2553 Lexington Street
- Well-maintained and stabilized apartment community
- Desirable mix of one- and two-bedroom units
- Updated interior finishes
- Durable pitched roof construction
- Energy-efficient dual-pane windows
- Convenient onsite and off-street parking
Property Description
Colliers is pleased to present 2533 Lexington Street, a five-unit apartment community comprised of three one-bedroom/one-bathroom units and two two-bedroom/one-bathroom units. The property has benefited from consistent ownership and ongoing capital improvements, resulting in a well-maintained and stable investment opportunity. The community consists of two separate two-story buildings constructed with T1-11 siding and pitched roofs, offering both durability and long-term structural integrity. Each unit is equipped with wall heating and air conditioning, as well as a gas or electric stove and refrigerator. Interior finishes include a combination of laminate, luxury vinyl plank (LVP), linoleum, and carpeted bedrooms, providing a functional and comfortable living environment for residents. All units are individually metered for gas and electricity, and each unit features its own water heater, allowing for efficient utility management. The property offers both off-street and on-street parking, enhancing convenience for tenants. There is additional upside potential for a new owner through the implementation of a RUBS (Ratio Utility Billing System) program upon unit turnover. This strategy can increase overall cash flow by an estimated $25 to $75 per unit per month, improving the property’s income performance. The property is located in the Hagginwood neighborhood of Sacramento, California, a centrally positioned area with strong rental demand. Arden Fair Mall is located less than 2.4 miles away, while Downtown Sacramento and the Golden 1 Center are just over five miles from the property. This proximity to major employment hubs, retail centers, dining, and entertainment options provides residents with excellent access to essential amenities and services. The surrounding submarket demonstrates a healthy rental base, with approximately 53% of residents renting and 47% owning their homes. The area is also well-suited for families, offering nearby elementary, middle, and high schools, as well as numerous public parks and recreational spaces that support an active lifestyle.
Key Property Information
| Listing Status: | Sold |
|---|---|
| Sold Date: | 09-07-2026 |
| Listing Type: | Highest & best offer |
| Property Types: | Apartment Buildings |
| Price: | $575,000 |
| No. of Units: | 3 |
| Cap Rate: | 7.58% |
| GRM /GIM: | 8.20 |
| Year Built: | 1938 |
| Building Size: | 2,850 Sq ft |
| Lot Size: | 0.10 Acres |
| APN: | 265-0323-016 |
| Zoning Code: | R-1 |
| Opportunity Zone: | No |
| Price per unit: | $199,667 |
Additional contacts
| Full name | Phone number | Email address |
|---|---|---|
| Matt Sarro | 916-616-5267 | [email protected] |
| Trevor Meleski | 530-903-0959 | [email protected] |
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