Montecito Apartments 6004 Rutland Dr 36 Unit Apartment Building $7,650,000 ($212,500/Unit) 6.02% Cap Rate Carmichael, CA 95608

The Montecito Apartments is a great opportunity for an investor to acquire an attractive, stable, well-run apartment community in the Sacramento suburban neighborhood of Carmichael. Upon arriving at Montecito investors and residents alike will take note of the strong curb appeal, complete with attractive landscaping and low density construction (19 units per acre). In fact, a major attraction for residents is that all of the one-bedroom units are single-story cottage style with private outdoor patios. The opportunity exists for the new owner to expand some of the patios to encompass more space and be more like backyards. In addition to a park-like ambiance,
residents are treated to a strong amenity offering including an on-site laundry facility, a small leasing office, a swimming pool and above average parking (54 spaces). The property is SB721 compliant.
Carmichael serves as a bedroom community with very close proximity to the region's employment, entertainment and cultural centers. The California Capitol in Downtown Sacramento is 15 miles west of the property. Access to Interstate 80 is 2 miles from the property, affording easy access to a variety of destinations.
Sacramento's new supply of housing is slowing dramatically to only a 1.1 percent gain in 2025, while employment and subsequent household formation is rising. Montecito is an excellent opportunity to step into an asset in great condition as a significant discount to replacement cost just at a time while interest rates are falling. Montecito is being advertised with strong positive leverage available in the marketplace meaning cash-on-cash yields are significantly higher than they have been in years.
Please do not disturb management or residents.
All site visits must be scheduled through listing agent.