3309 1st Ave
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3309 1st Ave
8 Unit Apartment Building $1,299,999 ($162,500/Unit) 5.61% Cap Rate Sacramento, CA 95817
Investment Highlights
- Mile From UC Davis Medical Center & UC Davis Aggie Square Innovation Hub
- Quick Access to Major Freeways, Midtown, and Downtown
- Opportunity to Implement a RUBS Program
- Located in Triangle District Area of North Oak Park
- Pitched Comp Roof, Majority Dual Pane Windows, and Updated Electrical Panels
Executive Summary
Seller has exchange property in contract and is motivated to make a deal. Bring all reasonable offers.
Please go to the following website to get access to OM. Click the orange button where it says offering memorandum & Deal Room. If you don't have any account, you'll need to sign up. Once you sign a CA I will be notified and will approve request. https://www.marcusmillichap.com/properties/106350/3309-1st-ave
Marcus & Millichap is pleased to present 3309 1st Avenue in Sacramento, California. Constructed in 1950, this building is comprised of eight (8) spacious one-bedroom/one-bathroom units at approximately 491 square feet each. The gated property features a pitched shingle composition roof, stucco/wood siding, majority dual-pane windows, updated electrical panels, wall heat and air units, and on-site laundry facility. This property is located in the very popular Triangle District area of North Oak Park. The building is optimally located within walking distance to coffee shops, restaurants, McGeorge School of Law, UC Davis Medical Center, and Aggie Square Innovation Hub. In addition, the location offers immediate access to Midtown and Downtown Sacramento, Highway 50, Highway 99, and Business Loop 80.
3309 1st Ave is located within a mile from the under construction Aggie Square Innovation Hub which is a planned innovation district on UC Davis' Sacramento campus that will include research programs, private industry partners, classrooms, housing, a public-facing programs aimed to engage local communities and entrepreneurs. Additionally Downtown and Midtown Sacramento are experiencing unprecedented growth in both residential and commercial development. The immediate area is undergoing an immense revitalization with the new Railyards redevelopment project that will be anchored by Kaiser Hospital's new 400,000 square-foot, over $1-billion development, the Railyards will be a mixed-use hub for entertainment, retail, housing, office, theaters, parks, hotels, and museums. Given the affordability gap between homeownership and rents allows 3309 1st Ave to be well positioned for long-term appreciation and consistent cash flow.
DRIVE BY ONLY. ALL PROPERTY SHOWINGS ARE SUBJECT TO SELLER ACCEPTED OFFER ONLY. PLEASE CONSULT MARCUS & MILLICHAP LISTING AGENT FOR MORE DETAILS. PLEASE DO NOT DISTURB TENANTS.
Please go to the following website to get access to OM. Click the orange button where it says offering memorandum & Deal Room. If you don't have any account, you'll need to sign up. Once you sign a CA I will be notified and will approve request. https://www.marcusmillichap.com/properties/106350/3309-1st-ave
Marcus & Millichap is pleased to present 3309 1st Avenue in Sacramento, California. Constructed in 1950, this building is comprised of eight (8) spacious one-bedroom/one-bathroom units at approximately 491 square feet each. The gated property features a pitched shingle composition roof, stucco/wood siding, majority dual-pane windows, updated electrical panels, wall heat and air units, and on-site laundry facility. This property is located in the very popular Triangle District area of North Oak Park. The building is optimally located within walking distance to coffee shops, restaurants, McGeorge School of Law, UC Davis Medical Center, and Aggie Square Innovation Hub. In addition, the location offers immediate access to Midtown and Downtown Sacramento, Highway 50, Highway 99, and Business Loop 80.
3309 1st Ave is located within a mile from the under construction Aggie Square Innovation Hub which is a planned innovation district on UC Davis' Sacramento campus that will include research programs, private industry partners, classrooms, housing, a public-facing programs aimed to engage local communities and entrepreneurs. Additionally Downtown and Midtown Sacramento are experiencing unprecedented growth in both residential and commercial development. The immediate area is undergoing an immense revitalization with the new Railyards redevelopment project that will be anchored by Kaiser Hospital's new 400,000 square-foot, over $1-billion development, the Railyards will be a mixed-use hub for entertainment, retail, housing, office, theaters, parks, hotels, and museums. Given the affordability gap between homeownership and rents allows 3309 1st Ave to be well positioned for long-term appreciation and consistent cash flow.
DRIVE BY ONLY. ALL PROPERTY SHOWINGS ARE SUBJECT TO SELLER ACCEPTED OFFER ONLY. PLEASE CONSULT MARCUS & MILLICHAP LISTING AGENT FOR MORE DETAILS. PLEASE DO NOT DISTURB TENANTS.
Property Facts
| Price | $1,299,999 | Apartment Style | Low Rise |
| Price Per Unit | $162,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 5.61% | Building Size | 3,928 SF |
| Sale Conditions | 1031 Exchange | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1950 |
| Property Subtype | Apartment |
| Price | $1,299,999 |
| Price Per Unit | $162,500 |
| Sale Type | Investment |
| Cap Rate | 5.61% |
| Sale Conditions | 1031 Exchange |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 3,928 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1950 |
Unit Amenities
- Air Conditioning
- Heating
Site Amenities
- Laundry Facilities
- Gated
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | 491 |
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Walk Score ®
Very Walkable (89)
Bike Score ®
Biker's Paradise (99)
PROPERTY TAXES
| Parcel Number | 010-0311-018 | Improvements Assessment | $522,790 |
| Land Assessment | $72,103 | Total Assessment | $594,893 |
PROPERTY TAXES
Parcel Number
010-0311-018
Land Assessment
$72,103
Improvements Assessment
$522,790
Total Assessment
$594,893
zoning
| Zoning Code | R2B, Sacramento |
| R2B, Sacramento |
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Luis Mejia -
Edgar Lepe -
Marcus & Millichap Real Estate Investment Services
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3309 1st Ave
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