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Multifamily

5905 Gilman Way

5905 Gilman Way, North Highlands, CA 95660

Listing Price: $1,460,000

Cap Rate
5.64%
Number of Units
6
Price/Unit
$243,333
Price/Gross SF
$177.62
Gross SF
8,220

Investment Overview

Marcus & Millichap is pleased to present 5905 Gilman Way apartments located in North Highlands, California. The property was constructed in 1961 and consists of six large three-bedroom/one-bathroom floorplans that are approximately 1,460 square feet. All the units have had interior upgrades including new countertops and kitchen cabinets, new laminate flooring, new tub surrounds, and fresh interior paint. The exterior has been freshly painted and has new dual pane windows. Current ownership has also installed a new roof-mounted solar system, which reduces the monthly electrical bill. Unit building amenities include central heat and air, open parking, and a coin-operated laundry room. Existing rents average $1,779, and a new owner should be able to achieve 25 percent upside by making cosmetic upgrades to the interiors and push rents to market. CoStar is predicting continued robust rent growth for the greater Sacramento and North Highlands region in the next five years; thus a new owner will be poised to realize consistently increased cash flows for years to come. 5905 Gilman is in a Northeast suburb of Sacramento known as North Highlands, which has historically been a steady and robust workforce housing-oriented rental market. The property is centrally located within Sacramento County and offers tenants convenient access to both Sacramento and Placer Counties via its proximity to highway 80. Due to its central location, tenants are within a 10–15-minute drive to shopping, multiple employment centers, schools, public transportation, highways 80 and 50, and is within a few hours’ drive of Lake Tahoe.

Investment Highlights

  • 5.64 Percent Cap Rate, $166 Square Foot
  • Large Three-Bedroom/One-Bathroom 1,460 Square Foot Floorplans
  • Upside in the Existing Rents
  • Roof Solar Panels Included in the Sale

Exclusively Listed By

Multifamily

5905 Gilman Way

Listing Price: $1,460,000

Cap Rate
5.64%
Number of Units
6
Price/Unit
$243,333
Price/Gross SF
$177.62
Gross SF
8,220

Investment Highlights

  • 5.64 Percent Cap Rate, $166 Square Foot
  • Large Three-Bedroom/One-Bathroom 1,460 Square Foot Floorplans
  • Upside in the Existing Rents
  • Roof Solar Panels Included in the Sale

Investment Overview

Marcus & Millichap is pleased to present 5905 Gilman Way apartments located in North Highlands, California. The property was constructed in 1961 and consists of six large three-bedroom/one-bathroom floorplans that are approximately 1,460 square feet. All the units have had interior upgrades including new countertops and kitchen cabinets, new laminate flooring, new tub surrounds, and fresh interior paint. The exterior has been freshly painted and has new dual pane windows. Current ownership has also installed a new roof-mounted solar system, which reduces the monthly electrical bill. Unit building amenities include central heat and air, open parking, and a coin-operated laundry room. Existing rents average $1,779, and a new owner should be able to achieve 25 percent upside by making cosmetic upgrades to the interiors and push rents to market. CoStar is predicting continued robust rent growth for the greater Sacramento and North Highlands region in the next five years; thus a new owner will be poised to realize consistently increased cash flows for years to come. 5905 Gilman is in a Northeast suburb of Sacramento known as North Highlands, which has historically been a steady and robust workforce housing-oriented rental market. The property is centrally located within Sacramento County and offers tenants convenient access to both Sacramento and Placer Counties via its proximity to highway 80. Due to its central location, tenants are within a 10–15-minute drive to shopping, multiple employment centers, schools, public transportation, highways 80 and 50, and is within a few hours’ drive of Lake Tahoe.

Exclusively Listed By

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