Sixteen 20 G
- Turn key opportunity
- Stabilized apartment community
- Two-story garden style
- Extensive remodel in 2019
- Modern vibe
- Studio, One-, Two-bedroom units
- Off-street covered parking
- On-site laundry
- Swimming pool
- RUBS program implemented
- Redwood timber entry doors
- Open floor plan
- Stainless steel appliances
- Vinyl plank flooring
- Wall air and heat
- Ceiling fans
- On-site manager’s office
Property Description
Sixteen 20 G has undergone an extensive renovation as of 2019, transforming both the exterior and interior of the complex to create a modern, turn-key community ideal for new investors. Originally built in 1959, this property now showcases the look and feel of a newly constructed development, aligning perfectly with the ongoing gentrification in Downtown-Midtown Sacramento. The building consists of 20 units, featuring a mix of studio, one-bedroom, and two-bedroom apartments, alongside convenient off-street parking and on-site laundry facilities. The unit breakdown includes 4 studios, 14 one-bedrooms with four distinct floor plans, and 2 two-bedroom units. This secured community impresses with elegant redwood timber entry doors, and enhanced trim around a portion of the pool. Off-street covered parking spaces are available for lease, and a Ratio Utility Billing System (RUBS) has been implemented to recapture some of the common area utility expenses. Each unit is individually metered for gas and electricity, with the owner responsible for sewer, water, garbage, common area lighting, and water heating. Inside, every unit features an open floor plan with new vinyl plank flooring in the living areas, kitchens, and bathrooms, complemented by cozy carpeting in the bedrooms. The units are equipped with stylish six-panel doors, countertops, vanities, and showers, elevating the living experience. Stainless steel appliances and faucets add a modern touch that will impress tenants upon entry. Additionally, each unit comes with wall heating and air conditioning, as well as ceiling fans in the bedrooms for optimal comfort. A new investor will appreciate the personal touch and craftsmanship that went into this impressive remodel, along with the advantage of a solid infill location that positions Sixteen 20 G as a prime asset in the market.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Highest & best offer |
| Property Types: | Apartment Buildings |
| Price: | $4,400,000 |
| No. of Units: | 20 |
| Cap Rate: | 5.01% |
| GRM /GIM: | 11.86 |
| Average Occupancy: | 90 |
| Year Built: | 1959 |
| Year Renovated: | 2019 |
| Building Size: | 12,287 Sq ft |
| Lot Size: | 0.35 Acres |
| No. of Stories: | 2 |
| APN: | 002-0174-021 |
| Zoning Code: | R-3A-SPD |
| Opportunity Zone: | No |
| Price per unit: | $220,000 |
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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