offering memorandum · 2020. 9. 22. · property summary offering summary proposed financing first...
TRANSCRIPT
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EDISON OAKS APARTMENTS3405 Hidden Oak Ct • Sacramento, CA 95821
Offering Memorandum
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N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E
Confidentiality and DisclaimerThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and
should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified
information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due
diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the
future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or
asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any
tenant's plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable;
however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters
and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of
the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.
SPECIAL COVID-19 NOTICE
All potential buyers are strongly advised to take advantage of their opportunities and obligations to conduct thorough due diligence and seek expert opinions as they may deem necessary,
especially given the unpredictable changes resulting from the continuing COVID-19 pandemic. Marcus & Millichap has not been retained to perform, and cannot conduct, due diligence on
behalf of any prospective purchaser. Marcus & Millichap’s principal expertise is in marketing investment properties and acting as intermediaries between buyers and sellers. Marcus &
Millichap and its investment professionals cannot and will not act as lawyers, accountants, contractors, or engineers. All potential buyers are admonished and advised to engage other
professionals on legal issues, tax, regulatory, financial, and accounting matters, and for questions involving the property’s physical condition or financial outlook. Projections and pro forma
financial statements are not guarantees and, given the potential volatility created by COVID-19, all potential buyers should be comfortable with and rely solely on their own projections,
analyses, and decision-making.
Non-Endorsement NoticeMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's logo or name
is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or
commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.
PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.
EDISON OAKS APARTMENTS
Sacramento, CA
ACT ID ZAB0030239
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TABLE OF CONTENTS
SECTION
INVESTMENT OVERVIEW 01Offering Summary
Regional Map
Local Map
Aerial Photo
FINANCIAL ANALYSIS 02Rent Roll Summary
Rent Roll Detail
Operating Statement
Notes
Pricing Detail
Acquisition Financing
MARKET COMPARABLES 03Sales Comparables
Rent Comparables
MARKET OVERVIEW 04
Market Analysis
Demographic Analysis
EDISON OAKS APARTMENTS
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EDISON OAKS APARTMENTS
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INVESTMENT
OVERVIEW
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EDISON OAKS APARTMENTS
#
EXECUTIVE SUMMARY
OFFERING SUMMARY
MAJOR EMPLOYERS
EMPLOYER # OF EMPLOYEES
Mercy General Hospital 3,000
Apexcare Inc 2,000
Resource Staffing Group 1,883
Sacramento State Sponsored RES 1,856
American River College 1,820
Mercy General Hospital Bus Off 1,600
California Expo & State Fair 1,506
Windsor Sacramento Estates 1,356
Sutter Hlth Scrmnto Sierra Reg 1,265
Lyon Real Estate 1,066
Crown Building Maintenance Co 1,052
Disbursements and Support 1,000
DEMOGRAPHICS
1-Miles 3-Miles 5-Miles
2020 Estimate Pop 13,322 125,490 334,710
2010 Census Pop 12,562 117,668 314,336
2020 Estimate HH 5,923 50,163 132,339
2010 Census HH 5,508 46,320 122,368
Median HH Income $39,269 $46,597 $55,145
Per Capita Income $27,748 $27,219 $32,385
Average HH Income $62,342 $67,620 $81,369
UNIT MIX
NUMBEROF UNITS
UNIT TYPEAPPROX.SQUARE FEET
4 1 Bed 1 Bath 650
6 2 Bed 1 Bath 825
2 3 Bed 2 Bath 950
12 Total 9,450
VITAL DATA
Price $2,200,000 CURRENT YEAR 1
Loan Amount $1,210,000 CAP Rate 4.81% 5.22%
Loan Type Proposed New GRM 13.02 11.75
Interest Rate / Amortization 2.95% / 30 YearsNet Operating Income
$105,834 $114,931
Price/Unit $183,333Net Cash Flow After Debt Service
4.55% / $45,008 5.47% / $54,105
Price/SF $232.80 Total Return 7.12% / $70,482 8.12% / $80,341
Number of Units 12
Rentable Square Feet 9,450
Year Built / Renovated 1973 / 2019
Lot Size 0.55 acre(s)
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EDISON OAKS APARTMENTS
OFFERING SUMMARY
▪ Recently Renovated
▪ New Roof
▪ New Air Conditioning Units
▪ Nine of 12 Units Renovated
▪ Located at the End of a Cul-de-sac
▪ Low Turnover
INVESTMENT HIGHLIGHTS
Marcus & Millichap is pleased to exclusively list for sale a multifamily (garden/low-rise) asset with a total of 12 units. The market generally classifies the subject as a
standard investment property. The subject consists of one-bedroom, two-bedroom, and three-bedroom units. The most notable physical strength of the subject is its steady
rental collections. Investors would be most attracted to the subject due to its low vacancy rate.
