Multifamily

The Brentwood

Listing Price: $6,150,000

Cap Rate
4.13%
Number of Units
40
GRM
13.05
Occupancy
97.00%
Price/Unit
$153,750
Price/Gross SF
$249.04
Gross SF
24,695

Investment Overview

The Brentwood Apartments is a fantastic opportunity to invest in a recently remodeled multifamily asset in the desirable submarket of Carmichael, east of Sacramento, California. The property consists of 40 units, featuring 5 studios, 29 one-bedroom units and 6 two-bedroom units. The property is divided into two buildings situated on two separate parcels.

5914 Stanley Avenue is the westernmost building that is entirely single story; a recently upgraded laundry facility servicing the whole property is in the center of this building. On this building in the past 12 months current ownership has upgraded the electrical subpanels, replaced the main sewer line, installed new perimeter fencing, installed all new dual pane windows for the units and upgraded interiors on select units (see pages 16-17 for breakdown). Most lighting has been upgraded to LED and the entire exterior of the building has been recently painted. The roof is a pitched composition shingle.

5920 Stanley Avenue is the easternmost building that is two stories. Downstairs units feature large private patios and upstairs units enjoy a private balcony and vaulted ceilings. All of the units in this building were also upgraded with new dual pane windows and sliders. Select units were upgraded (see pages 16-17 for breakdown). A new TPO-style roof was installed in the past 12 months on this building.

Marcus & Millichap released a Summer 2020 Special Report on the health crisis accelerating the wave of suburbanization, potentially creating a structural shift in real estate demand. It is widely anticipated that submarkets like Carmichael will benefit disproportionately from the macroeconomic trends driving renters to the suburbs of secondary cities like Sacramento. The Brentwood is well-positioned for the next owner to invest at the front end of this accelerating trend. With physical structures in good condition and a clear-cut path to upgrade an additional 18 units on turnover, The Brentwood offers strong prospects for growth and income to the next owner.

Investment Highlights

  • Attractive Financing Available
  • Major Exterior Capital Improvements Completed in Past 12 Months
  • Desirable Carmichael Submarket Location
  • 22 of 40 Unit Interiors Recently Upgraded

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: $6,150,000

Cap Rate
4.13%
Number of Units
40
GRM
13.05
Occupancy
97.00%
Price/Unit
$153,750
Price/Gross SF
$249.04
Gross SF
24,695

Investment Highlights

  • Attractive Financing Available
  • Major Exterior Capital Improvements Completed in Past 12 Months
  • Desirable Carmichael Submarket Location
  • 22 of 40 Unit Interiors Recently Upgraded

Investment Overview

The Brentwood Apartments is a fantastic opportunity to invest in a recently remodeled multifamily asset in the desirable submarket of Carmichael, east of Sacramento, California. The property consists of 40 units, featuring 5 studios, 29 one-bedroom units and 6 two-bedroom units. The property is divided into two buildings situated on two separate parcels.

5914 Stanley Avenue is the westernmost building that is entirely single story; a recently upgraded laundry facility servicing the whole property is in the center of this building. On this building in the past 12 months current ownership has upgraded the electrical subpanels, replaced the main sewer line, installed new perimeter fencing, installed all new dual pane windows for the units and upgraded interiors on select units (see pages 16-17 for breakdown). Most lighting has been upgraded to LED and the entire exterior of the building has been recently painted. The roof is a pitched composition shingle.

5920 Stanley Avenue is the easternmost building that is two stories. Downstairs units feature large private patios and upstairs units enjoy a private balcony and vaulted ceilings. All of the units in this building were also upgraded with new dual pane windows and sliders. Select units were upgraded (see pages 16-17 for breakdown). A new TPO-style roof was installed in the past 12 months on this building.

Marcus & Millichap released a Summer 2020 Special Report on the health crisis accelerating the wave of suburbanization, potentially creating a structural shift in real estate demand. It is widely anticipated that submarkets like Carmichael will benefit disproportionately from the macroeconomic trends driving renters to the suburbs of secondary cities like Sacramento. The Brentwood is well-positioned for the next owner to invest at the front end of this accelerating trend. With physical structures in good condition and a clear-cut path to upgrade an additional 18 units on turnover, The Brentwood offers strong prospects for growth and income to the next owner.

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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