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Multifamily

Capitol View Apartments

1101-1021 G St, Sacramento, CA 95814

Listing Price: Request For Offer

Number of Units
40
Occupancy
100.0%

Investment Overview

Marcus & Millichap is pleased to offer for sale a one-of-a-kind opportunity to own Capitol View Apartments located at the corner of 10th and G Street in the iconic Alkaline Flats neighborhood in Downtown Sacramento. Investor's will recognize the irreplaceable value of the location which is walking distance from California's State Capitol, the brand new Golden1 Arena and the region's largest job market. Many of the residents living at Capitol View are white collar professionals with strong incomes connected to Sacramento's booming urban core. Sacramento is California's fastest growing metropolitan area and making national headlines for all-time record low vacancy rates. Competition for quality rental housing among residents is fierce, and a major advantage Capitol View offers is it's functional modernity when compared to the competition. Other than the few properties built in the past five years, most nearby rental stock was built between 1910 and 1975 with relatively few offering in-unit laundry, nine-foot ceilings, modern floorplans, private patios and balconies or central HVAC. Certainly even many newer properties do not offer anywhere near enough off-street parking to residents. Capitol View offers its residents all of this, placing it in a truly unique position as the modern yet affordable alternative to new class A midrise apartments. With this in mind, as units turn over and interior cosmetics are freshened up there is strong evidence of income upside potential exceeding 25 percent. Accelerating an already established trend, the adoption of remote working is bolstering tenant relocations to places like Sacramento. This property is the ideal benefactor for this sustained and growing trend.

Investment Highlights

  • Irreplaceable Location Just a Few Blocks from California's State Capitol and Sandwiched Between Billions of Dollars of Development Projects
  • Walk-Up Garden Variety 1991 Vintage with Modern Amenities that Can Compete Directly with Brand New Construction Nearby
  • Rare Off-Street Gated and Covered Downtown Parking with More than One Space Per Unit Available for Rent
  • Submarket and Renting Demographic Strongly Supports Huge Upside in Rents on Turnover with Interior Renovations
  • Highly Desirable Unit Mix and Spacious Floor Plans

Exclusively Listed By

Multifamily

Capitol View Apartments

Listing Price: Request For Offer

Number of Units
40
Occupancy
100.0%

Investment Highlights

  • Irreplaceable Location Just a Few Blocks from California's State Capitol and Sandwiched Between Billions of Dollars of Development Projects
  • Walk-Up Garden Variety 1991 Vintage with Modern Amenities that Can Compete Directly with Brand New Construction Nearby
  • Rare Off-Street Gated and Covered Downtown Parking with More than One Space Per Unit Available for Rent
  • Submarket and Renting Demographic Strongly Supports Huge Upside in Rents on Turnover with Interior Renovations
  • Highly Desirable Unit Mix and Spacious Floor Plans

Investment Overview

Marcus & Millichap is pleased to offer for sale a one-of-a-kind opportunity to own Capitol View Apartments located at the corner of 10th and G Street in the iconic Alkaline Flats neighborhood in Downtown Sacramento. Investor's will recognize the irreplaceable value of the location which is walking distance from California's State Capitol, the brand new Golden1 Arena and the region's largest job market. Many of the residents living at Capitol View are white collar professionals with strong incomes connected to Sacramento's booming urban core. Sacramento is California's fastest growing metropolitan area and making national headlines for all-time record low vacancy rates. Competition for quality rental housing among residents is fierce, and a major advantage Capitol View offers is it's functional modernity when compared to the competition. Other than the few properties built in the past five years, most nearby rental stock was built between 1910 and 1975 with relatively few offering in-unit laundry, nine-foot ceilings, modern floorplans, private patios and balconies or central HVAC. Certainly even many newer properties do not offer anywhere near enough off-street parking to residents. Capitol View offers its residents all of this, placing it in a truly unique position as the modern yet affordable alternative to new class A midrise apartments. With this in mind, as units turn over and interior cosmetics are freshened up there is strong evidence of income upside potential exceeding 25 percent. Accelerating an already established trend, the adoption of remote working is bolstering tenant relocations to places like Sacramento. This property is the ideal benefactor for this sustained and growing trend.

Exclusively Listed By

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