The property is in an established area of Sacramento, California. The subjects market area is anticipated to have growth in the upcoming few years. Residential uses
present in the subjects immediate area include both single-family and multi-family development. Retail and commercial development are located in the immediate area along
major thoroughfares such as Edison Avenue, Auburn Boulevard, and Fulton Avenue. The subject is well located within its neighborhood and within Sacramento, with respect
to the neighboring highways.
INVESTMENT OVERVIEW
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EDISON OAKS APARTMENTS
#
OFFERING SUMMARY
PROPERTY OVERVIEW
Marcus & Millichap is pleased to present 12 units in the Sacramento area made up of four one-bed/one-bath units,
six two-bed/one-bath units, and two three-bed/two-bath units. Recently renovated in 2019/2020 and tucked away
in a quaint cul-de-sac.
There are a number of parks, golf courses, and other recreational facilities in the area including Seely Park,
Bohemian Park, and Howe Community Park. The Allister Mackenzie Golf Course, Haggin Oaks Golf Court, and
Del Paso County Club are also located within close proximity to the subject. The Arcade Library is located
approximately one mile south of the subject. The closest United States Post Office is located just south of the
before-mentioned library. It is noted that Kaiser Permanente Medical Offices are located along Morse Avenue and
Cottage Way and is located approximately three miles south of the subject. The subject property has access to
Interstate Business 80, Interstate 80, and State Route 160. It is noted that several bus stops are available along
Marconi Avenue within walking distance to the subject. The Sacramento International Airport is located in the
northern portion of Sacramento just north of Interstate 5 approximately 18 miles northwest of the subject property
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EDISON OAKS APARTMENTS
PROPERTY SUMMARY
OFFERING SUMMARY
PROPOSED FINANCING
First Trust Deed
Loan Amount $1,210,000
Loan Type Proposed New
Interest Rate 2.95%
Amortization 30 Years
Loan Term 30 Years
Loan to Value 55%
Debt Coverage Ratio 1.74
THE OFFERING
Property Edison Oaks Apartments
Price $2,200,000
Property Address 3405 Hidden Oak Ct, Sacramento, CA
SITE DESCRIPTION
Number of Units 12
Year Built/Renovated 1973
Rentable Square Feet 9,450
Lot Size 0.55 acre(s)
Type of Ownership Fee Simple
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REGIONAL MAP
EDISON OAKS APARTMENTS
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LOCAL MAP
EDISON OAKS APARTMENTS
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AERIAL PHOTO
EDISON OAKS APARTMENTS
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Marcus & Millichap closes
more transactions than any other
brokerage firm.
12
EDISON OAKS APARTMENTS
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PROPERTY PHOTO
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Marcus & Millichap closes
more transactions than any other
brokerage firm.
12
EDISON OAKS APARTMENTS
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PROPERTY PHOTO
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EDISON OAKS APARTMENTS
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FINANCIAL
ANALYSIS
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FINANCIAL ANALYSIS
EDISON OAKS APARTMENTS
RENT ROLL SUMMARY
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FINANCIAL ANALYSIS
EDISON OAKS APARTMENTS
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RENT ROLL DETAIL
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FINANCIAL ANALYSIS
EDISON OAKS APARTMENTS
OPERATING STATEMENT
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FINANCIAL ANALYSIS
EDISON OAKS APARTMENTS
PRICING DETAIL
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MARCUS & MILLICHAP ADVANTAGE
MARCUS & MILLICHAP CAPITAL
CORPORATION CAPABILITIES
MMCC—our fully integrated, dedicated financing arm—is committed to
providing superior capital market expertise, precisely managed execution, and
unparalleled access to capital sources providing the most competitive rates and
terms.
We leverage our prominent capital market relationships with commercial banks,
life insurance companies, CMBS, private and public debt/equity funds, Fannie
Mae, Freddie Mac and HUD to provide our clients with the greatest range of
financing options.
Our dedicated, knowledgeable experts understand the challenges of financing
and work tirelessly to resolve all potential issues for the benefit of our clients.
