Sacramento, CA 95823 ·
130 Units · Multifamily For Sale
The Regency: Offers due Tuesday, 10/29
|No. Units||130||Commission Split||1.75%|
|Building Size||101,030 SF||Gross Rent Multiplier||4.40|
|Property Type||Multifamily||Lot Size||5.40 AC|
|Property Sub-type||Garden/Low-Rise||APN / Parcel ID||039-0201-007-0000|
|Property Use Type||Investment|
|Listing ID: 17603391||Date Created: 04/04/2012||Last Updated: 11/04/2013|
The Regency represents an excellent opportunity to purchase an asset at $37,692 per unit . With occupancy hovering between 75 and 80%, the property represents an excellent repositioning opportunity. The mix is as follows:
- 40 1x1s
- 55 2x1s
- 14 2x1.5 townhomes
- 20 3x2s
- 1 3x1
With sub-market occupancy at 95% and rising rents, there is significant demand for rental product in this market.
The property features central heat and air, large, well-designed unit layouts with an average square footage of 777, a swimming pool, two laundry rooms, and is fully gated. The property last sold in 2004 for $8,500,000
Upon stabilization, ARA forecasts $1M in gross potential revenue and $450k in NOI.
The Regency is located next to Florin Towne Center, Little Saigon Plaza, Pacific Rim Plaza, and Pacific Plaza, collectively making up over 1M sq ft of retail space within walking distance of the property:
- Walking distance to Florin Towne Center, built in 2009 with 484,500 sq ft of retail anchored by Sears, Wal-Mart Super Center, and 24 Hour Fitness
- Next to Little Saigon Plaza - 174,922 sq ft of new mixed-use development (80k built)
- Walking distance to Pacific Rim Plaza - 41,247 sq ft center built in 2003
- Walking distance to Pacific Plaza - 140,000 sq ft center built in 2000
********Offers due Tuesday, October 29, 2013********
PLEASE DO NOT VISIT THE PROPERTY WITHOUT AN APPOINTMENT!
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