3620 Wintun Drive is a rare opportunity to purchase a well kept and remodeled six-unit multifamily property in the heart of Carmichael located just minutes away from the American River. The subject property is situated down a private road surrounded by a residential community. The apartment complex consists of three single story buildings, built in 1959 with a beautiful stucco exterior and new paint job. These three duplexes are tucked onto a .9 Acre lot with extra yard space on each side of the property which gives any future investor the opportunity for a potential development site in a great residential neighborhood. With the subject property sitting on such a spacious lot, the next owner will have the ability to split the lot to break off each duplex into separate parcels or the opportunity to develop on either side of the property. Development within the area is very limited and there is a need for more housing in that location.
The subject property was originally built in late 50’s / Early 60’s but underwent a major interior and exterior transformation. The unit mix consists of six 2-bedroom/1-bathroom apartment units that mirror each other in size and layout with about 650 square feet of living space. All of the units have modern/upgraded kitchens that have been remodeled with new cabinets, granite countertops, Lamton laminate flooring and updated bathrooms. A few new recent upgrades also include new doors throughout the property, new appliances, and new wall heat and air conditioning units.
Other amenities include a laundry room onsite, plenty of common area living space for tenants to enjoy, large unlined parking lot that easily fits twelve cars and very spacious back yards for four of the six units. The property has also been outfitted with new dual-paned windows that provide a finished look while helping to reduce the residents’ utility costs. The entire property has an open farm like concept with a lot of common area space for the tenants to enjoy. This is a turn-key complex suitable for an investor seeking a pride of ownership property in a great location.
Each unit is metered separately for gas and electricity which is paid by the resident, while the owner pays for sewer, water, garbage, and common area lighting costs. A portion of these costs could be billed to the residents through a Ratio Utility Billing System (RUBS) which is becoming more common in California. These charges are around $25-75 per unit in addition to the residents’ standard monthly rental payment depending on the amount of people in each unit.
