3132 3rd AVE Active Save Request In-Person Tour Request Virtual Tour
Sacramento,CA 95817
Key Details
Property Type Multi-Family
Sub Type 5 or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 4,742 sqft
Price per Sqft $506
MLS Listing ID 225012972
HOA Y/N No
Originating Board MLS Metrolist
Year Built 1960
Lot Size 0.280 Acres
Acres 0.28
Property Sub-Type 5 or More Units
Property Description
3130 - 3132 3rd Ave in the Oak Park neighborhood is a sixteen-unit apartment community that features both one- and two-bedroom floorplans. The property is very well located, only minutes to downtown / midtown Sacramento, the region's economic and entertainment epicenter. As a part of the triangle district area of North Oak Park, residents are within walking distance to the regions preeminent medical care, UC Davis Medical Center and UC Davis Aggie Square Innovation Hub. The neighborhood also lies at the intersection of CA Hwy 99, US Hwy 50, and Interstate Business 80, allowing residents immediate access to all major throughways in the region. The property features off street alley parking, gated entry, and onsite laundry facilities. The offering represents a unique opportunity to purchase a cash flowing asset day one, but the next investor will have a clear-cut strategy to massively increase value through renovations and aggressive management. Competitive sets suggest that the September 2024 rent roll is approximately 20% below the market and the erosion of the loss to lease would push the capitalization rate to exceed 8%.
Location
State CA
County Sacramento
Area 10817
Direction From Alhambra Blvd, go south until you reach the intersection at Third ave. Turn left and property will be on your right.
Interior
Heating Wall Furnace
Cooling Wall Unit(s)
Flooring Vinyl,Linoleum
Laundry In Common Area
Exterior
Parking Features Off Street,Street
Utilities Available City
Water Access Desc Public
Total Parking Spaces 12
Building
Lot Description Sidewalk
Story 2
Foundation Raised
Sewer Private Sewer
Water Public
Schools
Elementary Schools Sacramento Unified
Middle Schools Sacramento Unified
High Schools Sacramento Unified
School District Sacramento
Others
Senior Community No
Tax ID 010-0366-004-0000
Special Listing Condition None