Sutter Crossing

09-16-2022
10-04-2022

5939 Sutter Ave, Carmichael, CA 95608

 

  • Seven Units Currently Being Turned or On Notice; Average Loss to Lease Upside is $396
  • 80 Percent of Interiors Fully Remodeled
  • Highly Desirable Suburban Sacramento Location
  • Exclusively Two-Bedroom Floor Plans – Downstairs Units Feature Large Backyards
  • Brand New Roof, Windows, Paint and Landscaping

Property Description

Marcus & Millichap is pleased to present Sutter Crossing Apartments, a beautifully renovated apartment community featuring exclusively two-bedroom floor plans in the affluent community of Carmichael, California.
Carmichael is located in suburban Sacramento and is widely known for it’s performing schools, access to the American River Parkway, and desirable neighborhoods. Sutter Crossing is a very short driving distance to some of the regions’ best shopping and recreational opportunities. Current ownership has remodeled 80 percent of the interiors in recent years; remodels that include granite counter tops, LVP flooring, new cabinetry, stainless steel appliances, and upgraded mini split AC systems. Exterior upgrades include a brand new roof, fresh paint, and remodeled landscaping, all done in the 2022 calendar year. Sutter Crossing is also on a unique lot that sits well off the street, providing residents a sense of privacy and an opportunity to enjoy their large backyards in a quiet environment.
 
The next owner inherits a property that is almost completely turnkey, but also represents a unique value-add opportunity through more aggressive management and following a proven renovation strategy. The Carmichael submarket and Sacramento MSA at large is one of the primary beneficiaries of the accelerating wave of suburbanization in the United States . Large numbers of people and the companies they work for are driving increased demand for suburban living and the primary beneficiaries have been secondary markets like Sacramento. Sutter Crossing has the ideal unit mix and location to be poised to benefit from this demographic trend.
 
All tours must be scheduled through the listing agents. Please do not disturb management or tenants.

Key Property Information

Listing Status
Available
Listing Type
Highest & best offer
Multifamily type
Garden Style
Price
$ 7,900,000
No. of Units
40
Cap Rate
5.2%
Year Built
1961
Building Size
27,552 Sq ft
Lot Size
1 acres
No. of Stories
2
Opportunity Zone
No
Price per unit
$ 197,500
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