 42 units recently remodeled including in-suite laundry retrofit, new flooring, countertops, lighting, etc.
- New siding, paint, windows, sliders, signage and landscaping
- Convenient location nearby Interstate 80, near shopping and across the street from American River College
Investment Overview
The DeLoney Group is pleased to offer for sale Magnolia Court Apartments in Sacramento, California. This 64-unit property was constructed in 1963 and has seen many upgrades in the past few years. 42 of the 64 units have been recently remodeled which includes in-suite laundry, upgraded countertops, hardware, lighting, flooring and appliances. The average rent in place today at Magnolia Court is $1551/mo. Assuming the remainder of the unrenovated units get upgraded and the next owner collapses all embedded loss-to-lease, there's 7.6% upside in income pro forma. With most of the heavy lifting addressed by the current owner, the new purchaser will inherit a stable operation with continued operational upside and a product that will continue to remain in demand and functionally competitive with its large floor plans, central HVAC and in-suite laundry. Do not disturb management. All tours must be coordinated with listing agent present.
Exclusively Listed By
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