2700-2714 29Th Ave, Sacramento, CA 95820
8 Unit Apartment Building | $1,395,000 ($174,375/Unit) | 5.95% Cap Rate | Sacramento, CA 95820
For Sale
Active
Asking Price $1,395,000
- Property Type
-
Multifamily
- Square Feet
- 7,000 SF
Listing Contacts
Tim Swanston
Phil McDaniel
Property Overview
2700 29th Ave is a multifamily property located in the Hollywood Park neighborhood of Sacramento, featuring (8) 2 bedroom, 1 bathroom houses on one parcel. 7 of the 8 units will be delivered occupied at sale, with the 8th unit being delivered fully gutted and ready for remodel. Each unit is individually metered for gas and electric, with the owner paying water/sewer/garbage. Each unit also includes a private backyard, as well as washer and dryer hookups. Half of the houses have new electric panels, new plumbing, and have been recently updated. The most recent vacancy was filled at $1795, setting a new precedent for future vacancies. The remaining current tenants are elegible for rental increases. There is also room to expand units on the property, including making several of the current units larger, and adding at least two ADU's. There is also potential to expand the backyards to make them larger.
Property Details
- Class
- C
- Year Built
- 1950
- Stories
- 1
- Lot Size (sq. ft)
- 40,075 SF
- Units
- 8
Highlights
- 8 Single family homes on one lot
- Room for growing rents, tenants elegible for rent increases.
- Private gated community
- Potential to add more units, and to expand current units
- Most recent vacancy filled at $1,795
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