515 18TH STREET MIDTOWN QUADPLEX FOR SALE TURTON

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Mavis Bond
5 years ago
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1 515 18TH STREET MIDTOWN QUADPLEX FOR SALE C A L L F O R O F F E R S D U E O C T O B E R 3 1 S T, ! TURTON

2 3 THE PROPER T Y TURTON COMMERCIAL IS PLEASED TO PRESENT A QUADPLEX FOR SALE IN VIBRANT MIDTOWN 515 18th Street is an exquisite quadplex located near

The property is fully leased, comprised of four residential units (approximately 800 square feet each) three 2-bedroom 1-bath and one 1-bedroom 1 bath

The residential units feature real brick, wood-burning fireplaces, hardwood floors in the common areas, remodeled kitchens with dishwashers and stone

Two of the units are complemented with a privacy porch and two with balconies, and all the units have central air conditioning and heat as well as dual

The building s superb location and beautiful interiors create an amazing opportunity for the future investor.

2 2 3 THE PROPER T Y TURTON COMMERCIAL IS PLEASED TO PRESENT A QUADPLEX FOR SALE IN VIBRANT MIDTOWN th Street is an exquisite quadplex located near the Downtown Business District as a great value-add investment opportunity! The property is fully leased, comprised of four residential units (approximately 800 square feet each) three 2-bedroom 1-bath and one 1-bedroom 1 bath residential units, and a parking garage for three vehicles. The residential units feature real brick, wood-burning fireplaces, hardwood floors in the common areas, remodeled kitchens with dishwashers and stone and granite counter tops. Two of the units are complemented with a privacy porch and two with balconies, and all the units have central air conditioning and heat as well as dual pane windows. The property currently generates Gross Annual Income of $62,640. The building s superb location and beautiful interiors create an amazing opportunity for the future investor. This charming quadplex showcases well near the heart of an excelling City. The property is zoned for R-3A uses, and is located on the edge of the highly coveted boulevard park neighborhood, just a few blocks from the Creamery townhome development by Black Pine Communities. PROPERTY INFORMATION Address: th Street Sacramento, CA Current Gross Income: $62,640 Potential Gross Income: $98,520 Potential Cap Rate: 4.13% APN: Building Size: 3,180 SF Parcel Size: 3,049 SF Zoning: R-3A C A L L F O R O F F E R S D U E O C T O B E R 3 1 S T, !

4 5 PROPERT Y L OCATION GOLDEN 1 CENTER/DOCO TAKE ADVANTAGE OF S EXCELLING MIDTOWN AND DOWNTOWN MARKETS Downtown Sacramento is emerging as the vibrant cultural, entertainment, business and

Nearby, The Kay is located in the heart of this bustling hub and is home to popular amenities like the Crest Theatre, Pizza Rock, Dive Bar and California Family Fitness.

Downtown Sacramento has become the epicenter for the region s most exciting events and development activity. Golden 1 Center had 145 events in 2017 and increases foot traffic by 51% on event days.

3 4 5 PROPERT Y L OCATION GOLDEN 1 CENTER/DOCO TAKE ADVANTAGE OF S EXCELLING MIDTOWN AND DOWNTOWN MARKETS Downtown Sacramento is emerging as the vibrant cultural, entertainment, business and residential destination for the entire region. Nearby, The Kay is located in the heart of this bustling hub and is home to popular amenities like the Crest Theatre, Pizza Rock, Dive Bar and California Family Fitness. Take advantage of Sacramento s renaissance and demographic shift to the live, work, play lifestyle! Downtown Sacramento has become the epicenter for the region s most exciting events and development activity. Golden 1 Center had 145 events in 2017 and increases foot traffic by 51% on event days. 25 new retail businesses opened downtown in 2017 and the office market continues to develop as firms move to the urban core to attract top talent. More than one-third of the Class A office space in the region is located in Downtown providing a large daytime population of over 99,000 employees. Most notably, the addition of 16 Powerhouse,Legado de Ravel, and Eviva has brought nearly 150 market-rate apartments units to the immediate vicinity. Furthermore, the Jefferson School site situated caddy-corner to the Property is likely slated for development within the next two years. Fueled by the millennial generation, demand for downtown housing continues to grow from its current 17,000 residents and Downtown hotel occupancy has increased to 77% - well above the national average. STATE CAPITOL CONVENTION CENTER FIRESTONE PUBLIC HOUSE MIDTOWN MIKUNI P.F. CHANG S GOLDFIELD S AZUL FARMER S MARKET LOWBRAU BADLAND S PETE S COFFEE OLD SPAGHETTI FACTORY FACES MANGO S TANK HOUSE NOAH S BAGELS BLOCK BUTCHER BAR TEMPLE COFFEE ROASTERS Stone throws from many restaurants and retailers: Sandra Dee s BBQ & Seafood, Shine Cafe, Yoga Seed, Taqueria Jalisco, 524 Mexican, Barber Blues, Sampino s Towne Foods, Lucca, and Mikuni s. DOWNTOWN CESAR CHAVEZ PLAZA SHERATON GRAND MEMORIAL AUDITORIUM REPUBLIC 524 MEXICAN WELLS FARGO PAVILLION LUCCA HOLIDAY INN SANDRA DEE S BBQ TRAVEL LODGE AMERICAN INN 16TH STREET SHINE CAFE YOGA SEED BARBER BLUES ECONO LODGE 19TH STREET CAPITAL GROCERY THE MILL 16TH STREET DONUTS SAMPINO S WASHINGTON PARK The location in the New Era Park neighborhood provides many advantages and easy access to some of Sacramento s most exciting amenities: Excellent location near the State Capitol, Golden 1 Center, Downtown Commons, 16th Street, K Street, Convention Center, Memorial Auditorium, Wells Fargo Pavilion/Sacramento Theatre Company, Amtrak Sacramento Valley Station and the Railyards redevelopment project HYATT REGENCY ESQUIRE IMAX THEATRE WASHINGTON ELEMENTARY Pedestrian and Bike-Friendly Neighborhood, including nearby American River Bike Trail Short walk to public transportation lines, parks, variety of eateries and amenities TAQUERIA JALISCO MIDAS GRATEFUL DOG DAYCARE H STREET THE PROPERTY NEW ROMA BAKERY C STREET Short distance to Midtown, Old Sacramento, West Sacramento and Natomas Proximity to I-80 and I-5 freeways AMERICA S BEST VALUE INN THE FORMULATION ROOM 2018 This information has been secured from sources believed to be reliable. Any projections, opinions, assumptions or estimates used are for example only and do not constitute any warranty or representation as to the accuracy of the information. All information should be verified through an independent investigation by the recipient, prior to execution of legal documents or purchase, to determine the suitability of the property for their needs. Logos and/or pictures are displayed for visual purposes only and aare the property of their respective owners.

