Multifamily

Courtyard Del Rey

Listing Price: Request For Offer

Investment Overview

Marcus & Millichap is pleased to present Casa Del Rey & Courtyard Del Rey, two charming turn of the century apartments communities located in Sacramentos highly desirable Boulevard Park neighborhood. The two adjacent buildings exclusively consist of One-Bedroom / One-Bathroom units, which is an attractive unit mix for Midtowns renter community as urban apartment dwellers demand smaller, more affordable living spaces.

Although on separate parcels and quite different architecturally, Casa Del Rey & Courtyard have been owned and operated together for the past 20 years as current ownership realized the functional benefits of operating the properties together. Courtyard (13 units), was built in 1922 and features highly coveted Spanish Revival architecture with rounded arch entry ways, transom windows, and Spanish Clay Barrel tile roofing. Casa Del Rey (16 units), was built in 1915 and is a classic four-story elevator-serviced Italian Renaissance apartment building. The building contains an unfinished large basement and a potential roof top patio area, which provides the next savvy investor an opportunity to follow a value-add model of creating common area amenities in urban cores, proven out by comps in the area. In recent years, investors have flocked to the Downtown/Midtown Sacramento area to modernize and restore the charm of early 20th century gems such as Casa Del Rey & Courtyard. Both properties, although in exceptionally good physical condition currently, provide the new investor an opportunity to create the next modern, yet classic urban Sacramento oasis.

The properties are specifically located in the Boulevard Park neighborhood of Midtown, one of Sacramentos most affluent and desirable places to live. Boulevard Park boasts a median household value of over $500,000, which ranks 68-percent higher than the rest of Sacramento. Developers have taken note and Boulevard Park is now home to numerous new housing and commercial projects, most notably the recent completion H16 Apartments (90 units) and the construction of Elements of Mansion Inn (190 units), both one block north from Casa Del Rey & Courtyard.

Residents want and will continue to live at Casa Del Rey & Courtyard Del Rey because of the properties proximity to boutique shopping, some of the Farm to Fork Capitals most famous eateries, and being walking distance to Downtown Sacramento, the California Central Valleys largest employment hub. As coastal Californians continue to move east and accelerate Sacramentos renaissance, Casa Del Rey & Courtyard Del Rey represent a unique investment opportunity to purchase 29 venerable apartments units in the heart of the of the fastest growing city in the state.

Please do not disturb management or residents. All tours must be scheduled with listing agents.

Investment Highlights

  • Charming Turn of the Century Architecture
  • Multi-Faceted Value Add Opportunity in Opportunity Zone
  • Walking Distance to California State Capitol and Golden 1 Center

Exclusively Listed By

  • Tony DeLoney

    Senior Managing Director Investments

    (916) 724-1363

    Email Tony

    License(s): CA: 01920427

    Sacramento

  • David DeLoney

    Senior Associate

    Email David

    License(s): CA: 02045150

    Sacramento

Listing Price: Request For Offer

Investment Highlights

  • Charming Turn of the Century Architecture
  • Multi-Faceted Value Add Opportunity in Opportunity Zone
  • Walking Distance to California State Capitol and Golden 1 Center

Investment Overview

Marcus & Millichap is pleased to present Casa Del Rey & Courtyard Del Rey, two charming turn of the century apartments communities located in Sacramentos highly desirable Boulevard Park neighborhood. The two adjacent buildings exclusively consist of One-Bedroom / One-Bathroom units, which is an attractive unit mix for Midtowns renter community as urban apartment dwellers demand smaller, more affordable living spaces.

Although on separate parcels and quite different architecturally, Casa Del Rey & Courtyard have been owned and operated together for the past 20 years as current ownership realized the functional benefits of operating the properties together. Courtyard (13 units), was built in 1922 and features highly coveted Spanish Revival architecture with rounded arch entry ways, transom windows, and Spanish Clay Barrel tile roofing. Casa Del Rey (16 units), was built in 1915 and is a classic four-story elevator-serviced Italian Renaissance apartment building. The building contains an unfinished large basement and a potential roof top patio area, which provides the next savvy investor an opportunity to follow a value-add model of creating common area amenities in urban cores, proven out by comps in the area. In recent years, investors have flocked to the Downtown/Midtown Sacramento area to modernize and restore the charm of early 20th century gems such as Casa Del Rey & Courtyard. Both properties, although in exceptionally good physical condition currently, provide the new investor an opportunity to create the next modern, yet classic urban Sacramento oasis.

The properties are specifically located in the Boulevard Park neighborhood of Midtown, one of Sacramentos most affluent and desirable places to live. Boulevard Park boasts a median household value of over $500,000, which ranks 68-percent higher than the rest of Sacramento. Developers have taken note and Boulevard Park is now home to numerous new housing and commercial projects, most notably the recent completion H16 Apartments (90 units) and the construction of Elements of Mansion Inn (190 units), both one block north from Casa Del Rey & Courtyard.

Residents want and will continue to live at Casa Del Rey & Courtyard Del Rey because of the properties proximity to boutique shopping, some of the Farm to Fork Capitals most famous eateries, and being walking distance to Downtown Sacramento, the California Central Valleys largest employment hub. As coastal Californians continue to move east and accelerate Sacramentos renaissance, Casa Del Rey & Courtyard Del Rey represent a unique investment opportunity to purchase 29 venerable apartments units in the heart of the of the fastest growing city in the state.

Please do not disturb management or residents. All tours must be scheduled with listing agents.

Exclusively Listed By

  • Tony DeLoney

    Senior Managing Director Investments

    (916) 724-1363

    Email Tony

    License(s): CA: 01920427

    Sacramento

  • David DeLoney

    Senior Associate

    Email David

    License(s): CA: 02045150

    Sacramento

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