The Phoenician 1501 Secret Ravine Pkwy 140 Unit Apartment Building For Sale Roseville, CA 95661

The property consists of 140 units of the original 302 condo development. The remaining 162 units are owned by individual owners and many are rented. The subject property has 130 units in 8 buildings in the Northwest portion of the property and although adjacent to the 9 buildings containing the condos under the HOA they are on separate parcels and not included in the HOA. Ten of the units for sale are within the remaining 9 buildings within the HOA control and have full access to the existing clubhouse and large pool. The 130 units have exclusive access to the smaller pool and hot tub but there is no separate office nor clubhouse. There is a lot, included in the sale, originally slated for 20 additional units (approximately 155’ by 85’) that might be used for construction of a clubhouse and office. This lot has a restriction requiring there to be 11 low-income units. Low income if sold individually but not necessary for renting. This could be accomplished by moving the low-income sale restriction to 11 of the units within the 130 units.
The Phoenician is located in one of the best areas in the region, with some of the top schools and best shopping around. In addition to having a local office parks with well-known employers such as Hewlett Packard, Roseville is just a short drive to downtown Sacramento, which has hundreds of thousands of jobs as the center of government of California. Further, the region has a burgeoning entertainment scene with the development of the new Golden 1 Sports arena. Residents also have fast access to the Sierra Nevada Mountains for skiing and hiking and a host of other outdoor activities. The Phoenician is at the center of all of this and gives residents unique access to a wide variety of entertainment and jobs that is unique to the region.