4 6 7 PROPERTY ECONOMICS In the first quarter of 2018, the multi-family occupancy rate in Downtown Sacramento rose to 96%. The asking rents for two-bedroom apartments in Midtown Sacramento ranges from $2,200 to $3,000+ per month, depending on the offering of amenities and quality of finishes. Multifamily properties have become the most popular investment category in Sacramento. Tenant demand is insatiable for apartment rentals in the Urban Core especially. Vacancy rates have fallen to historic lows, a staggering 2.6 percent. Sacramento s population continues to grow at 1.5 percent a year, faster than any major city in California, and construction of new units is underway but is not nearly enough. Owners of historic multifamily properties can enjoy the benefits of increasing cash flow and long-term, rock-solid stability of their investment. OPERATING STATEMENT INCOME Current Potential Scheduled Annual Rent $62, $98, Monthly Rent Roll: Unit #1 $1, $1, Unit #2 $1, $2, Unit #3 $1, $2, Unit #4 $1, $2, Less Vacancy Reserve - 3% $- $(2,856.00) Effective Rental Income $60, $92, Other Income Parking - 2 stalls, 1 garage $- $3, Utility Bill-Back $- $ Effective Gross Income $60, $96, PROPERTY INFORMATION Address th Street City, State, Zip Sacramento, CA Number of Units 4 Number of Stories 2 Parking 1 garage, 2 stalls Total Building Size Sq. Ft. 3,174 Approx. Lot Size(Acres) 0.07 APN Zoning R-3A UNIT FEATURES Parking garage for 3 vehicles New interior and exterior doors and trim Outdoor patios and balconies Hardwood floors throughout Stone/Granite Counter Tops Central Heat/Air and Dual Pane Windows Real brick fireplaces Dishwashers and Coin-Op Laundry EXPENSES CURRENT RENT ROLL Property Taxes % Insurance $1, Water, Sewer & Garbage $5, Landscaping $ Other Maintenance $2, Management Fee - 5% $2, Operating Reserves $ Unit Number Unit Type Current Potential Unit #1 1bd/1bath $1,195 $1,935 Unit #2 2bd/1bath $1,200 $2,000 Unit #3 2bd/1bath $1,325 $2,000 Unit #4 2bd/1bath $1,350 $2,000 Total Monthly Income $5,070 $7,935

TURTON KEN TURTON PATRICK STELMACH ZACHARY HOOKER

COM 916.573.3315 Z ACHARYHOOK ER@TURTONCOM.COM D.

5 TURTON KEN TURTON PATRICK STELMACH ZACHARY HOOKER K ENTURTON@TURTONCOM.COM PATRICKS TELMACH@TURTONCOM.COM Z ACHARYHOOK ER@TURTONCOM.COM D.R.E. LIC D.R.E. LIC D.R.E. LIC L STREET, STE 200,, CA TURTONCOM.COM

STREET INVESTMENT PROPERTY FOR SALE IN DOWNTOWN SACRAMENTO

STREET INVESTMENT PROPERTY FOR SALE IN DOWNTOWN SACRAMENTO 318 12 STREET TH INVESTMENT PROPERTY FOR SALE IN DOWNTOWN SACRAMENTO 2 3 THE PROPERTY TURTON COMMERCIAL, AS EXCLUSIVE ADVISOR, IS PLEASED TO PRESENT THE OPPORTUNITY TO ACQUIRE THE 100% FEE SIMPLE INTEREST