Investment Overview

Marcus & Millichap is pleased to present Gold Oaks Apartments, a charming 28-unit apartment community nestled in the Sierra Nevada foothill town of Cameron Park, CA . The three parcel community was built in two phases, but currently operate as a single complex . Eighteen of the units were built in 1988 and the additional ten units were built in 2008. The spacious units feature exclusively two and three bedroom floorplans. Each unit has either a balcony or a spacious yard in the back that borders a seasonal creek, adding to the tranquil setting of the community. Residents are attracted to the property because of the onsite laundry, central HVAC, swimming pool, dishwashers, and garbage disposals, all of which are functional advantages over the nearby rental comparables. A recent rent survey strongly suggest a 25% loss-to-lease upside thesis with moderate turn quality upgrades. The demand is very strong in Cameron Park and El Dorado County. The property is located nearby US highway 50, allowing residents convenient commuting access to Sacramento to the west and Placerville to the east. Major retailers and grocers are located around the corner at the intersection Green Valley and Cambridge roads. Cameron Park living allows tenants a slower pace lifestyle but also provides close proximity to major employment opportunities of the Sacramento MSA. Tours will be allowed with listing agents present. Do not disturb management or tenants.