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6004 Martin Luther King Jr Blvd

12 Unit Apartment Building $1,549,000 ($129,083/Unit) 7.01% Cap Rate Sacramento, CA 95824

Investment Highlights

  • Three four unit buildings on premesis
  • Current cap rate: 7.01; Pro-forma cap rate: 7.22
  • Opportunity to institute RUBS Program

Executive Summary

ACRE proudly presents 6004 Martin Luther King Drive, a 12-unit multifamily property located in
Sacramento’s Parkway-South Sacramento neighborhood. Built in 1950, this property sits on a 15,975-
square-foot lot and features three four-unit buildings with a total of 4,297 square feet of rentable space.
The unit mix consists of 10 studios and 2 one-bedroom units, providing a diverse tenant base. Offered at
$1,549,000, this investment boasts a current cap rate of 7.01 with potential to increase to 7.22 by achieving
area market rents. Additionally, the property presents an opportunity to implement a RUBS program to
enhance cash flow and further increase returns by reducing operating expenses. The current GRM is 8.19,
with a pro-forma GRM of 7.82. With strong financials and potential for increased returns, 6004 Martin
Luther King Drive offers an attractive investment in a high-demand rental market.
Contact listing agent Ike Ekeh at 415.290.2713 for more details.

Data Room Click Here to Access

Property Facts Under Contract

Price $1,549,000
Price Per Unit $129,083
Sale Type Investment
Cap Rate 7.01%
Gross Rent Multiplier 8.19
No. Units 12
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.37 AC
Building Size 5,400 SF
No. Stories 2
Year Built/Renovated 1950/2013
Parking Ratio 2.22/1,000 SF
Opportunity Zone Yes

Unit Amenities

  • Air Conditioning
  • Stainless Steel Appliances
  • Vinyl Flooring
  • Window Coverings

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
Studios 10 - 358
1+1 2 - 358

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
037-0011-011
Land Assessment
$200,792
Improvements Assessment
$591,223
Total Assessment
$792,015

zoning

Zoning Code RD20, County
RD20, County
  • Listing ID: 33679184

  • Date on Market: 10/29/2024

  • Last Updated:

  • Address: 6004 Martin Luther King Jr Blvd, Sacramento, CA 95824

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