Midtown 3 UNIT Community 1 9 1 7 28TH ST REET SACRAMENTO, CA 95 8 16 KELLY RIVETT t 916.569.2385 Senior Managing Director RE LIC #01249433
01 OFFERING SUMMARY Newmark Knight Frank, as the exclusive advisor, is pleased to present the opportunity to acquire 3 units in the highly desirable Midtown Submarket of Sacramento, CA. Built in 1903 and completely renovated in 2017, this community consists of 1 three-bedroom / one and one half bath unit (±1,800 SF), 1 two-bedroom / one bath unit (±900 SF) and 1 one-bedroom / one bath unit (±700 SF). All units were remodeled to the highest quality comparable to luxury homes or condos built to todays most critical standards and expectations. All units are 100% occupied by working professionals. Located in Midtown Sacramento, tenants enjoy living in the urban core with easy access to many restaurants, bars, coffee shops, parks, schools, employment, hospitals and freeways. 1917 28th Street, Sacramento, CA 95816 $1,099,000 3 - Units 3.6% Current CAP Rate 1 91 7 2 8 TH ST R E E T SAC R A M E N TO, C A 958 1 6
02 INVESTMENT SUMMARY Address: 1917 28th Street Sacramento, CA 95816 County: Sacramento Total Units: 3 Net Rentable SF: 3,400 Site Size:.07/acre Total # Buildings: 1 Occupancy: 100% UNIT MIX Unit Type SF Current Rent 3/1.5 1,800 $2,200 2/1 900 $1,685 1/1 700 $1,450 Total 3,400 $5,335 Parcel #: 010-0054-023 Zoning: C-2-SP Year Built: 1903 (Renovated 2017) 1 91 7 2 8 TH ST R E E T SAC R A M E N TO, C A 958 1 6
03 INVESTMENT HIGHLIGHTS PROPERTY HIGHLIGHTS SACRAMENTO CITY RANKINGS 100% Occupied Top 10 Nationally for Coffee Aficionados Turn-Key Investment 7th Nationally for Greenest Lifestyle All 3 Units Renovated to Luxury Standards 21st Best Big City to live in Nationally Location, Location, Location 14th Coolest City Good Unit Mix Best City for Millennials 6th Most Diverse Big City Nationally 1 91 7 2 8 T H ST R E E T SAC R A M E N TO, C A 958 1 6
04 FINANCIAL ANALYSIS INCOME AND EXPENSE Investment Summary Price $1,099,000 Down Payment $659,400 Number of Units 3 Price Per Unit $366,333 Price Per SF $323,24 Income Current Gross Scheduled Income $64,020 Vacancy Factor (3%) ($1,920) Effective Gross Income $62,099 Notes [1] Parcel Size.07/Acre Year Built 1903 (Renovated in 2017) Expenses Real Estate Taxes $12,100 Investment Returns Insurance $1,500 Current Utilities $6,000 CAP Rate 3.6% Management $2,560 GRM 17.1 Total Expenses $22,160 Leveraged Cash/Cash 1.5% Unleveraged Cash/Cash 6% Proposed Financing Net Offering Income [2] $39,939 Less Debt Service ($30,074) Estimated Cash Flow $9,932 Loan Amount $439,600 Interest Rate 4.75% Income and Expense Notes: Term 7 Years [1] Submarket Average Monthly Payments $2,506 [2] Estimated Property Tax @ $1,099,000 Annual Payments $30,074 Lender: TBD 1 91 7 2 8 T H ST R E E T SAC R A M E N TO, C A 958 1 6
05 GALLERY 1 91 7 2 8 T H ST R E E T SAC R A M E N TO, C A 958 1 6
06 AREA OVERVIEW NEARBY AMENITIES T EMP LE COFFEE SACRAMENTO NAT UR A L FOODS CO-OP REVOLUTION WI N ES PUSHKIN S BA K ERY KR U O BO ITA LIA N TA BL E & BA R PA RAGA RY S BIBA B STREET THEATR E S U TTER GENERAL HOSP I TA L RITE AID T HE RED RABBIT K I TC HEN A N D BA R H ARLOW S S OLFIRE YOGA T R ES HERMA N AS CA N TIN A ALLEY SA FEWAY PEET S COFFEE PR ESSED JUICERY BEAST + BOUN T Y WEST ELM DEVICE BREW ING COM PA N Y R1 5 ACE OF SPADES BURGERS & BREW T HE SHA DY LADY SA LOON MAS TACO BAR IRON HORSE TAVER N TOWER CA FE TARGET H OOK A N D LADD ER E R NESTOS MEX I C A N FOOD RICKS DESSERT D I N ER CHICAGO FIRE 1 91 7 28 T H ST REET 1 91 7 2 8 TH ST R E E T SAC R A M E N TO, C A 958 1 6
Midtown 3 UNIT Community 1917 28T H ST RE E T SACRAME NTO, CA 95816 Senior Managing Director Kelly Rivett 916.569.2385 krivett@ngkf.com CA RE License #01249433 980 NINTH STREET, SUITE 2500 SACRAMENTO, CA 95814 WWW.NGFK.COM The distributor of this communication is performing acts for which a real estate license is required. The information contained herein has been obtained from sources deemed reliable but has not been verified and no guarantee, warranty or representation, either express or implied, is made with respect to such information. Terms of sale or lease and availability are subject to change or withdrawal without notice. 18-1500.11/18