Ventura Gardens

09-13-2021
09-14-2021

5500 Foothill Garden Ct, Sacramento, CA 95841

  • Significant Value-Add Opportunity in One of the Country's Top Rental Growth Markets
  • Quiet Cul-de-Sac Setting in a Suburban Neighborhood
  • Large, Diverse Floor plans in Units that Feature Double Pane Windows, Individual Water Heaters, and Select Upgraded Interiors

Property Description

Marcus & Millichap is pleased to present Ventura Gardens Apartments, a 56 unit apartment community located in the unincorporated county of Sacramento. The property features a diverse unit mix of studios, one-bedroom and two-bedroom floorplans all tucked back at the end of a quiet cul-de-sac. The resulting ambiance is pleasing and unique for apartment living. The competitive landscape and recent leasing activity strongly suggest that there is upwards of 20 percent loss-to-lease present in the rent roll for the next owner to capture. The profitability of Ventura Gardens will continue to strengthen as the next owner extrapolates on the current interior renovation program already underway. Current ownership has performed unit renovations to varying degrees during turnovers with finishes that include resurfaced countertops, painted cabinets with brush nickel hardware, vertical blinds with valances, vinyl plank flooring in the wet areas, and new carpet in the bedrooms. A strong amenity package includes a large swimming pool, a nearby furnished gazebo and BBQ area, a leasing office and onsite laundry facilities. Beyond the quality of the interior finishes and charm of the grounds, residents will be attracted to Ventura Gardens for its proximity to American River College and Interstate 80 a major east-west transportation corridor in the Sacramento MSA. All windows at the property have been upgraded to double pane, assisting residents with reduced utility bills Individual hot water heaters also help reduce the utility bill for the owner, a unique feature for the vintage. The savvy investor will see the intrinsic value of the real estate and work toward executing a value-add strategy that supports

Unit Mix

Description No. of Units Sq ft. Avg. Monthly Rent
Single 8 500 $ 1,249
1+1 34 600 $ 1,349
2+1 13 800 $ 1,550
2+2 1 850 $ 1,600

Key Property Information

Listing Status
Available
Listing Type
Highest & best offer
Multi-family type
Garden Style
Price
$ 9,950,000
No. of Units
56
Cap Rate
4.2%
GRM / GIM
14.05
Year Built
1967
Building Size
35,675 Sq ft
No. of Stories
2
Opportunity Zone
Off
Price per unit
$ 177,679
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