$1,875,000
$1,900,000
1.3%For more information regarding the value of a property, please contact us for a free consultation.
0.27 Acres Lot
SOLD DATE : 09/09/2021
Key Details
Sold Price $1,875,000
Property Type Multi-Family
Sub Type 5 or More Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 221062992
Sold Date 09/09/21
HOA Y/N No
Originating Board MLS Metrolist
Year Built 1959
Lot Size 0.270 Acres
Acres 0.27
Property Description
613-617 Maple Street in West Sacramento, California are two single story buildings each comprising of eight (8) one-bedroom/one- bathroom units at approximately 410 square feet. The buildings were built in 1959 and feature pitched composite shingle roofs, stucco exteriors, and dual pane windows. In the last five to seven years, 93% of interiors were upgraded, exterior upgrades included new paint, and dual pane windows. Units feature tile flooring throughout, granite countertops, upgraded kitchen cabinets, baths, and wall heat & air. Currently, the rents are well below market however with a modest six percent rent increase in year one would increase the Cap Rate to 6.32% and Cash- on-Cash to 7.72%. This is a stable asset with low maintenance interior features that is well located in path of new development near Downtown/Midtown Sacramento. A new investor has the opportunity to purchase an asset with rental upside potential in year one within a supply constraint market.
Location
State CA
County Yolo
Area 10691
Direction Go west on W Capitol Ave and make a right on Maple St.
Interior
Heating Wall Furnace
Cooling Wall Unit(s)
Flooring Tile
Window Features Dual Pane Full
Laundry Washer/Dryer Leased
Exterior
Exterior Feature Fenced Yard, Yard Space, Play Area
Garage Off Street
Utilities Available Natural Gas Connected, Cable Available, Internet Available
Water Access Desc Water District
Roof Type Shingle
Total Parking Spaces 16
Building
Lot Description Other
Story 1
Foundation Concrete, Slab
Sewer Public Sewer
Water Water District
Schools
Elementary Schools Washington Unified
Middle Schools Washington Unified
High Schools Washington Unified
School District Yolo
Others
Senior Community No
Tax ID 008-132-035-000
Special Listing Condition None
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