2671 Rio Linda BlvdSacramento, CA 95815

Property Details for 2671 Rio Linda Blvd

Lot size

0.45 AC

Zone code

R-3

Property type

Apartment buildings

APN

265-0241-032-0000

APU

26502410320000

Description

This exceptional investment opportunity presents a 66-unit senior apartment building located at 2671 Rio Linda Blvd, Sacramento, CA 95815. The property, built in 1970 and renovated in 2009, boasts 47,152 net rentable square feet across three stories within a single building situated on a 2.24-acre lot. Currently operating as a Class C multifamily property, it offers a compelling value-add opportunity. The asking price is $5,600,000, translating to $84,848 per unit and a current cap rate of 5.02%. A significant aspect of this investment is the $3 million in assumable soft debt at a 4.00% interest rate. The property's current NOI is $281,183, but a pro-forma NOI of $592,319 is projected based on the maximum allowable rents under the Tenant-Based Rental Assistance Program (TCAC). This translates to a pro-forma cap rate of 10.58%. The property is designated as a Senior LIHTC (Low-Income Housing Tax Credit) property. Further details and due diligence materials are available online.

• CAP approach

  CAP return

  Valuation

  6%

  $4,079,481

  6.5%

  $3,765,674

  7%

  $3,496,698

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,381,918

  Geo Method

  $4,381,918

• Alternative Use

  Use

  Valuation

  Residential

  $3,765,674

  Hospitality

  $3,449,338

  Educational

  $2,869,808

  Medical

  $2,968,506

  Retail

  $4,464,146

Location Insight

City

Sacramento

County

Sacramento

State

California

Latitude

38.6157

Longitude

-121.448

CBSA code

40900

CBSA name

SACRAMENTO--ARDEN-ARCADE--ROSEVILLE, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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