1507-1509 Eggplant Aly - 1507-1509 Eggplant Alley & 1508-1510 E Street 4 Unit Apartment Building Offered at $1,650,000 at a 5.95% Cap Rate in Sacramento, CA 95814
INVESTMENT HIGHLIGHTS
- Rare opportunity to purchase brand new construction
- (2) 1,050sf – 2bed/1.5bath Luxury Townhome Units (New Construction)
- 3 Car Garage
- $10,500/month income
- (2) 1,250sf - 3bed/1bath Units (Remodeled)
- Secured gated entrance
EXECUTIVE SUMMARY
We are pleased to present 1507-1509 Eggplant Alley & 1508-1510 E Street, two structures totaling +/-4,600 square foot in one of the most active areas of Midtown Sacramento. The subject property consists of two separate buildings. 1) 1507-1509 Eggplant Alley, a newly constructed duplex that consists of (2), 2bed/1.5 bath Luxury Townhomes with an attached 3 car garage. 2) 1508-1510 E Street, a two-story duplex with renovated interiors that consists of (2) 3bed/1 Bath Units. Property amenities include a 3 car garage that generates additional income and secured access with padlocks surrounding the exterior. The property brings in approximately $10,655 a month and represents a 5.95% cap rate on actuals.
The neighborhood is characterized by well-manicured landscapes & tree-lined streets. The location offers convenient access to amenities such as shopping centers, recreational facilities, healthcare services, diverse dining options, schools, and transportation.
Tenants are responsible for gas and electricity within their unit, while the owner pays water, sewer, and garbage. The owner has implemented a Ratio Utility Billing System (RUBS) to bill a portion of these charges to the residents. These charges are exactly $150 per unit in addition to the residents’ standard monthly rental payment and are including on the rent roll.
The neighborhood is characterized by well-manicured landscapes & tree-lined streets. The location offers convenient access to amenities such as shopping centers, recreational facilities, healthcare services, diverse dining options, schools, and transportation.
Tenants are responsible for gas and electricity within their unit, while the owner pays water, sewer, and garbage. The owner has implemented a Ratio Utility Billing System (RUBS) to bill a portion of these charges to the residents. These charges are exactly $150 per unit in addition to the residents’ standard monthly rental payment and are including on the rent roll.
PROPERTY FACTS
| Price | $1,650,000 |
| Price Per Unit | $412,500 |
| Sale Type | Investment |
| Cap Rate | 5.95% |
| Gross Rent Multiplier | 12.9 |
| No. Units | 4 |
| Property Type | Multifamily |
| Lot Size | 0.15 AC |
| Building Size | 4,580 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1890/2023 |
| Opportunity Zone |
Yes |
SITE AMENITIES
- Fenced Lot
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+1 | 2 | $2,625 | 1,240 |
| 2+1.5 | 2 | $2,703 | 1,050 |
1 of 1
Walk Score®
Walker's Paradise (94)
Bike Score®
Biker's Paradise (100)
ZONING
| Zoning Code | R-3A-SPD (Multi-Family Residential- Special Plan Development) |
