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Presented by: Marcus & Millichap Real EstatePowered by Highrises
For Sale

$6,390,000

4661 Orange Grove Ave, Sacramento, CA 95841

  • -Bed
  • -Bath
  • 31551SqFt
  • -Bed
  • -Bath
  • 31551SqFt
  • Property Type
    Condo
  • Year Built
    1963
  • Price per Sqft
    $203
  • On highrises
    0 Days

Property Details

Orange Grove Apartments for sale. The 46-unit property is located in Sacramento California and was originally constructed in 1963. The property has seen numerous upgrades over the last several years. The garden style apartment building features a diverse unit mix with 26 One Bedroom / One Bathroom units averaging 650 rentable square feet, and 20 Two Bedroom / One Bathroom units averaging 850 rentable square feet. The average rent on the rent roll today is $1, 395/mo. Assuming the remainder of the unrenovated units get upgraded and the next owner collapses all the embedded loss to lease, there's 9% upside in income pro forma. With most of the units being renovated by the current owner, the new purchaser will inherit a stable operation with continued operational upside in a submarket that isn't suited for any new construction competition. Most units have seen upgraded granite counter tops, LVP flooring, and new appliances. The large floorplans attract a resident profile that wants to stay longer than the initial lease term.

Property Features

Bathrooms

  • Total Bathrooms: 0
  • Presented by:
  • David M. Deloney
  • state license#02045150

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Learn more about 4661 Orange Grove Ave