Marcus & Millichap is proud to present the exclusive listing of the
Villaggio portfolio. This offering consists of 33 of 72 condominiums on
individual parcels within the complex. All of the units are large
two-bedroom units with modern amenities including granite countertops,
stainless steel appliances, dual-pane windows, central heating and air
conditioning and backyards and/or front yards. Each unit also has an
in-suite stackable washer and dryer, as well as space for folding clothes.
The grounds of the property, as well as the pool and building exteriors
(including roofs), are maintained by the home owners association (HOA).
The HOA is responsible for all maintenance "from the studs out."
The property itself is located one-half mile off of Interstate-80 at the
Madison Avenue exit, just two blocks from American River College.
The nearby intersection of Madison Avenue and Auburn Boulevard
provides both employment and shopping opportunities at national
retailers, including Target and Walgreens, as well as major car dealerships
(Future Ford, Niello Acura), strip centers, restaurants, and office buildings.
Easy access to Interstate-80 translates to convenient commutes to employment hubs in Downtown Sacramento (West) and Roseville (East).
A survey of comparable units in the area strongly suggests upside in rents. The latest new lease was signed at $1300 per month, but the average on the rent roll is only $1,032. The units at Villaggio offer a superior living experience and amenity package to most of the neighboring properties. A new owner with a fresh set of eyes will recognize the possibility for rent growth on new leases and renewals alike. Industry research suggests the region will experience another eight-percent increase in rents market-wide over the next 12 months. Lastly, a savvy investor will recognize the value of a flexible exit strategy as individual condos were selling for more than $200,000 in 2007.
Please do not disturb management. All tours must be scheduled with listing agent.
