Description

Parkway Townhomes in Sacramento allows an incoming investor to acquire the property free and clear of any lienholder encumbrances OR assume existing financing of ±$7,000,000 at 3.25% until May 2027 providing the investor with rare positive leverage in today’s unique market. This 90-unit apartment has a variety of unit sizes and styles and consists of (9) studios, (9) small 1 bed / 1 bath, (27) large 1 bed / 1 bath, and (45) 2 bed / 1.5 baths w balconies. The building has 71 parking spaces, two (2) on-site laundry sites, a leasing office, and a central communal area including a large swimming pool. Many units have the opportunity to be updated cosmetically as well as functionally. Updating the HVAC with SMUD rebates could assist in lowering or removing the unit’s landlord-provided gas, while efficient water fixtures would reduce water bills. On-site management restructuring would also provide for increased income with minimal investment as well as lowered landlord expenses. Located immediately near Parkway Estates in Sacramento County, the property is under a 10-minute drive to Downtown and Midtown. The property has easy walkable access to grocery stores including Ranch 99, Starbucks and Dutch Bros, and a variety of dining options, as well as large big box retail.

Features

• 2.37 Acres