Marcus & Millichap is pleased to present Mayberry at Town & Country, a well-maintained 96-unit garden-style apartment community located in the Arden-Arcade submarket of Sacramento.
The property is situated within walking distance from the redeveloped retail center Town & Country Village at the intersection of Marconi Avenue and Fulton Avenue. The intersection offers patrons access to multiple retailers and grocery stores including Trader Joe's, McDonald's, Walmart Grocery, Bed Bath & Beyond, Starbucks, Jamba Juice, multiple banks, and a newly constructed CVS Pharmacy. The area has been transformed as local apartment residents clamor for quality rentals with a high walkability score to the jobs, shopping and restaurants nearby. Within a short driving distance, residents at Mayberry can access Sacramento's largest regional mall, Arden Fair, boasting over 1.1 million square feet of retail and restaurant space. A few miles further along Highways 80 and 160 residents arrive at a burgeoning Downtown/Midtown Sacramento, which is a major job hub and lays claim to one of the world's newest entertainment venues at the Golden 1 Center.
Since 2012, the property has undergone an exterior makeover including new double-pane windows throughout, new air conditioning units for every unit, new attic insulation, new landscaping, and new laundry machines to name a few. Select interiors have been upgraded to include faux wood vinyl plank flooring. Residents enjoy a beautiful interior courtyard setting, complete with picnic benches, barbecues, a spacious pool area, and a gazebo.
A survey of the competitive set of properties nearby suggests immediate rental upside at Mayberry. Industry reports are projecting continued rental demand and rent growth in the Arden-Arcade submarket; combined with record-low construction pipelines in the region, the new owner of Mayberry will be in a prime position to increase Net Operating Income. Most of the residents are on month-to-month leases, an added bonus to help achieve pro forma projections in short order.
All tours must be scheduled through listing agents. Please do not disturb management.