Optimum financing solutions to
enhance value
Enhanced control through
investor qualification support
Enhanced control through
MMCC’s ability to qualify
investor finance contingencies
Enhanced control through
MMCC’s ability to monitor
investor/due diligence and
underwriting to ensure timely,
predictable closings
Enhanced control through quickly
identifying potential debt/equity
sources, processing, and closing
buyer’s finance alternatives
WHY MMCC?
National platform
operating
within the firm’s
brokerage offices
$ 7.18 billion
total national
volume in 2019
Access to more
capital sources
than any other
firm in the
industry
Closed 1,994
debt and equity
financings
in 2019
19
EDISON OAKS APARTMENTS
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EDISON OAKS APARTMENTS
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MARKET
COMPARABLES
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EDISON OAKS APARTMENTS
SALES COMPARABLES MAP
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EDISON OAKS APARTMENTS
(SUBJECT)
683 El Camino Ave
5500 Walnut Ave
656-670 Bowles St
2313 Villanova Circle
2755 El Caprice Drive
4050 Palm Ave
317 Pleasant Street
1044 Sonoma Ave
SALES COMPARABLES
1
2
3
4
5
7
8
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PROPERTY NAME
MARKETING TEAM
EDISON OAKS APARTMENTS
SALES COMPARABLES
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
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SALES COMPARABLES
Units Unit Type
Offering Price: $2,200,000 4 1 Bed 1 Bath
Price/Unit: $183,333 6 2 Bed 1 Bath
Price/SF: $232.80 2 3 Bed 2 Bath
CAP Rate: 4.81%
GRM: 13.02
Total No. of Units: 12
Year Built: 1973
Underwriting Criteria
Income $177,414 Expenses $71,580
NOI $105,834
EDISON OAKS APARTMENTS3405 Hidden Oak Ct, Sacramento, CA, 95821
1
Units Unit Type
Close Of Escrow: 8/23/2019 8 2 Bdr 1 Bath
Sales Price: $1,100,000
Price/Unit: $137,500
Price/SF: $204.61
CAP Rate: 6.39%
Total No. of Units: 8
Year Built: 1958
683 EL CAMINO AVE683 El Camino Ave, Sacramento, CA, 95815
Units Unit Type
Close Of Escrow: 6/24/2019 11 2 Bdr 1 Bath
Sales Price: $1,960,000
Price/Unit: $178,182
Price/SF: $196.75
CAP Rate: 4.37%
GRM: 12.64
Total No. of Units: 11
Year Built: 1964
2
5500 WALNUT AVE5500 Walnut Ave, Sacramento, CA, 95841
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PROPERTY NAME
MARKETING TEAM
EDISON OAKS APARTMENTS
SALES COMPARABLES
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
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SALES COMPARABLES
Units Unit Type
Close Of Escrow: 3/29/2019 12 3 Bdr 1 Bath
Sales Price: $1,692,000
Price/Unit: $141,000
Price/SF: $146.27
CAP Rate: 7.00%
Total No. of Units: 12
Year Built: 1959
3
656-670 BOWLES ST656-670 Bowles St, Sacramento, CA, 95815
4
Units Unit Type
Close Of Escrow: 11/25/2019 8 2 Bdr 1 Bath
Sales Price: $1,330,000
Price/Unit: $166,250
Price/SF: $212.36
CAP Rate: 5.38%
Total No. of Units: 8
Year Built: 1971
2313 VILLANOVA CIRCLE2313 Villanova Circle, Sacramento, CA, 95825
Units Unit Type
Close Of Escrow: 4/25/2019 4 1 Bdr 1 Bath
Sales Price: $1,580,000 8 2 Bdr 1 Bath
Price/Unit: $131,667
Price/SF: $148.08
CAP Rate: 6.80%
Total No. of Units: 12
Year Built: 1972
5
2755 EL CAPRICE DRIVE2755 El Caprice Drive , Rancho Cordova , CA, 95670
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PROPERTY NAME
MARKETING TEAM
EDISON OAKS APARTMENTS
SALES COMPARABLES
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
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SALES COMPARABLES
Units Unit Type
Close Of Escrow: 10/30/2019 8 2 Bdr 1 Bath
Sales Price: $1,076,305
Price/Unit: $134,538
Price/SF: $158.28
CAP Rate: 5.77%
Total No. of Units: 8
Year Built: 1964
6
4050 PALM AVE4050 Palm Ave, Sacramento, CA, 95842
7
Units Unit Type
Close Of Escrow: 11/22/2019 2 1 Bdr 1 Bath
Sales Price: $980,000 4 2 Bdr 1 Bath
Price/Unit: $163,333
Price/SF: $235.75
Total No. of Units: 6
Year Built: 1964
317 PLEASANT STREET317 Pleasant Street , Roseville, CA, 95678
Units Unit Type
Close Of Escrow: 1/15/2020 1 1 Bdr 1 Bath
Sales Price: $1,100,000 6 2 Bdr 1 Bath
Price/Unit: $157,143
Price/SF: $197.34
