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
Appliances
- Apartment
- Apartment
- Laundry Features: Washer/Dryer Leased
Heating and Cooling
- Cooling Features: Window Unit(s)
- Heating Features: Wall Furnace
Interior Features
- Flooring: Vinyl, Varies by Unit
Land Info
- Lot Dimensions Source: Acres
- Lot Size Acres: 1.43
- Lot Size Source: Assessor Auto-Fill
- Lot Size Square Feet: 62291
Garage and Parking
- Parking Features: Open
- Parking Total: 46
Rental Info
- Existing Lease Type: Net
- Income Includes: Rent Only, Laundry
Homeowners Association
- Association: No
- Calculated Total Monthly Association Fees: 0
Multi-Unit Info
- Number of Buildings: 3
- Number of Units: 46
- Bedrooms in Unit-1: 1
- Bedrooms in Unit-2: 2
- Full Bathrooms in Unit-1: 1
- Full Bathrooms in Unit-2: 1
- Unit-1 Square Feet: 650
- Unit 1 Total Actual Rent: 1400
- Unit 2 Total Actual Rent: 1575
School Information
- Elementary School District: San Juan Unified
- High School District: San Juan Unified
- Middle or Junior School District: San Juan Unified
Other Property Info
- City Region: Sacramento
- Source Listing Status: Active
- County: Sacramento
- Cross Street: Pasadena Ave
- Cap Rate: 5.76
- Directions: From Auburn Blvd, turn east onto Orange Grove Ave. Property is on the north side of street.
- Disclaimer: All data, photos, visualizations, and information regarding a property, including the property’s compliance with state and local legal requirements and all measurements and calculations of area, have been obtained from various sources, and may include such material that has been generated by use of artificial intelligence. Such information and material have not been and will not be verified for accuracy by the listing broker or the multiple listing service, and are not guaranteed as complete, ac
- Source Property Type: Residential Income
- Area: 10841
- Source Neighborhood: 10841
- Parcel Number: 240-0062-051-0000
- Zoning: Residential
- Property Subtype: 5 or More Units
- Source System Name: C2C
Farm Info
- Irrigation Source: Meter on Site
Building and Construction
- Total Square Feet Living: 31551
- Year Built: 1963
- Construction Materials: Stucco, Wood
- Foundation Details: Slab
- Living Area Source: Assessor Auto-Fill
- Property Age: 62
- Building Total Stories: 2
- Structure Type: Apartments, Garden Apartments
Utilities
- Sewer: Public Sewer
- City
- Water Source: Public
Home Features
- Security Features: Varies By Unit
