1730 Jefferson Street
West Sacramento, CA 95691 ·
10 Units · Multifamily For Sale
Jefferson Street Apartments
|No. Units||10||Cap Rate||10%|
|Building Size||5,000 SF||Gross Rent Multiplier||5.26|
|Property Sub-type||Garden/Low-Rise||Lot Size||0.24 AC|
|Property Use Type||Investment||APN / Parcel ID||058-104-024-0000|
|Listing ID: 17276173||Date Created: 08/03/2011||Last Updated: 11/06/2011|
The property is a stucco over wood frame 10 unit apartment building consisting of a single building with 5 units on the lower level and 5 units on the upper level. All 10 units are one bedroom/one bath units with approximately 500 square feet each. Each unit is individually metered for electricity and gas and have a wall furnace and wall air conditioner. The owner pays for the trash and water. The property has a pitched composition roof that was replaced in 2008 and open parking behind the building. The building is situated on a very low maintenance quarter acre lot. The building has a large block wall in front to buffer noise from Jefferson Blvd. and provide privacy for the tenants.
Opportunity: The building needs some fixing up, updating and some very attentive management. The property has experienced significant vacancy this year and several of the units are not in rent ready condition. Three of the units have new tile floors and new paint and one unit is in above average condition but six units need work to be returned to rent ready condition.The current owner lives out of state and wants to sale the property in its current condition.
The property is located in a desirable area of West Sacramento south of Interstate 80 in an established neighborhood of mostly single family homes. The property is close to the freeway, shopping, including several new centers, the Port of Sacramento, Raley Field and it is about a 10 minute commute to Old Town Sacramento and Downtown Sacramento. The development of Raley Field and the development of the adjacent properties combined with the desirable location have clearly set in motion a positive long term future for West Sacramento which is in Yolo County.
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