2720 Forrest St 6 Unit Apartment Building $849,000 ($141,500/Unit) 6.35% Cap Rate Sacramento, CA 95815

We are pleased to present 2720 Forrest Street, a 6-unit multifamily community centrally located in North Sacramento. This subject property sits on 0.47 acres with 3,150 rentable square feet. In the rear of this single-story complex there is a large vacant lot which could be ideal to take advantage of California Senate Bill 1211 which is a law that expands the ability to build additional ADU’s on multifamily properties. The subject property allows for an additional six detached ADU’s on site without any further parking requirements.
There are six-1bedroom units which have each been remodeled by the current owner. Upgrades include granite kitchen countertops, new bathroom vanities, tile in the kitchen and dining area, with carpet in the living room and bedroom. Ceiling fans have been included in the bedroom and each unit has a walk-in closet. All stoves are gas with other appliances being electric and wall/heat air systems in the living area. Tenants are responsible for utilities within their living space; however, a new owner should consider implementing a Ratio Utility Billing System (RUBS). This would bill a portion of the common area charges (sewer, water, garbage, heating of master water heater) to the residents which is more common now in California with charges ranging between $25-75 per unit on top of the monthly rent.
2720 Forrest Street is in a strong infill location of Sacramento. North Sacramento is one of the original suburban areas outside of Downtown Sacramento. For this reason, it is an area rich with culture and community. There are a wide range of eateries, boutique shops, and community parks to enjoy. Also, as residents crave more entertainment and shopping, they can easily reach Downtown-Midtown and Arden-Arcade which provide an abundance of actives. Within a short distance residents can reach Arden Fair Shopping Mall, Cal Expo, Golden 1 Center, plus the wealth of other services and enrichment that makes Sacramento appealing to locals and residents migrating to this community.
As the ongoing population growth and job creation continue there is a high demand for workforce housing in Sacramento. Most of the new properties being constructed are large apartment complexes with rents that are unaffordable for many of the residents in the region. So small infill communities such as 2720 Forrest Street benefit from affordability for those residents that service much of the region’s lifestyle needs.