Multifamily
Shelfield Apartments
5800 Fair Oaks Blvd, Carmichael, CA 95608
Listing Price: $4,900,000
Investment Overview
Marcus & Millichap is pleased to offer Shelfield Apartments for sale as a value-add opportunity in Carmichael, California. The property features a smattering of very unique floorplans, complete with interior hallways and architectural accents unique to the 1960s. Residents are treated to on-site laundry facilities, a private courtyard swimming pool and tuck under parking for their vehicles. All but the studio floorplans enjoy central HVAC.
The property is currently 33% vacant with six units being offline altogether from fire and water intrusion. While the roof is brand new, the next owner will have the unique opportunity to bring this gem of a property back to its glory complete with modern interior upgrades and exterior improvements to landscape and structure.
Nearby condos sell for over $1million with some homes exceeding $2million in recent sales. Residents living at Shelfield also enjoy convenient access to premier Carmichael shopping options at nearby Milagro Centre and Five Points. Outdoor enthusiasts are also attracted to the nearby American River Parkway, providing access to a well-known 32-mile Jedidiah Smith Memorial Bike trail.
Shelfield Apartments
Investment Highlights
- Value-add opportunity. 33% of property is currently vacant, with a total of six units being offline altogether. Opportunity rehab to a modern spec consistent with nearby comps and push market rents.
- Located inside the boundaries of the Carmichael Improvement District providing services to property owners and beautifying the Fair Oaks Blvd corridor.
- Unique floorplans in a highly desirable location sandwiched between Ancil Hoffman Municipal Golf Course, Five Points Shopping Center and Milagro Centre.
- Brand new roof, additional renovation opportunities available .
Exclusively Listed By
Listing Price: $4,900,000
Investment Highlights
- Value-add opportunity. 33% of property is currently vacant, with a total of six units being offline altogether. Opportunity rehab to a modern spec consistent with nearby comps and push market rents.
- Located inside the boundaries of the Carmichael Improvement District providing services to property owners and beautifying the Fair Oaks Blvd corridor.
- Unique floorplans in a highly desirable location sandwiched between Ancil Hoffman Municipal Golf Course, Five Points Shopping Center and Milagro Centre.
- Brand new roof, additional renovation opportunities available .
Investment Overview
Marcus & Millichap is pleased to offer Shelfield Apartments for sale as a value-add opportunity in Carmichael, California. The property features a smattering of very unique floorplans, complete with interior hallways and architectural accents unique to the 1960s. Residents are treated to on-site laundry facilities, a private courtyard swimming pool and tuck under parking for their vehicles. All but the studio floorplans enjoy central HVAC. The property is currently 33% vacant with six units being offline altogether from fire and water intrusion. While the roof is brand new, the next owner will have the unique opportunity to bring this gem of a property back to its glory complete with modern interior upgrades and exterior improvements to landscape and structure. Nearby condos sell for over $1million with some homes exceeding $2million in recent sales. Residents living at Shelfield also enjoy convenient access to premier Carmichael shopping options at nearby Milagro Centre and Five Points. Outdoor enthusiasts are also attracted to the nearby American River Parkway, providing access to a well-known 32-mile Jedidiah Smith Memorial Bike trail.
Exclusively Listed By
To view property details and documents, sign up for a free MyMMI account.
Explore exclusive listings, access research insights, and set up automated alerts for a personalized experience. Sign up now to elevate your property search.