The Harlow by Trion Living 3220 Watt Ave 84 Unit Apartment Building $13,900,000 ($165,476/Unit) 6.32% Cap Rate Sacramento, CA 95821

Located at 3220 Watt Ave in Sacramento, CA, The Harlow is an 84-unit garden-style community and a premier example of a vintage 1964 property successfully repositioned for the modern renter. The asset features a desirable mix of studio, one-, and two-bedroom floor plans. Two-bedroom units are significantly larger than the submarket average. Residents enjoy a comprehensive amenity package including a sparkling swimming pool, a newly designed playground, a clubhouse, and lushly landscaped courtyards.
The property has undergone extensive renovations that have seamlessly blended its mid-century charm with contemporary upgrades. Interior modernizations include the installation of in-unit washers and dryers, energy-efficient appliances, and updated cabinetry and flooring. The building systems and exterior have also been addressed, providing a gated and secure environment with on-site management and maintenance. While the majority of the units have been upgraded to meet current market standards, there remains a clear path for a new investor to capture additional value by refining operational efficiencies and finalizing premium interior enhancements across the remaining classic units to bridge the gap toward peak market rents.
The location in the Arden-Arcade neighborhood offers residents unparalleled convenience and connectivity. Situated directly on the Watt Avenue corridor, the property provides immediate access to major retail hubs, including Country Club Plaza and several neighborhood shopping centers featuring diverse dining and essential services. The community is also located just minutes from unique cultural and educational attractions such as the Discovery Museum Science and Space Center. For those seeking outdoor activities, the American River Parkway and its extensive trail network are a short drive away, providing a natural escape within a dense suburban environment. Transit and regional access are significant drivers of demand for this location.
The Harlow is positioned near the I-80 and Business 80 interchange, offering a seamless commute to downtown Sacramento, Roseville, and the greater metropolitan area. The property is also within a ten-minute drive of American River College and approximately 15 minutes from Sacramento State, capturing a consistent pool of students and education professionals. Sacramento remains a resilient market with high demand for well-maintained workforce housing, and the supply-constrained nature of the Arden-Arcade submarket ensures long-term stability and continued rent appreciation for this renovated asset.