Sacramento Real Estate Views

2217 15th Avenue, Sacramento

Just Listed!

I’ve just listed a fourplex in South Sacramento on 15th Ave.  I helped the seller to purchase this property last year and when he bought it, it was a mess.  2 of the units were in decent shape but the other two were in hellish shape.

He spent the money and fixed up all units and improved all systems that needed repair.

Each unit is 2 bedroom, 1 bath at an estimated 800 square feet.  The roof is in good shape and there are some minor repairs that will be completed prior to close of escrow.

The landscaping and auto sprinkler system have been repaired.

The condition here is virtually turnkey.  There will be a commercial pest/insect spray prior to close as well.

Rents

Each unit is currently rented for $650 per month.  There are no section 8 tenants.  There is also a small income coming from an onsite laundry area but this is nominal.  Each unit has a lease of varying length from 3 to 12 months.

That’s an estimated 8.44% cap rate on 25% down, 5% – 30 year fixed.

Location

The location here is good.  Very close to both Highway 99 and I-5.  In addition, it’s just across Sutterville Road from Sacramento City College and just across Freeport from William Land Park.

For more information on this listing or any other listing in the Sacramento region, please fill out the form below and we’ll get back to you promptly.

Thanks for visiting!

Home Buyer Info Here!

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All information is estimated.  Buyer to ascertain for themselves all questions regarding condition and investment viability.  Buyer responsibility to verify all assertions.

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Tags: investment property sacramento

This entry was posted on Monday, August 23rd, 2010 at 8:56 am and is filed under Real Estate Market Commentary. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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