Hurley North

• Assumable Financing Available
• Built in 1977
• Central Heating and Air Conditioning
• Excellent Unit Mix Including 2BR/2BA Floorplans
• Secured Gated Property
• 15 of 18 Units Remodeled
• Large Private Backyards
• Completely Remodeled Laundry Facility

Property Description

Colliers is pleased to present Hurley North, an 18-unit multi-family apartment community in the Arden/Arcade submarket of Sacramento. The complex is in a residential community with close proximity to K-12 schools, Sacramento State University, the Arden Fair Shopping Mall, and Howe Bout Arden retail center. Residents further benefit from walking distance and drivability to a vast amount of employment, shopping, and dining experiences. The American River is a short tread from the property and provides residents with serenity along the walking and bike paths. Being well-located between two of the submarket’s primary thoroughfares, Howe Avenue and Fulton Avenue, tenants of Hurley North enjoy accessibility to a majority of the four-county region. Business-80 and Highway 50 are both less than 3 miles from the property, giving quick mobility to the Greater Sacramento Area which includes attractions and conveniences such as Golden 1 Center, the Sacramento Airport, and all the other regional activities that make Sacramento a thriving community. Hurley North sits on a 0.7-acre parcel and consists of 12,804 square feet of living space. This community offer a desirable unit mix of twelve, one-bedroom/one-bathroom, four, two-bedroom/two-bathroom, and two, two-bedroom/one-bathroom units. The current owner has updated 15 of 18 units, completed all dry-rot repairs, and performed extensive work on all balconies. Interior remodels vary by unit, but all include new flooring, paint, and kitchen and bathroom touches. The laundry room was just extensively remodeled throughout, including brand new machines. The new owner will have the option to maintain the community pool or abandon and create a BBQ/seating area as well as additional tandem parking spaces. A new owner will be able to improve revenues by narrowing the existing loss to lease via annual rent increases on longer term tenants, by rehabbing the remaining 3 units on turnover, and by implementing a Ratio Utility Billing System (RUBS) to bill a portion of the sewer, water, and garbage charges to all residents. For More Information, please contact: Alex Farhang Associate +1 916 265 5192 [email protected] CA Lic. 02141654