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2615 H St
Sacramento, CA 95816
The Palms Apartments · Multifamily Property For Sale
·
13 Units
PROPERTY FACTS
| No. Units | 13 | Building Size | 7,700 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1954 |
| Building Class | C | Parking Ratio | 0.56/1,000 SF |
| Lot Size | 0.15 AC | ||
| Zoning | R3A B, Sacramento | ||
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 7,700 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1954 |
| Parking Ratio | 0.56/1,000 SF |
| Zoning | R3A B, Sacramento |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Storage Space
- Washer/Dryer
ABOUT 2615 H ST , SACRAMENTO, CA 95816
The Palms is a classically styled, well maintained mid-century modern two-story mid-rise project comprised of twelve 1-bedroom and 1-bathroom apartment units, and one 2-bedroom and 1-bathroom unit. These features are complimented by detailed landscaping, community washer/dryers, small storage lockers and 5 garage-secured parking spaces. The Property is being offered for sale for $2,980,000 representing a 4.45% Capitalization Rate on actual Net operating Income inclusive of pro-forma income from two current units under renovation and property taxes. The asset is cash flowing positively and there an is additional income opportunity for the next investor to realize in the below-market rents, as well as parking-collection and utility reimbursements, increasing the total NOI by $39,180 annually and the capitalization rate to 6.12% within the first year. The Subject Property is located within easy walking distance to over 20 of Sacramento’s finest midtown eateries and café’s and a wide variety of coffee shops and watering holes.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 12 | $1,145 | 550 |
| 2+1 | 1 | $1,530 | 1,000 |
PROPERTY TAXES
| Parcel Number | 003-0196-019 | Improvements Assessment | $2,663,026 |
| Land Assessment | $492,139 | Total Assessment | $3,155,165 |
PROPERTY TAXES
