7509 Madison Ave
Citrus Heights, CA 95610
Bldg D Owner Financing! · Office Property For Sale

7509 Madison Ave Building D- This is a value add project that just needs a little working capital and some strong management to get this project up and making money. This portfolio consists of 8 Office condo’s totaling approximately 8023 Sqft. Also included in the portfolio sale is the entire common area on both floors for the lobbies common areas, and the bathrooms. The total square footage must be nearly 9,000 sqft. Common areas have not been measured yet. Approximately 600 sqft of the total of sqft of the building is on a long-term lease to 2 cell phone companies. There is no rent receivable on that small portion of the space. The intention when this building was built was for there to be individual owners for each of the office condo’s with an HOA controlling the common area. Since the building was build the entire building has been under the control of one owner so the common area was deeded to the current owner. In effect you are buying the entire building. The HOA Covers just about everything other than electricity. There are multiple electrical meters that should allow for some sub-billing. The building is about 20% occupied currently with no active leasing program in place. The current rents are $1785 a month with all current tenants on a month to month basis. The HOA Dues for the entire building are about $3198 a month. There are very few other expenses present other than the utility bills of around $900 a month. MOPre information on this to follow shortly. See attachments for the Preliminary title report that goes over all the APN numbers that come with the sale. We have tons of pictures that we can make available by request we are also compiling a information package that should be available shortly. The owner is willing to carry with $100,000 Down for 5 years at 5% interest only. Listing agent has some strategies to help get this building up and running and to help with the initial cash flow. Currently the entire bottom floor is vacant except one of the small cell phone utility spaces. The downstairs needs some work in several units to make them rent ready. All upstairs units are ready ready or can be made rent ready with minimal expense. Please check back because we will be updating this listing with additional information over the next few days.