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Mixed-Use

2860 Florin Road

2860 Florin Rd, Sacramento, CA 95822

Listing Price: $2,000,000

Cap Rate
4.56%
Number of Units
10
Occupancy
98.0%
Price/Unit
$200,000
Price/Gross SF
$46.80
Gross SF
42,734

Investment Overview

Marcus & Millichap is pleased to present 2860 Florin Boulevard in Sacramento, California. 2860 Florin Road represents a rare opportunity for an investor to acquire a multi-use apartment and retail complex with excess land for development. The apartment building at the rear south end of the parcel is 10 units, which are comprised of 6 two-bedroom/one-bathroom units of approximately 650 square feet and four one-bedroom/one-bathroom units of approximately 500 square feet. Select units feature ceiling fans and garbage disposals. Additional tenant amenities include ample open parking and a laundry room. The current rents are approximately 40 percent under market and offer future upside to the ownership. The middle portion of the lot contains empty land which is rented to a non-profit, and the north end of the lot is comprised of a three-suite freestanding retail building of approximately 3,600 square feet, all on month-to-month leases. The property sits on .98 acres on a rectangular-shaped lot situated on a hard corner of Florin Road at 29th Street, which is a major east-west thoroughfare with an approximate daily traffic count of 34,000 cars per day. With excess land, 10 apartment units, and a freestanding retail building, a new investor is afforded multiple income streams (Zoned C- 2 (General Commercial) and a myriad of potential exits strategies. The prime location of the property affords tenants convenient access to shopping, employment centers, public transportation, and schools. Additionally, the parcel is in an Opportunity Zone and is within a one-half mile to the light rail platform - within the Florin Road Corridor Design Review District.

Investment Highlights

  • Value-Add Opportunity
  • 60 Percent Two-Bedrooms
  • Within Walking Distance to Blue Line Light Rail
  • Convenient Access to Highway I-5, Highway 99, Employment Centers, Shopping, and Downtown Sacramento
  • Excess Land for Potential Urban Infill Development

Exclusively Listed By

Financing By

Listing Price: $2,000,000

Cap Rate
4.56%
Number of Units
10
Occupancy
98.0%
Price/Unit
$200,000
Price/Gross SF
$46.80
Gross SF
42,734

Investment Highlights

  • Value-Add Opportunity
  • 60 Percent Two-Bedrooms
  • Within Walking Distance to Blue Line Light Rail
  • Convenient Access to Highway I-5, Highway 99, Employment Centers, Shopping, and Downtown Sacramento
  • Excess Land for Potential Urban Infill Development

Investment Overview

Marcus & Millichap is pleased to present 2860 Florin Boulevard in Sacramento, California. 2860 Florin Road represents a rare opportunity for an investor to acquire a multi-use apartment and retail complex with excess land for development. The apartment building at the rear south end of the parcel is 10 units, which are comprised of 6 two-bedroom/one-bathroom units of approximately 650 square feet and four one-bedroom/one-bathroom units of approximately 500 square feet. Select units feature ceiling fans and garbage disposals. Additional tenant amenities include ample open parking and a laundry room. The current rents are approximately 40 percent under market and offer future upside to the ownership. The middle portion of the lot contains empty land which is rented to a non-profit, and the north end of the lot is comprised of a three-suite freestanding retail building of approximately 3,600 square feet, all on month-to-month leases. The property sits on .98 acres on a rectangular-shaped lot situated on a hard corner of Florin Road at 29th Street, which is a major east-west thoroughfare with an approximate daily traffic count of 34,000 cars per day. With excess land, 10 apartment units, and a freestanding retail building, a new investor is afforded multiple income streams (Zoned C- 2 (General Commercial) and a myriad of potential exits strategies. The prime location of the property affords tenants convenient access to shopping, employment centers, public transportation, and schools. Additionally, the parcel is in an Opportunity Zone and is within a one-half mile to the light rail platform - within the Florin Road Corridor Design Review District.

Exclusively Listed By

Financing By

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