CAP Rate: 5.19%
Total No. of Units: 7
Year Built: 1965
8
1044 SONOMA AVE1044 Sonoma Ave, Sacramento, CA, 95815
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EDISON OAKS APARTMENTS
RENT COMPARABLES MAP
EDISON OAKS APARTMENTS
(SUBJECT)
3615 Morse Avenue
Casa Lido Apartments
Pope Cottages
Fairway Apartments
3701 Morse Ave
Citadel 29
4
7
8
9
11
20
12
14
15
16
17
13
18
10
4
1
2
3
5
6
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PROPERTY NAME
MARKETING TEAM
EDISON OAKS APARTMENTS
RENT COMPARABLES
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
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YEAR BUILT: 1973
rentpropertyname1rentpropertyaddress1
Unit Type Units SF Rent Rent/SF
1 Bed 1 Bath 4 650 $914 $1.41
2 Bed 1 Bath 6 825 $1,254 $1.52
3 Bed 2 Bath 2 950 $1,450 $1.53
Total/Avg. 12 788 $1,173 $1.49
EDISON OAKS APARTMENTS3405 Hidden Oak Ct, Sacramento, CA, 95821
YEAR BUILT: 1987
1
Unit Type Units SF Rent Rent/SF
2 Bdr 1 Bath 9 800-1,000$1,175-$1,395
$1.43
Total/Avg. 9 900 $1,285 $1.43
3615 MORSE AVENUE 3615 Morse Avenue, Sacramento, CA, 95821
2
YEAR BUILT: 1958
Unit Type Units SF Rent Rent/SF
1 Bdr 1 Bath 20 500 $890 $1.78
Total/Avg. 20 500 $890 $1.78
CASA LIDO APARTMENTS3425-3429 Edison Ave, Sacramento, CA, 95821
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PROPERTY NAME
MARKETING TEAM
EDISON OAKS APARTMENTS
RENT COMPARABLES
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
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YEAR BUILT: 1987
3
Unit Type Units SF Rent Rent/SF
1 Bdr 1 Bath 9 725 $1,100 $1.52
Total/Avg. 9 725 $1,100 $1.52
POPE COTTAGES 2810 Pope Ave, Sacramento, CA, 95821
YEAR BUILT: 1962
4
Unit Type Units SF Rent Rent/SF
1 Bdr 1 Bath 32 500 $950 $1.90
2 Bdr 1 Bath 4 850 $1,110 $1.31
Total/Avg. 36 539 $968 $1.80
FAIRWAY APARTMENTS3709-3711 Morse Ave, Sacramento, CA, 95821
5
YEAR BUILT: 1957
Unit Type Units SF Rent Rent/SF
2 Bdr 1 Bath 6 615 $1,050 $1.71
Total/Avg. 6 615 $1,050 $1.71
3701 MORSE AVE3701 Morse Ave, Sacramento, CA, 95821
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PROPERTY NAME
MARKETING TEAM
EDISON OAKS APARTMENTS
RENT COMPARABLES
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
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YEAR BUILT: 1968
6
Unit Type Units SF Rent Rent/SF
Studio 1 Bath 4 560 $995 $1.78
1 Bdr 1 Bath 76 660 $1,095 $1.66
2 Bdr 1 Bath 8 1,000 $1,300 $1.30
Total/Avg. 88 686 $1,109 $1.62
CITADEL 29 2929 Edison Ave, Sacramento, CA, 95821
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EDISON OAKS APARTMENTS
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MARKET
OVERVIEW
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EDISON OAKS APARTMENTS
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SACRAMENTO METRO AREA
Healthcare Services Provide Framework for Economic Growth;
Buyer Competition Pressures Asset Values
Collection of demand drivers prolong stretch of robust rent growth. Sacramento’s populace grew by
100,000 people over the past four years, drawn by the area’s comparatively lower cost of living. During 2020,
the metro continues to welcome a collection of new residents, many of whom will accept positions in the
expanding healthcare sector. This industry is delivering strong growth following the completion of several
large medical office buildings and the upcoming delivery of Centene’s 68-acre campus in Natomas, which will
employ up to 5,000 people. An additional campus for Kaiser Permanente is planned for the Railyards District,
an infill site that will also house a soccer stadium for Sacramento Republic FC. With economic expansion and
steady household growth on the horizon, an uptick in multifamily deliveries is warranted. Of the 1,400
completions slated for finalization this year, most are located in Sacramento or Folsom. New supply targeted
in areas with high rental demand will allow overall absorption of apartments to slightly outpace the metro’s
growing inventory. The resulting decline in unit availability will push up the average effective rent, with
Sacramento ranking as the top West Coast metro for rate growth in 2020.
