5155 Arden Way
Carmichael, CA 95608
Arden Oaks Apartment · Multifamily Property For Sale · 36 Units

Arden Oaks Apartments is a classic two-story garden style community located in the southern portion of Carmichael. The property has proximity to a wide range of outdoor parks, trails, golf courses, and other retail and service-oriented businesses. The building was constructed in 1973 with stucco exterior over a wood frame with a flat roof. The owner replaced the roof in 2000 and added a more elaborate draining system to minimize issues that are common with this roofing type. Each unit has 100% electrical inside with central heat and air, an electric stove, refrigerator, dishwasher, and a garbage disposal. There is carpet in the living room and bedroom and linoleum flooring in the kitchen and bathroom. There is a ceiling fan in the dining room and large windows which provide residents with natural light. The complex has off-street parking, on-site coin operated laundry, a swimming pool, plus the manager’s office attached to a two-bedroom unit. A new owner will be able to reposition the complex with some minor or extensive updates to maximize the rental income at the property. Common renovations in the marketplace today include opening the kitchen and adding a bar top, installing wood laminate flooring, adding new cabinets and counter tops, and updating to stainless steel fixtures and appliances. These updates would allow for rental increases across the board. In addition to updating the interiors, one is suggested to implement a $50 per month RUBS (ratio utility billing system) to offset common area utilities. Furthermore, there are only two properties that directly compete with Arden Oaks – a market rate complex on the West and a senior community across the street. Outside of these two buildings, there is limited rental units near the subject property which attributes to its high occupancy rate. As the Sacramento region and Carmichael continue to grow, Arden Oaks will remain a strong infill location for long-term apartment renters who seek a quite community and access to work, retail, and outdoor amenities.