Multifamily

Ugarte Park

Listing Price: $2,065,000

Cap Rate
5.68%
Number of Units
10
GRM
12.04
Occupancy
97.00%
Price/Unit
$206,500
Price/Gross SF
$228.18
Gross SF
9,050

Investment Overview

Ugarte Park Apartments is a unique asset with a desirable unit mix that straddles two affluent suburbs, "The Pocket - Greenhaven" and the "South Land Park" neighborhood. The property consists of four One-Bed/One-Bath units with 650 rentable square feet, five Two-Bed/One-Bath units with floor plans that span from 950 to 1,200 rentable square feet, and a single Three-Bed/One-Bath unit with 1,200 rentable square feet.

Exceptionally large floor plans make the offering a relative bargain per square foot compared to other investment opportunities, attracting a value-minded investor focused on attracting and retaining long-term residents. A rare swimming pool on a smaller property adds to the appeal, as does gated parking access, storage lockers, on-site laundry, in-unit laundry for select units, and enclosed yards for select units. Every unit has seen a recent upgrade that includes granite counter tops, new vinyl plank flooring, new cabinet fronts, and select units have stainless steel appliances. The rental competition nearby strongly suggests continued revenue growth, especially for units with such massive floor plans.

Residents benefit from a 10-minute commute to Downtown Sacramento and the California State Capitol, considerably shorter drive times than commuters from Citrus Heights, Roseville, or Folsom. The Pocket boasts favorable demographics to an investor seeking quality real estate in a quality location; the average household income in the sub-market is $96,727/year, nearly 30 percent higher than the City of Sacramento as a whole. The median home price is $442,500, resulting in an affordability gap of $1,169. Geographic constraints to the west make The Pocket and Ugarte Park a highly sought-after investment sub-market.

All tours must be conducted with listing agents present. Please do not disturb management

Investment Highlights

  • Average Unit Size of 905 Square Feet
  • Every Unit Recently Renovated
  • 10-Minute Drive to California's State Capitol Building
  • Swimming Pool
  • Gated Entry with Off-Street Parking
  • On-Site Laundry Facility

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: $2,065,000

Cap Rate
5.68%
Number of Units
10
GRM
12.04
Occupancy
97.00%
Price/Unit
$206,500
Price/Gross SF
$228.18
Gross SF
9,050

Investment Highlights

  • Average Unit Size of 905 Square Feet
  • Every Unit Recently Renovated
  • 10-Minute Drive to California's State Capitol Building
  • Swimming Pool
  • Gated Entry with Off-Street Parking
  • On-Site Laundry Facility

Investment Overview

Ugarte Park Apartments is a unique asset with a desirable unit mix that straddles two affluent suburbs, "The Pocket - Greenhaven" and the "South Land Park" neighborhood. The property consists of four One-Bed/One-Bath units with 650 rentable square feet, five Two-Bed/One-Bath units with floor plans that span from 950 to 1,200 rentable square feet, and a single Three-Bed/One-Bath unit with 1,200 rentable square feet.

Exceptionally large floor plans make the offering a relative bargain per square foot compared to other investment opportunities, attracting a value-minded investor focused on attracting and retaining long-term residents. A rare swimming pool on a smaller property adds to the appeal, as does gated parking access, storage lockers, on-site laundry, in-unit laundry for select units, and enclosed yards for select units. Every unit has seen a recent upgrade that includes granite counter tops, new vinyl plank flooring, new cabinet fronts, and select units have stainless steel appliances. The rental competition nearby strongly suggests continued revenue growth, especially for units with such massive floor plans.

Residents benefit from a 10-minute commute to Downtown Sacramento and the California State Capitol, considerably shorter drive times than commuters from Citrus Heights, Roseville, or Folsom. The Pocket boasts favorable demographics to an investor seeking quality real estate in a quality location; the average household income in the sub-market is $96,727/year, nearly 30 percent higher than the City of Sacramento as a whole. The median home price is $442,500, resulting in an affordability gap of $1,169. Geographic constraints to the west make The Pocket and Ugarte Park a highly sought-after investment sub-market.

All tours must be conducted with listing agents present. Please do not disturb management

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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