Escalating rents and catalysts for economic expansion bolster investor confidence. Opportunities to
acquire properties of various sizes will attract a diverse buyer pool of in-state buyers this year. Those looking
to deploy less than $5 million per transaction target buildings in Sacramento’s downtown, where well-located
assets remain available at high-4 to 6 percent cap rates. Investors willing to place more capital will
concentrate on Arden/Arcade, Carmichael and other close-in suburbs, where sub-$150,000 per unit pricing
and 5 to 6 percent-plus first-year yields remain frequent. Properties in Folsom and other affluent suburbs are
coveted by investors as these areas are experiencing metro-leading rent growth, yet opportunities to acquire
complexes in these locales should remain sparse, driving asset values moving forward.
* Estimate; ** Forecast
Sources: Marcus & Millichap Research Services; BLS; CoStar Group, Inc.
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EDISON OAKS APARTMENTS
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SACRAMENTO METRO AREA
2020 Market Forecast
Health-related job creation remains strong as the overall hiring velocity with
11,000 jobs falls below last year’s 1.8 percent gain.
Delivery volume surpasses the 1,000-unit mark for a third consecutive
period, with roughly half of the apartments located in the city of Sacramento.
Net absorption eclipses 1,500 units in 2020, lowering metro vacancy to 3.1
percent amid an increase in supply additions.
The average effective rent rises at a rapid pace, reaching $1,582 per month.
Last year the average rent grew by 6.5 percent.
Owners that have executed recent value-add conversions in close-in
submarkets could reevaluate their portfolio as California’s new rent
regulation law could impact their current investment strategy.
* Estimate; ** Forecast
Sources: CoStar Group, Inc.; RealPage, Inc.; Real Capital Analytics
Employment
up 1.1%
Construction
1,400 units
Vacancy
down 10 bps
Rent
up 5.1%
Investment
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PROPERTY NAME
MARKETING TEAM
EDISON OAKS APARTMENTS
DEMOGRAPHICS
Source: © 2019 Experian
Created on September 2020
POPULATION 1 Miles 3 Miles 5 Miles
▪ 2025 Projection
Total Population 13,292 126,712 338,009
▪ 2020 Estimate
Total Population 13,322 125,490 334,710
▪ 2010 Census
Total Population 12,562 117,668 314,336
▪ 2000 Census
Total Population 12,432 119,974 316,274
▪ Daytime Population
2020 Estimate 11,606 155,021 374,479
HOUSEHOLDS 1 Miles 3 Miles 5 Miles
▪ 2025 Projection
Total Households 5,946 50,755 133,995
▪ 2020 Estimate
Total Households 5,923 50,163 132,339
Average (Mean) Household Size 2.23 2.47 2.49
▪ 2010 Census
Total Households 5,508 46,320 122,368
▪ 2000 Census
Total Households 5,342 48,521 126,045
Growth 2015-2020 0.39% 1.18% 1.25%
HOUSING UNITS 1 Miles 3 Miles 5 Miles
▪ Occupied Units
2025 Projection 5,946 50,755 133,995
2020 Estimate 6,382 52,835 137,176
Owner Occupied 2,051 20,928 63,124
Renter Occupied 3,871 29,235 69,215
Vacant 459 2,672 4,837
▪ Persons In Units
2020 Estimate Total Occupied Units 5,923 50,163 132,339
1 Person Units 38.60% 33.54% 32.10%
2 Person Units 30.58% 29.89% 30.76%
3 Person Units 13.78% 14.60% 14.87%
4 Person Units 9.03% 10.72% 11.12%
5 Person Units 4.61% 5.78% 5.68%
6+ Person Units 3.41% 5.47% 5.46%
HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles
▪ 2020 Estimate
$200,000 or More 2.82% 3.22% 5.79%
$150,000 - $199,000 5.09% 4.73% 5.52%
$100,000 - $149,000 9.65% 11.48% 13.27%
$75,000 - $99,999 9.48% 11.56% 12.22%
$50,000 - $74,999 13.94% 16.07% 17.10%
$35,000 - $49,999 13.25% 13.31% 12.78%
$25,000 - $34,999 13.16% 11.87% 9.94%
$15,000 - $24,999 13.97% 11.50% 9.88%
Under $15,000 18.66% 16.26% 13.49%
Average Household Income $62,342 $67,620 $81,369
Median Household Income $39,269 $46,597 $55,145
