Across the street from the new Folsom Lake College Extension.
If you have been looking for a small apartment complex with “upside” I think you might have found it here.
This one has a mix of (8) 2 bedroom 1 bath & (4) 1 bedroom 1 bath apartment units. All have dishwashers, gas stoves, patios/decks, central heat/air and lots of off street parking. I do have an estimate for “covered parking” to be installed, which I think would be a big improvement and allow for an increase in rental rates.
The Owners have recently painted the exterior, made updates to the roof, replaced the site’s water heater and completed a lot of dry rot and satisfied all of the City of Rancho Cordova code enforcement issues.
The tenant profile has been upgraded as well.
You can also get a copy of the Cash Flow Figures here.
If you take a drive to see this you’ll see that the college is almost done. They are putting in the landscaping and the parking lot across the street is just about completed as well.
You’ll also notice a pretty good sized open area that has some additional potential and is part of the “Mather Mills Opporunity Site”. The Twin Pines Apartments are across the street as you can see in the aerial shot that is bounded by yellow. Click on the link below to get more information.
If you have any questions regards this Apartment Complex or any other apartments, duplexes or four-plexes for sale, contact me anytime at: 916-203-1260, firstname.lastname@example.org
In the mean time…?
Make it a Great Day…!