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Multifamily

4216 Lotus Ave

4216 Lotus Ave, Sacramento, CA 95822

Listing Price: $2,350,000

Cap Rate
3.54%
Number of Units
9
Price/Unit
$261,111
Price/Gross SF
$315.95
Gross SF
7,438

Investment Overview

Marcus & Millichap is pleased to exclusively present 4216 Lotus Avenue, which consists of nine rental units; an eight-unit apartment building and a large single family residence on one lot. The eight-unit building is comprised of four two-bedroom/one-bathroom units of approximately 728 square feet and four one-bedroom one-bathroom units of approximately 560 square feet. The four-bedroom/two-bathroom home is approximately 1900 square feet and has a one-car attached garage. The apartment building was constructed in +-1960, and features partial dual-pane windows, a combination of stucco and wood siding, a lush central courtyard, and eight assigned parking spaces at the rear of the property. The single-family home at the front of the parcel was built in the 1930’s and has great curb appeal and interior period detail. Existing rents at 4216 Lotus are approximately 20 percent under market and present a new investor with a value-add opportunity to update unit interiors and increase rents accordingly. The area median home price of $699.000 equates to an affordability differential of $1,600+ a month for a two-bedroom/one-bathroom rental, versus the approximate $3200 monthly payment on a 30-year mortgage at today’s rates. The property is centrally located within the Carlton Tract sub-market of Sacramento, and is directly adjacent to William Land Park, Curtis Park, the Sacramento Zoo, Sacramento City College, and the McKinley Village shopping center. The location also offers tenants convenient access to a myriad of retailers and shopping including Chipotle, Safeway, Peets Coffee, Starbucks, Raley’s, Jamba Juice, The Habit Burger, Pet Food Express, Freeport Bakery, Track 7 Brewing, Two Rivers Cider, and Fountainhead Brewing Company. Additionally, downtown Sacramento is within a few minutes’ drive of the property via Freeport Boulevard and/or highway 99 and Highway 5. Given its prime location, its superior unit mix, and strong demographic profile, 4216 Lotus Avenue will provide investors with solid cash flows and rental upside well into the future.

Investment Highlights

  • Value-Add Opportunity
  • Minutes to Sac City College and William Land Park
  • Adjacent $699,000 Median Home Price
  • Owner-User Opportunity - SFR Delivered Vacant
  • Significant Upside in Rents

Exclusively Listed By

Multifamily

4216 Lotus Ave

Listing Price: $2,350,000

Cap Rate
3.54%
Number of Units
9
Price/Unit
$261,111
Price/Gross SF
$315.95
Gross SF
7,438

Investment Highlights

  • Value-Add Opportunity
  • Minutes to Sac City College and William Land Park
  • Adjacent $699,000 Median Home Price
  • Owner-User Opportunity - SFR Delivered Vacant
  • Significant Upside in Rents

Investment Overview

Marcus & Millichap is pleased to exclusively present 4216 Lotus Avenue, which consists of nine rental units; an eight-unit apartment building and a large single family residence on one lot. The eight-unit building is comprised of four two-bedroom/one-bathroom units of approximately 728 square feet and four one-bedroom one-bathroom units of approximately 560 square feet. The four-bedroom/two-bathroom home is approximately 1900 square feet and has a one-car attached garage. The apartment building was constructed in +-1960, and features partial dual-pane windows, a combination of stucco and wood siding, a lush central courtyard, and eight assigned parking spaces at the rear of the property. The single-family home at the front of the parcel was built in the 1930’s and has great curb appeal and interior period detail. Existing rents at 4216 Lotus are approximately 20 percent under market and present a new investor with a value-add opportunity to update unit interiors and increase rents accordingly. The area median home price of $699.000 equates to an affordability differential of $1,600+ a month for a two-bedroom/one-bathroom rental, versus the approximate $3200 monthly payment on a 30-year mortgage at today’s rates. The property is centrally located within the Carlton Tract sub-market of Sacramento, and is directly adjacent to William Land Park, Curtis Park, the Sacramento Zoo, Sacramento City College, and the McKinley Village shopping center. The location also offers tenants convenient access to a myriad of retailers and shopping including Chipotle, Safeway, Peets Coffee, Starbucks, Raley’s, Jamba Juice, The Habit Burger, Pet Food Express, Freeport Bakery, Track 7 Brewing, Two Rivers Cider, and Fountainhead Brewing Company. Additionally, downtown Sacramento is within a few minutes’ drive of the property via Freeport Boulevard and/or highway 99 and Highway 5. Given its prime location, its superior unit mix, and strong demographic profile, 4216 Lotus Avenue will provide investors with solid cash flows and rental upside well into the future.

Exclusively Listed By

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