Description
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 Type
ResidentialIncomeCounty
SacramentoStyle
ResidentialIncomeAD ID
49208356
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BuyOwner last updated this listing 04/05/2025 @ 21:32
- MLS: 225040827
- LISTING PROVIDED COURTESY OF: ,
- SOURCE: MLS Metrolist
is a Home, with bedrooms which is for sale, it has 31,551 sqft, 31,551 sized lot, and 0 parking. are nearby neighborhoods.