Per Capita Income $27,748 $27,219 $32,385
POPULATION PROFILE 1 Miles 3 Miles 5 Miles
▪ Population By Age
2020 Estimate Total Population 13,322 125,490 334,710
Under 20 22.55% 25.23% 24.88%
20 to 34 Years 21.02% 23.45% 23.09%
35 to 39 Years 7.03% 6.76% 6.54%
40 to 49 Years 12.17% 11.54% 11.40%
50 to 64 Years 20.85% 18.44% 18.44%
Age 65+ 16.37% 14.56% 15.68%
Median Age 39.55 35.91 36.48
▪ Population 25+ by Education Level
2020 Estimate Population Age 25+ 9,591 85,479 228,820
Elementary (0-8) 5.84% 5.39% 4.51%
Some High School (9-11) 8.86% 7.93% 7.15%
High School Graduate (12) 25.56% 26.24% 24.62%
Some College (13-15) 26.63% 26.34% 24.51%
Associate Degree Only 9.16% 8.90% 8.94%
Bachelors Degree Only 14.27% 15.24% 17.49%
Graduate Degree 8.00% 7.71% 10.57%
▪ Population by Gender
2020 Estimate Total Population 13,322 125,490 334,710
Male Population 47.91% 48.21% 48.21%
Female Population 52.09% 51.79% 51.79%
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Income
In 2019, the median household income for your selected geography is
$39,269, compare this to the US average which is currently $62,990.
The median household income for your area has changed by 20.46%
since 2000. It is estimated that the median household income in your
area will be $44,388 five years from now, which represents a change
of 13.04% from the current year.
The current year per capita income in your area is $27,748, compare
this to the US average, which is $34,935. The current year average
household income in your area is $62,342, compare this to the US
average which is $90,941.
Population
In 2019, the population in your selected geography is 13,322. The
population has changed by 7.16% since 2000. It is estimated that the
population in your area will be 13,292.00 five years from now, which
represents a change of -0.23% from the current year. The current
population is 47.91% male and 52.09% female. The median age of the
population in your area is 39.55, compare this to the US average
which is 38.21. The population density in your area is 4,235.47 people
per square mile.
Households
There are currently 5,923 households in your selected geography. The
number of households has changed by 10.88% since 2000. It is
estimated that the number of households in your area will be 5,946
five years from now, which represents a change of 0.39% from the
current year. The average household size in your area is 2.23
persons.
Employment
In 2019, there are 5,037 employees in your selected area, this is also
known as the daytime population. The 2000 Census revealed that
59.16% of employees are employed in white-collar occupations in this
geography, and 40.21% are employed in blue-collar occupations. In
2019, unemployment in this area is 6.53%. In 2000, the average time
traveled to work was 29.00 minutes.
Race and Ethnicity
The current year racial makeup of your selected area is as follows:
60.85% White, 11.12% Black, 1.07% Native American and 5.31%
Asian/Pacific Islander. Compare these to US averages which are:
69.84% White, 12.88% Black, 0.20% Native American and 5.75%
Asian/Pacific Islander. People of Hispanic origin are counted
independently of race.
People of Hispanic origin make up 25.35% of the current year
population in your selected area. Compare this to the US average of
18.38%.
PROPERTY NAME
MARKETING TEAM
EDISON OAKS APARTMENTS
Housing
The median housing value in your area was $292,954 in 2019,
compare this to the US average of $221,068. In 2000, there were
2,200 owner occupied housing units in your area and there were 3,142
renter occupied housing units in your area. The median rent at the
time was $479.
Source: © 2019 Experian
DEMOGRAPHICS
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EDISON OAKS APARTMENTS
DEMOGRAPHICS
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