Marcus and Millichap is pleased to present River Park Commons. Recently constructed in 2016, this property presents a rare opportunity for an investor to acquire new multi family construction in one of Sacramento's most desirable neighborhoods. New construction of this size and caliber is seldom seen in the Sacramento region due to the rapid rise in building costs. The lack of new multifamily product coupled with torrid rent growth throughout the region has resulted in these few properties achieving rents substantially higher than dated complexes.
River Park Commons features top end amenities with the latest in functionality and modern design. The property is comprised of three distinct spacious floorplans including: three 1-bed/1-bath flats, three 2-bed/one-bath flats, and nine large 2-bed/2.5-bath townhouse style units. All units have been completed with a modern design and are equipped with stainless steel appliances, custom cabinetry, and granite counter tops. Additionally, each unit has washer/dryer included and the townhouse floorplans feature on-suite bathrooms in each bedroom.
Located in East Sacramento, the property benefits from a multitude of education, retail, and employment opportunities. Sacramento State university is less than .5 miles from the property putting potential student tenants in immediate walking distance. Founded in 1947 as Sacramento State is the eleventh oldest school in the 23-campus California State University system and enrolls approximately 32,000 students annually. Downtown & Midtown Sacramento are only minutes away providing access to major employment centers such as Mercy General Hospital, Sutter General Hospital, CalPERS, UC Davis Med Center, and many other prominent regional employers within only a few miles.
*Cap Rate is pro-forma
