West Sacramento SFRs
2601-2602 Franklin Way
West Sacramento, CA 95691
- Spacious 3 and 2 bedroom homes
- Strong in-place rents
- Potential to increase rents on those below market
- Single-story homes with carports, fenced yards, and washer/dryer hook-ups
- Excellent location near "essential" anchored commercial amenities and major employment
- Located within an Opportunity Zone with potential to qualify for capex improvements
*Seller Financing Available with negotiable Terms*
*Shutdown Resilient* with strong rent collections from April through June during the shelter-in-place!
Upside in rents with allowable increases under Section 8 that is not subject to rent control.
Franklin Way Single-Family Residences consists of a total of 22 homes comprised of Thirteen (13), 3 Bedroom / 1 Bath homes approximately 936 SF each plus Nine (9), 2 Bedroom / 1 Bath homes approximately 727 SF each for a total building size of 18,504 SF. Built in 1961 the homes are situated side-by-side on two parcels and are fully leased to tenants with guaranteed income from Section 8, SSI, and Pensions or employed in the 'essential' category.
Each home has their own individual front and backyard, drive-way carport, and washer/dryer hook-ups.
The value-add is in that the majority of the tenants have not received a rental increase in over 12 months of which many are well below market rent based on newest leases.
There's also potential upside in rebuilding or expanding on two lots where two units burned down (2016) or utilizing them as picnic/play areas for the tenants.
The homes command high market rent since tenants prefer to live in single-story housing versus stacked apartments. This is a rare opportunity to own single-family homes on an entire cul-de-sac about 1 mile from Sacramento's Downtown Central Business District.
Franklin Way Single-Family Homes is located within an Opportunity Zone in rapidly growing West Sacramento. The subject properties are walking distance to major anchored "essential" retailers such as Walmart Super Center, Home Depot, Starbucks, In N Out, and IKEA plus other neighborhood retail services. Less than 1 mile from Sacramento's Central Business District.