Description

Greystone Place is a multi-family apartment complex located in Sacramento, California. The 30 two story fourplex buildings are placed on a 4.1 acre lot with 160 gated parking spaces which is 1.33 spaces per unit. The unit density is about 28.9 units per acre. Each unit is 760-square with two bedrooms, one bath, a kitchen, living room and washer/dryer hookups. The spacious floor plan includes ceiling fans and wall mounted heating and air conditioning. The complex has two coin operated washrooms and area to construct additional units or perhaps a recreational facility. One unit is used as an on site office and another unit is used for maintenance storage. Gross Potential Market Rent: $725. per unit times 120 units =$1,044,00. at a Cap Rate of 8.64 and a GRM of 6.27.

The units are within blocks of Highways 99 and 80 and City bus transportation. The light rail is about a mile away for easy access to the downtown area. Sacramento is the State Capitol with abundant job opportunities and the job market is increasing with corporations relocating to the area. The nearby Florin Town center accommodates the tenants grocery and shopping needs. The shopping mall includes a Walmart, a Dollar tree and several banks including Bank of America and Wells Fargo. The large lot can accommodate additional construction. The consecutive 18 years of ownership allows for investment groups to acquire the property using tax credits and bond financing while available. Show by appointment only with Owner-Do Not Go Directly call Broker to set up appointment. Additional Information to be provided to qualified Buyers.