Multifamily

617 Maple St

617 Maple Street West Sacramento, CA, USA, West Sacramento, CA 95691

Listing Price: $950,000

Cap Rate
5.65%
Number of Units
8
GRM
11.14
Occupancy
97.0%
Price/Unit
$118,750
Price/Gross SF
$289.63
Gross SF
3,280

Investment Overview

Marcus & Millichap is pleased to present 617 Maple Street in West Sacramento, California. This is a single-story building comprising of eight one-bedroom/one-bathroom units at approximately 410 square feet. The building was built in 1959 and features a pitched composite roof, stucco exteriors, and dual pane windows. The property interior and exterior has been renovated in the last five to seven years including new paint, windows, and a full remodel of 93 percent of units. Units feature tile flooring throughout, granite countertops, upgraded kitchen cabinets, and wall heat and air. Currently, the rents are well below market however with a modest six percent rent increase in year one would increase the Cap Rate to 6.18 percent and Cash-on-Cash to 8.79 percent. The majority of this asset is turnkey with low maintenance interior features and is well located near Downtown/Midtown Sacramento. A new investor has the opportunity to purchase an asset with rental upside potential in year one within a supply constraint market and with attractive cash flow returns day one.

617 Maple Street is located near the main arteries of Sacramento, Interstate 5, Business 80 and Highway 50 allowing immediate access to the freeway and is minutes from vibrant Downtown/Midtown Sacramento. West Sacramento is home to an abundance of predominant State and corporate employers including West Sacramento City Hall, California Highway Patrol Academy, CalSTRS headquarters, Raley's national headquarters, State of California Department of General Services, UPS regional Processing center, USPS Distribution Center, and FedEx Freight. Additionally, tenants have access to major retail centers including the Wal-Mart Super Center, Home Depot, and IKEA. Residents of West Sacramento enjoy an array of activities including Raley Field (affiliate team of SF Giants), The Barn indoor/outdoor venue, 188-acre Bridge District development, Riverwalk Park, hiking, and biking trails along the Sacramento river.

Located in Yolo County, West Sacramento has experienced rapid growth in population expanding from 17,129 residents in 2000, to an estimated population of 52,981 in 2016. In 2014, West Sacramento was named the Most Livable City in America with fewer than 100,000 residents by the United States Conference of Mayors. In recent years, Sacramento has been in the top of the list in the nation for rent growth, and as a result West Sacramento is experiencing the effects of rental growth. Project West near the West Sacramento riverfront, the New Golden 1 Center Arena, and the Railyards project which is one of the largest undeveloped urban sites in the United States will help continue to drive growth. This investment is well suited to provide investors with healthy cash flow returns and long-term appreciation.

PLEASE CONSULT MARCUS & MILLICHAP LISTING AGENT FOR MORE DETAILS.

Investment Highlights

  • Single Level Building With Pitched Comp Roof, Stucco Exteriors, and Dual Pane Windows
  • Seven of Eight Units Renovated in the Last Five to Seven Years
  • 7.04 Percent Cash-on-Cash Day One
  • 93 Percent Remodeled Units- Tile Flooring, Upgraded Kitchen Cabinets, Upgraded Baths
  • Located Within Two Miles of Downtown/Midtown
  • Minutes From Major Sacramento Highways/Freeways- I-5, HWY-80, and HWY-50

Exclusively Listed By

Listing Price: $950,000

Cap Rate
5.65%
Number of Units
8
GRM
11.14
Occupancy
97.0%
Price/Unit
$118,750
Price/Gross SF
$289.63
Gross SF
3,280

Investment Highlights

  • Single Level Building With Pitched Comp Roof, Stucco Exteriors, and Dual Pane Windows
  • Seven of Eight Units Renovated in the Last Five to Seven Years
  • 7.04 Percent Cash-on-Cash Day One
  • 93 Percent Remodeled Units- Tile Flooring, Upgraded Kitchen Cabinets, Upgraded Baths
  • Located Within Two Miles of Downtown/Midtown
  • Minutes From Major Sacramento Highways/Freeways- I-5, HWY-80, and HWY-50

Investment Overview

Marcus & Millichap is pleased to present 617 Maple Street in West Sacramento, California. This is a single-story building comprising of eight one-bedroom/one-bathroom units at approximately 410 square feet. The building was built in 1959 and features a pitched composite roof, stucco exteriors, and dual pane windows. The property interior and exterior has been renovated in the last five to seven years including new paint, windows, and a full remodel of 93 percent of units. Units feature tile flooring throughout, granite countertops, upgraded kitchen cabinets, and wall heat and air. Currently, the rents are well below market however with a modest six percent rent increase in year one would increase the Cap Rate to 6.18 percent and Cash-on-Cash to 8.79 percent. The majority of this asset is turnkey with low maintenance interior features and is well located near Downtown/Midtown Sacramento. A new investor has the opportunity to purchase an asset with rental upside potential in year one within a supply constraint market and with attractive cash flow returns day one.

617 Maple Street is located near the main arteries of Sacramento, Interstate 5, Business 80 and Highway 50 allowing immediate access to the freeway and is minutes from vibrant Downtown/Midtown Sacramento. West Sacramento is home to an abundance of predominant State and corporate employers including West Sacramento City Hall, California Highway Patrol Academy, CalSTRS headquarters, Raley's national headquarters, State of California Department of General Services, UPS regional Processing center, USPS Distribution Center, and FedEx Freight. Additionally, tenants have access to major retail centers including the Wal-Mart Super Center, Home Depot, and IKEA. Residents of West Sacramento enjoy an array of activities including Raley Field (affiliate team of SF Giants), The Barn indoor/outdoor venue, 188-acre Bridge District development, Riverwalk Park, hiking, and biking trails along the Sacramento river.

Located in Yolo County, West Sacramento has experienced rapid growth in population expanding from 17,129 residents in 2000, to an estimated population of 52,981 in 2016. In 2014, West Sacramento was named the Most Livable City in America with fewer than 100,000 residents by the United States Conference of Mayors. In recent years, Sacramento has been in the top of the list in the nation for rent growth, and as a result West Sacramento is experiencing the effects of rental growth. Project West near the West Sacramento riverfront, the New Golden 1 Center Arena, and the Railyards project which is one of the largest undeveloped urban sites in the United States will help continue to drive growth. This investment is well suited to provide investors with healthy cash flow returns and long-term appreciation.

PLEASE CONSULT MARCUS & MILLICHAP LISTING AGENT FOR MORE DETAILS.

Exclusively Listed By

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