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Sundance Garden Apts 3831-3835 Annadale Ln 40 Unit Apartment Building $8,000,000 ($200,000/Unit) 5.02% Cap Rate Sacramento, CA 95821
Investment Highlights
- Extensively renovated with 33 upgraded interiors, refreshed landscaping, and full exterior repaint across two parcels
- Ample parking with 52 total spaces
- Clear value add upside through remaining unit renovations and a $184 average loss to lease
Executive Summary
Marcus & Millichap is pleased to present Sundance Garden, a well maintained 40 unit multifamily community situated across parcels and benefiting from extensive interior and exterior renovations. The property offers a diverse unit mix consisting of 2 studios, 10 one bedroom units, and 28 two bedroom units. 33 units have been upgraded with improvements such as LVT flooring, granite countertops, new cabinetry, and a mix of stainless steel/black appliances. Exterior improvements include refreshed landscaping designed for low maintenance operation and new exterior paint. The property also provides 52 surface parking spaces, including 40 assigned spaces, 11 unassigned spaces and one handicap. A new owner has the opportunity to complete the renovation program on the remaining seven units and capture additional rent upside. Current average in place rents trail conservative market rents with a loss to lease of approximately $184/Unit, supported by proven pro forma rents within the existing rent roll and nearby rent comps. Sundance Garden presents a stable asset with a light value add component and a straightforward path for improving income and operations. Property tours are available exclusively through the listing agents.
CONTACT LISTING AGENT FOR OFFERING MEMORANDUM.
CONTACT LISTING AGENT FOR OFFERING MEMORANDUM.
Property Facts
| Price | $8,000,000 | Apartment Style | Low-Rise |
| Price Per Unit | $200,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.38 AC |
| Cap Rate | 5.02% | Building Size | 44,306 SF |
| No. Units | 40 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1974 |
| Property Subtype | Apartment | Parking Ratio | 1.17/1,000 SF |
| Zoning | RD-30 | ||
| Price | $8,000,000 |
| Price Per Unit | $200,000 |
| Sale Type | Investment |
| Cap Rate | 5.02% |
| No. Units | 40 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.38 AC |
| Building Size | 44,306 SF |
| No. Stories | 2 |
| Year Built | 1974 |
| Parking Ratio | 1.17/1,000 SF |
| Zoning | RD-30 |
Amenities
Unit Amenities
- Heating
- Kitchen
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | - | 501 |
| 1+1 | 10 | - | 666 |
| 2+1 | 28 | - | 906 |
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Bike Score®
Very Bikeable (70)
Property Taxes
| Parcel Numbers | Improvements Assessment | $4,987,676 | |
| Land Assessment | $848,965 | Total Assessment | $5,836,641 |
Property Taxes
Parcel Numbers
Land Assessment
$848,965
Improvements Assessment
$4,987,676
Total Assessment
$5,836,641
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Sundance Garden Apts | 3831-3835 Annadale Ln
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