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Plaza Estates 695 Plaza Ave 62 Unit Apartment Building For Sale Sacramento, CA 95815
Investment Highlights
- Value-Add Investment
- As-Is Acquisition with Pricing Advantage
- Ancillary Income Upside
- Strong Workforce Housing Fundamentals
- Quality Unit Mix
Executive Summary
The Cushman & Wakefield Sacramento Multifamily Advisory Group is pleased to present Plaza Estates Apartments, a value add 62 unit multifamily community located in Sacramento, CA.
Pricing is to be determined by market.
Plaza Estates is being offered in "As-Is" condition, providing buyers with the opportunity to acquire below replacement cost and implement business plan improvements on their own timeline and capital structure.
The community features a highly marketable unit mix consisting of 41 one bedroom/one bath units and 21 two bedroom/one bath units, which support broad renter appeal.
There is an opportunity for additional NOI growth through the repositioning and modernization of two on-site laundry rooms.
All property showings are by appointment only and must be arranged through Michael Mathios. Please do not approach or contact the tenants or on-site personnel.
For more information and a copy of the Offering Memorandum, please contact the listing agent.
Pricing is to be determined by market.
Plaza Estates is being offered in "As-Is" condition, providing buyers with the opportunity to acquire below replacement cost and implement business plan improvements on their own timeline and capital structure.
The community features a highly marketable unit mix consisting of 41 one bedroom/one bath units and 21 two bedroom/one bath units, which support broad renter appeal.
There is an opportunity for additional NOI growth through the repositioning and modernization of two on-site laundry rooms.
All property showings are by appointment only and must be arranged through Michael Mathios. Please do not approach or contact the tenants or on-site personnel.
For more information and a copy of the Offering Memorandum, please contact the listing agent.
Property Facts
| Sale Type | Investment | Lot Size | 1.06 AC |
| Sale Condition | REO Sale | Building Size | 37,444 SF |
| No. Units | 62 | Average Occupancy | 82% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1961 |
| Apartment Style | Low-Rise | Parking Ratio | 1.29/1,000 SF |
| Building Class | C | ||
| Zoning | R2B, Sacramento - Zone-Multi-Unit Dwelling Zone | ||
| Sale Type | Investment |
| Sale Condition | REO Sale |
| No. Units | 62 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.06 AC |
| Building Size | 37,444 SF |
| Average Occupancy | 82% |
| No. Stories | 2 |
| Year Built | 1961 |
| Parking Ratio | 1.29/1,000 SF |
| Zoning | R2B, Sacramento - Zone-Multi-Unit Dwelling Zone |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Tile Floors
- Granite Countertops
- Range
- Linen Closet
Site Amenities
- Controlled Access
- Property Manager on Site
- Tenant Controlled HVAC
- Gated
- Recycling
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 41 | - | 650 |
| 2+1 | 21 | - | 800 |
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Fairly walkable
50/100
Very drivable
80/100
Limited public transit
30/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 263-0203-022 | Improvements Assessment | $7,480,000 |
| Land Assessment | $620,000 | Total Assessment | $8,100,000 |
Property Taxes
Parcel Number
263-0203-022
Land Assessment
$620,000
Improvements Assessment
$7,480,000
Total Assessment
$8,100,000
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Plaza Estates | 695 Plaza Ave