midtown 3 unit community...parable to luxury homes or condos built to todays most critical standards...

KELLY RIVETT t 916.569.2385 Senior Managing Director RE LIC #01249433

Midtown 3 U N I T Community

1917 28TH STREET | SACRAMENTO, CA | 95816

OFFERING SUMMARY

01


Newmark Knight Frank, as the exclusive advisor, is pleased to present the opportunity to acquire 3 units in the highly desirable Midtown Submarket of Sacramento, CA. Built in 1903 and completely renovated in 2017, this community consists of 1 three-bedroom / one and one half bath unit (±1,800 SF), 1 two-bedroom / one bath unit (±900 SF) and 1 one-bedroom / one bath unit (±700 SF). All units were remodeled to the highest quality com-parable to luxury homes or condos built to todays most critical standards and expectations. All units are 100% occupied by working professionals.

Located in Midtown Sacramento, tenants enjoy living in the urban core with easy access to many restaurants, bars, coffee shops, parks, schools, employment, hospitals and freeways.

1917 28th Street, Sacramento, CA 95816

$1,099,000$960,000 - Price Reduced

4.3% Current CAP Rate3 - Units

INVESTMENT SUMMARY

02


Address: 1917 28th Street Sacramento, CA 95816

County: Sacramento

Total Units: 3

Net Rentable SF: 3,400

Site Size: .07/acre

Total # Buildings: 1

Occupancy: 100%

Parcel #: 010-0054-023

Zoning: C-2-SP

Year Built: 1903 (Renovated 2017)

Unit Type SF Current Rent

3/1.5 1,800 $2,200

2/1 900 $1,685

1/1 700 $1,450

Total 3,400 $5,335

UNIT MIX

INVESTMENT HIGHLIGHTS

03

100% Occupied

Turn-Key Investment

All 3 Units Renovated to Luxury Standards

Location, Location, Location

Good Unit Mix

SACRAMENTO CITY RANKINGS

Top 10 Nationally for Coffee Aficionados

7th Nationally for “Greenest” Lifestyle

21st Best Big City to live in Nationally

14th “Coolest” City

Best City for Millennials

6th Most Diverse Big City Nationally

PROPERTY HIGHLIGHTS


FINANCIAL ANALYSIS

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Expenses

Real Estate Taxes $10,560 [2]

Insurance $1,500

Utilities $6,000

Management $2,560

Total Expenses $20,620

Net Offering Income $41,479

Less Debt Service ($26,271)

Estimated Cash Flow $15,208

Income and Expense Notes:

[1] Submarket Average

[2] Estimated Property Tax @ $960,000

Income Current Notes

Gross Scheduled Income $64,020

Vacancy Factor (3%) ($1,920) [1]

Effective Gross Income $62,099

INCOME AND EXPENSEInvestment Summary

Price $960,000

Down Payment $576,000

Number of Units 3

Price Per Unit $320,000

Price Per SF $282.35

Parcel Size .07/Acre

Year Built 1903 (Renovated in 2017)

Proposed Financing

Loan Amount $384,000

Interest Rate 4.75%

Term 7 Years

Monthly Payments $2,189

Annual Payments $26,271

Lender: TBD

Investment Returns

Current

CAP Rate 4.3%

GRM 15

Leveraged Cash/Cash 2.6%

Unleveraged Cash/Cash 7.2%

GALLERY

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AREA OVERVIEW

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1917 28TH STREET

NEARBY AMENITIES

TEMPLE COFFEESACRAMENTO NATURAL FOODS CO-OPREVOLUTION WINESPUSHKIN’S BAKERYKRUOBO ITALIAN TABLE & BARPARAGARY’SBIBALOU’S SUSHIB STREET THEATRESUTTER GENERAL HOSPITALRITE AIDTHE RED RABBIT KITCHEN AND BARHARLOW’SSOLFIRE YOGATRES HERMANASCANTINA ALLEYSAFEWAYPEET’S COFFEEPRESSED JUICERYBEAST + BOUNTYWEST ELMDEVICE BREWING COMPANYR15ACE OF SPADESBURGERS & BREWTHE SHADY LADY SALOONMAS TACO BARIRON HORSE TAVERNTOWER CAFETARGETHOOK AND LADDERERNESTOS MEXICAN FOODRICKS DESSERT DINERCHICAGO FIRE

The distributor of this communication is performing acts for which a real estate license is required. The information contained herein has been obtained from sources deemed reliable but has not been verified and no guarantee, warranty or representation, either express or implied, is made with respect to such information. Terms of sale or lease and availability are subject to change or withdrawal without notice.

980 NINTH STREET, SUITE 2500 | SACRAMENTO, CA 95814 | WWW.NGFK.COM

Senior Managing Director

Kelly Rivett916.569.2385

[email protected] RE License #01249433

18-1500.01/19

Midtown 3 U N I T Community


midtown 3 unit community...parable to luxury homes or condos built to todays most critical standards...

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