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L Street Apartments | Sanger, CA 922 L St 6 Unit Apartment Building $950,000 ($158,333/Unit) 7.37% Cap Rate Sanger, CA 93657
Investment Highlights
- Limited expense risk
- Desirable property layout
- Recent improvements throughout units
Executive Summary
?LIMITED EXPENSE RISK - Tenants pay for 100% of their utilities — sewer, water, and trash included — an uncommon arrangement that shields ownership from expense creep and keeps the operating expense load exceptionally low.
?RECENT IMPROVEMENTS - Ownership has recently completed extensive updates, including but not limited to: brand-new AC mini-splits, updated interiors with new fixtures and finishes, new electrical panels, and new appliances. As a result, a buyer's exposure to near-term capital expenditures has been significantly reduced.
?DESIREABLE PROPERTY LAYOUT - Each unit is its own standalone building, with space between neighboring units. Tenants find this layout desirable — it offers more privacy and less noise with no shared walls — which supports premium rents.
?RECENT IMPROVEMENTS - Ownership has recently completed extensive updates, including but not limited to: brand-new AC mini-splits, updated interiors with new fixtures and finishes, new electrical panels, and new appliances. As a result, a buyer's exposure to near-term capital expenditures has been significantly reduced.
?DESIREABLE PROPERTY LAYOUT - Each unit is its own standalone building, with space between neighboring units. Tenants find this layout desirable — it offers more privacy and less noise with no shared walls — which supports premium rents.
Property Facts
| Price | $950,000 | Apartment Style | Garden |
| Price Per Unit | $158,333 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.43 AC |
| Cap Rate | 7.37% | Building Size | 4,140 SF |
| Gross Rent Multiplier | 9.31 | No. Stories | 1 |
| No. Units | 6 | Year Built/Renovated | 1959/2026 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | R3 | ||
| Price | $950,000 |
| Price Per Unit | $158,333 |
| Sale Type | Investment |
| Cap Rate | 7.37% |
| Gross Rent Multiplier | 9.31 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.43 AC |
| Building Size | 4,140 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1959/2026 |
| Opportunity Zone |
Yes |
| Zoning | R3 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | $1,450 | 690 - 730 |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Minimal public transit
10/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 320-172-07 | Improvements Assessment | $72,741 |
| Land Assessment | $24,221 | Total Assessment | $96,962 |
Property Taxes
Parcel Number
320-172-07
Land Assessment
$24,221
Improvements Assessment
$72,741
Total Assessment
$96,962
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L Street Apartments | Sanger, CA | 922 L St
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