2848 Del Paso Boulevard

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Address: 2848 Del Paso Boulevard, Sacramento, California, US
Created date: November 6, 2023
Date last updated: February 26, 2024

• 20% upside in rental income
• ADU development opportunity
• Two adjacent parcels
• Brand new electrical panels
• Recently replaced hot water heater
• 7 of the 11 units have been upgraded
• Recently upgraded exterior
• Pitched roof
• Secured gated entrance
• Coin-operated laundry room

Property Description

We are pleased to present 2848 & 2856 Del Paso Boulevard, an opportunity to acquire a remodeled 11-unit multifamily community along with the adjacent developable lot, located in the heart of Del Paso Heights. 2848 Del Paso Blvd boasts a 0.23-acre lot and provides a total of 5,258 square feet of living space. The adjacent 0.12-acre lot at 2856 Del Paso Blvd presents an ideal opportunity for ADU development and has the potential to be sold off separately. The subject properties are in the northern part of Sacramento and offers relatively easy access to the city’s Downtown area, where you can find employment opportunities, cultural attractions, and entertainment options. 2848 Del Paso Boulevard consists of one two-story building that was constructed in 1971 with a pitched asphalt composition shingles roof and wood/stucco siding. The property has undergone extensive updates, enhancing its overall appeal and functionality. In 2023, the property underwent a transformative exterior upgrade, enhancing its aesthetic appeal. The improvements included a fresh coat of paint applied to the upstairs flooring and the exterior of the complex. In addition, cedar wood was added to the front of the building giving it a modern and stylish touch. In 2020, a new 100-gallon water heater tank was installed to serve the entire complex, and in 2022, all the electrical panels were updated. Any dry rots throughout the complex were diligently addressed to ensure the property’s durability and turn-key appeal. The unit mix consists of two studios, eight 1-bedroom/1-bathroom, and one 2-bedroom/1-bathroom units. Recent renovations have been thoughtfully carried out in seven out of the 11 units. Recent improvements include upgraded kitchen countertops, painted kitchen cabinets, upgraded bathroom cabinets, new ceiling fans, and recessed ceiling lighting. All 11-units have brand-new AC wall units, ensuring a comfortable living experience year-round. The property offers residents on-site parking and a convenient laundry facility. The building is secured by a gate and features a solar-powered security camera connected to the 3G mobile network, removing the need for Wi-Fi or conventional batteries. In addition, other features include automatic timer-controlled outdoor lighting at both the front and rear of the property and solar-powered ground-level lighting that highlights the property’s landscape. Tenants are responsible for gas and electricity within their unit, while the owner pays water, sewer, and garbage. The new owner can implement a Ratio Utility Billing System (RUBS) to bill a portion of these charges to the residents which is becoming more common in California. These charges are around $25-75 per unit in addition to the residents’ standard monthly rental payment depending on the amount of people in each unit.

Key Property Information

Listing Status: Available
Listing Type: Highest & best offer
Property Types: Apartment Buildings
Price: $1,375,000
No. of Units: 11
Cap Rate: 6.16%
GRM /GIM: 9.84
Year Built: 1971
Building Size: 5,258 Sq ft
Lot Size: 0.35 Acres
APN: 265-0222-010; 265-0222-011
Zoning Code: RMX
Opportunity Zone: No
Price per unit: $125,000
Address: 2848 Del Paso Boulevard

Additional contacts

Full name Phone number Email address
Matt Sarro 916-616-5267 [email protected]
Ahmed Kamil 916-830-2582 [email protected]
Alex Farhang 916-265-5192 [email protected]

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