Multifamily Property for Sale in Sacramento, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Sacramento, CA 95821

Description

Marcus & Millichap is pleased to present Sundance Garden, a well maintained 40 unit multifamily community situated across two parcels and benefiting from extensive interior and exterior renovations. The property offers a diverse unit mix consisting of 2 studios, 10 one bedroom units, and 28 two bedroom units. 33 units have been upgraded with improvements such as LVT flooring, granite countertops, new cabinetry, and stainless steel appliances. Exterior improvements include refreshed landscaping designed for low maintenance operation and new exterior paint. The property also provides 40 surface parking spaces, offering each resident an assigned stall. A new owner has the opportunity to complete the renovation program on the remaining seven units and capture additional rent upside. Current average in place rents trail conservative market rents by approximately $184/Unit, supported by proven pro forma rents within the existing rent roll. Sundance Garden presents a stable asset with a light value add component and a straightforward path for improving income and operations. Property tours are available exclusively through the listing agents. Investment Highlights: • Extensively renovated with 33 upgraded interiors, refreshed landscaping, and full exterior repaint across two parcels. • Clear value add upside through remaining unit renovations and a $150 average loss to lease. • 40 assigned parking stalls with a parking ratio of 1:1

Market Context

This multifamily in Sacramento, CA is listed for sale. It is offered at an approximate 5.0% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 68 days. Compare it against other multifamily listings for sale in Sacramento, CA — <a href="/search/sale/multifamily/california/sacramento">view the full market</a>.

As of Q3 2023, the Sacramento multifamily market showed a 3.8% vacancy rate. Source: Consensus Q3 2023 market report.

Tight vacancy keeps competition for quality space elevated.

Multifamily market FAQ

Is the Sacramento multifamily market tightening or softening?
Vacancy is around 3.8% (Q3 2023).

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