8 Units | Minutes to Downtown Sacramento

Highlights

• Well maintained gated complex just minutes from Downtown Sacramento.
• RUBS of $48 is being implemented on new leases.
• Loss-to-Lease based on newly rented equates to +/-$16,416 annually.
• There are 2 vacant units that leased at market generate additional $29K annually.
• True upside in rents since Avg. Rent is $1,043 vs. New Rents at $1,214.
• (4) of the unit interiors have been updated with paint, appliances, and flooring.
• The exterior has been renovated with paint, lighting, lush landscaping, and fencing.

Description

691 El Camino Ave., Sacramento is an 8 unit in the heart of the rejuvenated North Sacramento market. This small gated apartment complex is comprised of all 1 bedroom with 1 bath units approximately 540 SF with an onsite laundry facility. The units are separately metered for electrical and gas. The units also feature dual pane windows, wall heating & air, updated appliances (varies), along with one (1) central water heater. Four (4) of the unit interiors were upgraded with paint, appliances, and flooring. The exterior was also improved with a modernized paint pallet with light fixtures.

Many of the leases are well below market with an average rental rate of $1,043. A recently rented unit leased for $1,214 signifying that there's a loss-to-lease rent of approximately $16,416 if all the units were paying the new rental rate. Furthermore, there are two vacant units that can be leased at market rate. Plus, the ownership recently implemented RUBS on the new leases to help offset utility costs.

691 El Camino Ave, nestled in the heart of Sacramento, CA, is part of the well-established and rejuvenated North Sacramento neighborhood, a community rich in history with many homes dating back to the 1920s. This is a desirable apartment complex since it offers an appealing mix of affordability and convenience, making it an ideal choice for renters desiring proximity to Downtown Sacramento.

Residents can enjoy an abundance of recreational opportunities, including access to the American River via the adjacent Discovery Park. The neighborhood’s close proximity to Downtown Sacramento, allows residents easy access to a variety of commercial amenities, major employers, restaurants, breweries, shops, and museums.

Additionally, the property is within 1.6 miles of three shopping centers and 5.2 miles of five parks, including Discovery County Park, Bannon Creek Parkway, and Governor’s Mansion State Historic Park. The location is serves into the Twin Rivers Unified District.

This solid location offers a dynamic mix of retail, dining, and entertainment options, making it an stable long-term investment in the path of continued growth. With convenient access to popular landmarks such as Arden Fair Mall, Discovery Park, and CSU Sacramento, the location is great for working professionals, students, or retirees . The area’s proximity to major highways and public transportation further enhances its appeal, providing easy connectivity for employers.