Multifamily

Hollywood Park Villas

Listing Price: $2,648,888

Cap Rate
5.14%
Number of Units
14
GRM
12.80
Occupancy
97.00%
Price/Unit
$189,206
Price/Gross SF
$287.92
Gross SF
9,200

Investment Overview

Marcus & Millichap is pleased to present Hollywood Park Villas, a beautifully renovated apartment community located in the Hollywood Park neighborhood of Sacramento, California. The 14-unit community consists of 1 studio/one-bathroom unit with 450 rentable square feet, 7 one-bedroom/one-bathroom units with on average 626 rentable square feet, and 6 two-bedroom/one-bathroom units averaging 728 rentable square feet.

The purchaser of Hollywood Park Villas will enjoy a property that has been 100 percent renovated inside and out. Unit upgrades include new flooring throughout, new cabinetry, light fixtures, counter tops, and appliances. Current ownership has completely revamped the outside landscaping and also added a large grass community garden area. Recently added double pane windows and a modern painting scheme provide the property with some of the strongest street appeal in the area. Although the property has on-site laundry (owned), individual hot water heaters in every unit provides the next savvy investor an opportunity to add value by adding in suite washers and dryers. Tenants are also drawn to the property because of it's ample off-street parking, a functional advantage that the property has over competitive sets. Residents will enjoy Hollywood Park's desirable location and close proximity to Sacramento's boutique shops and restaurants. Hollywood Park is located less than five miles away to Downtown Sacramento, which is by far the regions largest employment hub and home to Sacramento's most desirable entertainment districts.

The offering is a tremendous opportunity to own a 100 percent renovated, cashing flowing apartment asset in the heart of California's fastest growing city. Despite California's adoption of AB1482 in 2019 and the challenges that the COVID-19 Pandemic presents, Hollywood Park Villas remains a very attractive offering due to the recent capital improvements and stable management operation already in place by current ownership. AB 1482 is expected to exacerbate an already pronounced constraint of rental housing in Sacramento, and existing communities turn-key communities like Hollywood Park Villas will continue to enjoy healthy increases year over year.

All tours must be scheduled through the listing agent. Please do not disturb management or tenants.

Investment Highlights

  • 100 Percent Renovated Inside and Out
  • Short Five Mile Commute to Downtown Sacramento
  • Desirable Hollywood Park Location
  • Attractive Debt Options on Strong Cash Flowing Asset
  • Off-Street Parking for Every Unit - Parking Lot Recently Redone

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: $2,648,888

Cap Rate
5.14%
Number of Units
14
GRM
12.80
Occupancy
97.00%
Price/Unit
$189,206
Price/Gross SF
$287.92
Gross SF
9,200

Investment Highlights

  • 100 Percent Renovated Inside and Out
  • Short Five Mile Commute to Downtown Sacramento
  • Desirable Hollywood Park Location
  • Attractive Debt Options on Strong Cash Flowing Asset
  • Off-Street Parking for Every Unit - Parking Lot Recently Redone

Investment Overview

Marcus & Millichap is pleased to present Hollywood Park Villas, a beautifully renovated apartment community located in the Hollywood Park neighborhood of Sacramento, California. The 14-unit community consists of 1 studio/one-bathroom unit with 450 rentable square feet, 7 one-bedroom/one-bathroom units with on average 626 rentable square feet, and 6 two-bedroom/one-bathroom units averaging 728 rentable square feet.

The purchaser of Hollywood Park Villas will enjoy a property that has been 100 percent renovated inside and out. Unit upgrades include new flooring throughout, new cabinetry, light fixtures, counter tops, and appliances. Current ownership has completely revamped the outside landscaping and also added a large grass community garden area. Recently added double pane windows and a modern painting scheme provide the property with some of the strongest street appeal in the area. Although the property has on-site laundry (owned), individual hot water heaters in every unit provides the next savvy investor an opportunity to add value by adding in suite washers and dryers. Tenants are also drawn to the property because of it's ample off-street parking, a functional advantage that the property has over competitive sets. Residents will enjoy Hollywood Park's desirable location and close proximity to Sacramento's boutique shops and restaurants. Hollywood Park is located less than five miles away to Downtown Sacramento, which is by far the regions largest employment hub and home to Sacramento's most desirable entertainment districts.

The offering is a tremendous opportunity to own a 100 percent renovated, cashing flowing apartment asset in the heart of California's fastest growing city. Despite California's adoption of AB1482 in 2019 and the challenges that the COVID-19 Pandemic presents, Hollywood Park Villas remains a very attractive offering due to the recent capital improvements and stable management operation already in place by current ownership. AB 1482 is expected to exacerbate an already pronounced constraint of rental housing in Sacramento, and existing communities turn-key communities like Hollywood Park Villas will continue to enjoy healthy increases year over year.

All tours must be scheduled through the listing agent. Please do not disturb management or tenants.

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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