Marcus & Millichap is pleased to present Lone Pine Apartments, a well maintained 24-unit apartment community located in Sacramento, California. The community features a mix of 22 two-bedroom/one-bathroom units with 800 rentable square feet and two one-bedroom/one-bathroom units with 650 rentable square feet.
The purchaser of Lone Pine Apartments will enjoy upgraded interior units, spacious fourplex style units, and an opportunity to bring rents up to market in one of the country's hottest and growing rental markets. Industry research suggests the region will experience another eight percent increase in rents market-wide over the next 12 months due to employment growth and a lack of new apartment construction throughout the region. The more than $500 gap between the average rent and a monthly mortgage payment bodes well for the multifamily sector going into 2018.
The property is conveniently located near the Watt Avenue access to Interstate 80, the major east-west transportation corridor for the greater Sacramento region. A few miles west of the property on Interstate 80, residents arrive at a thriving Downtown/Midtown Sacramento, which is a major employment hub and is home to one of the world’s newest entertainment venues at the Golden 1 Center. The property is also within a short driving distance to Arden Fair Mall, one of the regions largest shopping malls.
All tours must be scheduled through listing agent. Please do not disturb management.
