Marcus & Millichap is pleased to present Young Street Apartments, a return driven nine-unit apartment community located in Sacramento, California. The community features (1) studio/one-bathroom unit with 325 rentable square feet, (5) one-bedroom/one-bathroom units with 575 square feet, and (3) two-bedroom/one-bathroom units with 725 square feet.
The purchaser of Young Street Apartments will continue on current ownership's renovation model to achieve optimal market rents. Seven of the nine units have been renovated in addition to the whole building receiving all new double pane windows and the building recently being painted. The next owner of Young Street Apartments will realize a clear path to success by finishing the already proven renovation model and continuing to manage the property more aggressively in a market that has led the country in rent growth for the past five years. Further, the community is adjacent to the vibrant Little Saigon sub market of Sacramento, providing residents with many employment opportunities within the areas famous boutique shops as well as major retailers. Residents will also enjoy close proximity to CA-Highway 99, which provides quick access to Sacramento's booming Midtown/Downtown and access to the regions other major freeways.
Industry research suggests the region will experience 5 eight-percent increases in rents market-side over the next 12 months due to employment growth and a lack of new apartments construction throughout the region. The more than $500 gap between the average rent and monthly mortgage payment bodes well for the multifamily section 2019 and beyond.
All tours must be scheduled through the listing agent. Please do not disturb management.
