Twin Pines Apartments – Rancho Cordova – Twelve Units – A Sleeper Investment

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 el caprice #1updates 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.

CLICK HERE TO GET A SLIDE SHOW OF PICTURES THAT INCLUDE THE COLLEGE ACROSS THE STREET

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.

el caprice aerial view

 

The Mather Mills Opportunity Site

 

 

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, favinger@rwnetwork.com

In the mean time…?

Make it a Great Day…!

 

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A Duplex Just On the Market and Another Multiple Offer Situation…!

This one got 7 offers in less than a week…!

We placed the Duplex at 7983-7985 Marsala Court on the market in the middle of last week and as of today we have had 7 offers and the phone is still ringing.

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This is the 3rd Duplex I’ve placed on the market within the last 30 days.   One of the threads that has been consistent in these situations is that these Duplexes all had a decent enough income to give a cash and had Pride of Ownership to go with it.

For a copy of the cash flow figures of this Duplex Click Here.

The Sellers  just accepted an all cash offer that was well over the list price and we’re now moving forward with the “due diligence” period and we’ll see what develops on the way to the closing.

If you are thinking of buying a Duplex or a Four Plex in the Sacramento Region or you are thinking of Selling, give me a call.

There are still great deals out there if you are a buyer and if you are tired of being a landlord, now might be the time to think about Selling.

 

In the Mean Time…?

Make it a Great Day….!

Ed Favinger, Broker, CRS, GRI, SFR CDPE   

A Roseville Duplex For Sale – A Total Remodel…!!!

And it cash flows too…!

For those of you looking for a Real Estate Investment property that doesn’t need a lot of work because of “deferred” maintenance, then you might want to consider this property.

116 Hickory Drive in Roseville has had a big time make over.    We are currently renting up the units at $1,200 per month and have one pending application now.

Click Here for a copy of the Proforma Cash Flow Analysis.   We are currently marketing it to tenants with them paying for the Water, Sewer and Garbage.   The cash flow figures however show the owner paying for this along with Property Management and Landscape Maintenance.

If you want to schedule and appointment to see this property please call me at 916-203-1260.

In the Mean Time…?

Make it a Great Day..!

 

Ed Favinger, Broker, CRS, GRI, SFR, CDPE     favinger@rwnetwork.com   916-203-1260

 

A HomeSteps Bank Owned Duplex in the Rosemont Area – Just On the Market.

Priced Well Below Some Recent Sales Just Around The Corner

While lately there hasn’t been much in the way of Duplex inventory come on the market, when they do, I get out there as soon as possible to see what kind of condition it’s in.

target=”_blank”>click on the picture to see the video

This one located at 9647-9649 Arlisson Drive, Sacramento, 95827 sits among other Duplex properties and has a great location near some shopping and Hwy 50 access.   It has a 3bed/2ba/2car and a 2bed/2ba/1car configuration.

This one is perfect for an “owner occupied” situation where the owner lives in one side and rents the other.  I think if you were a young person starting out,  it would be real smart to rent out the 3 bedroom side and live in the 2 bedroom side of this Duplex.   However the figures I have below fit the scenario that the 2 bedroom side would be rented and the 3 bedroom side would be occupied by the owner.

Click Here to see how cheap you could live in this Duplex for such a small down payment using an FHA loan

If you are an Investor, you’ll have to wait about 15 days til approximately January 17th before you’ll be able to make a run at it,  because they are offering this property to “owner occupied” folks first.   After that… then the investors get a shot if it’s not sold by then to a Buyer that wants to live there.

Click Here to see the “pro-forma” cash flow analysis if you were to purchase this as an Investment Rental.

By the way… Click on the picture to get a Walk Through Video I did today around 11:30 or so today

In the mean time…?

Make it a Great Day…!

Ed Favinger, Broker CRS, GRI, SFR, CDPE       916-203-1260     favinger@rwnetwork.com

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A Couple of Unique Bank Owned Homes in Folsom

One Is “Rent Ready” if You’re An Investor – The Other Needs a Little “TLC”.

I”ve been out and about more these days, since the local weather here has been so great, looking at a lot of homes.   I’ve got a couple here that are interesting.

Some features they both have in common are they are both located near parks, open space and the trail systems which are all over the City of Folsom.

The 1st one is located at 1176 Grey Fox Court, in “The Parkway”  and is priced at $310,000.   As of today, January 5th it still shows as an “Active” listing.   Located on a Cul-De-Sac, it’s just a few doors away from the Parkway Trail system and Nature Preserve.

Video is below

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The 2nd one is located in the Ridgeview neighborhood at 726 Hunter Place.   It’s got a nice corner lot orientation with some privacy that  includes almost 2,600 sq ft ,  4 bedroom 3 full baths, pool and spa.  Priced at $399,900 it’s also located just a few steps away from the neighborhood park and bike trails.

Video is below

Let me know what you think…

In the Mean Time…?

Make it a Great Day..!!

Ed Favinger, Broker, CRS, GRI, SFR, CDPE       favinger@rwnetwork.com    916-203-1260

 

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