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Coyle Creek Commons 7061 Madison Ave

48 Unit Apartment Building $10,850,000 ($226,042/Unit) 5.15% Cap Rate Fair Oaks, CA 95628

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INVESTMENT HIGHLIGHTS

All units are 2BD 2BA design
96% of units have been upgraded to include in-suite laundry

Windows are all double pane

EXECUTIVE SUMMARY

The DeLoney Group is pleased to offer for sale Coyle Creek Commons Apartments in Fair Oaks, California, a suburb east of Sacramento, known as a desirable bedroom community with highly rated schools. This 48-unit property was constructed in 1976 with forward thinking design elements for the era including lightweight concrete between floors, large two-bedroom units with a full second bath, individual hot water heaters and central HVAC. The property has seen many upgrades, especially since the mid 2000s. 46 of the 48 units now include in-suite laundry. Some units include granite countertops and crown molding; a limited number even include skylights in the kitchen area. All units have been retrofitted to include double pane windows and all balconies were replaced in the past 8 years.
The average rent in place today at Coyle Creek is $1806/mo. In the past rents over $2000/mo have been achieved. Most recent leases have signed at $1949, representing a 7.4% loss-to-lease over current average. The savvy investor will recognize the high-quality bones of this property, with modern functionality and an extraordinarily desirable unit mix that not only achieves higher rents than many competitors but tends to increase duration of stays for the residents.
Do not disturb management. All tours must be coordinated with Tony DeLoney.

PROPERTY FACTS Under Contract

Price	$10,850,000	Apartment Style	Garden
Price Per Unit	$226,042	Building Class	C
Sale Type	Investment	Lot Size	3.17 AC
Cap Rate	5.15%	Building Size	45,120 SF
Gross Rent Multiplier	10.43	Average Occupancy	96%
No. Units	48	No. Stories	2
Property Type	Multifamily	Year Built	1976
Property Subtype	Apartment	Parking Ratio	1.71/1,000 SF

Price	$10,850,000
Price Per Unit	$226,042
Sale Type	Investment
Cap Rate	5.15%
Gross Rent Multiplier	10.43
No. Units	48
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Garden
Building Class	C
Lot Size	3.17 AC
Building Size	45,120 SF
Average Occupancy	96%
No. Stories	2
Year Built	1976
Parking Ratio	1.71/1,000 SF