$5,675,000

4661 Orange Grove Avenue, Sacramento CA, 95841

Price per sqft$8,730.77

Built in1963

Property size650 sqft

Property typeMulti-family

Overview

Sold

Closed

Listed Apr 3, 2025

Updated May 29

Orange Grove Apartments for sale. The 46-unit property is located in Sacramento California and was originally constructed in 1963. The property has seen numerous upgrades over the last several years. The garden style apartment building features a diverse unit mix with 26 One Bedroom / One Bathroom units averaging 650 rentable square feet, and 20 Two Bedroom / One Bathroom units averaging 850 rentable square feet. The average rent on the rent roll today is $1,395/mo. Assuming the remainder of the unrenovated units get upgraded and the next owner collapses all the embedded loss to lease, there's 9% upside in income pro forma. With most of the units being renovated by the current owner, the new purchaser will inherit a stable operation with continued operational upside in a submarket that isn't suited for any new construction competition. Most units have seen upgraded granite counter tops, LVP flooring, and new appliances. The large floorplans attract a resident profile that wants to stay longer than the initial lease term.

Additional information

MLS^® ID: 225040827

Interior Features

Bedrooms: 3
Bathrooms: 2
Cooling: Yes
Heating: Yes
Basement: No

Exterior Features

Lot Size: 1.43 Acres

Courtesy of Marcus & Millichap Real Estate, David DeLoney,
Listing Contact:

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