Multifamily Community in North
5520 Generals Pl North Highlands, CA 95660
5520 Generals Pl, North Highlands, CA, 95660
$16,500,000
For Sale
$16,500,000
106-unit multifamily community with recent renovations and assumable debt.
Property Size81,134 SF
Lot Size3.57 Acres
Price / SF$203.37
Days on Market57
Property Features for 5520 Generals Pl
General Information
- Standard status
- Active
- Size
- 81,134 SF
- Lot size
- 3.57 Acres
- Property subtype
- Multifamily
Listing agency
Marcus & Millichap Real Estate
(916) 724-1363
Listed by
Tony DeLoney · License #License(s): CA: 01920427
(916) 724-1363
Source
Marcusmillichap
Added: May 27 Updated: Jul 10 at 1:42PM Checked: Jul 21 at 9:37AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap Real Estate
Investment Insights
Based on property information with market context.
The Ridge at McClellan is a 106-unit multifamily community located at 5520 Generals Place in North Highlands, California. Constructed in 1960, this two-story property encompasses approximately 81,134 square feet on a 3.57-acre lot. The property is situated in a Sacramento County suburban submarket, minutes from I-80, shopping, and schools. Its location is advantageous for commuters traveling to Sacramento. Residents benefit from the property's proximity to American River College and Sacramento State, supporting a broad and stable renter base. The surrounding North Highlands neighborhood is located 10 miles from Downtown Sacramento, characterized by quiet streets, single-family homes, and access to restaurants and retail. The former McClellan Air Force Base has been redeveloped into a commercial park, bringing economic activity and community events to the area. The property has undergone renovations, including the installation of double pane windows throughout, LVP flooring, and granite countertops in all units. The property has assumable in-place debt, fixed at 3.7% until 2031. The payments recently switched from interest-only to principal and interest payments. At approximately 62LTV the debt is truly accretive to value.
Key Highlights
- Assumable in‑place debt fixed at an attractive 3.7% until 2031.
- Recent transformative renovations include double pane windows, LVP flooring, and granite countertops in all units.
- Convenient location minutes from I‑80, shopping, and schools.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $2.11M | $26.04 |
| − Vacancy | −$143.7k | −$1.77 |
| EGI | $1.97M | $24.27 |
| − OpEx | −$886.1k | −$10.92 |
| NOI | $1.08M | $13.35 |
81,134 SF · lease $26.04/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$15.47M
$13.54M – $18.05M
NOI $1,082,985 @ 7.0% cap · market cap 6.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$21.61M
$18.91M – $25.22M
NOI $1,513,010 @ 7.0% cap · market cap 9.17%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
The Ridge at McClellan Apartments
Real Estate Agency
Ridge At Mc Clellan
Apartment Building
Omega Court Apartments
Apartment Building
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FAQs
What type of property is this?
Apartment building - 106-unit multifamily community with recent renovations and assumable debt.
Where is this apartment building located?
The property is located at 5520 Generals Pl North Highlands, CA.
What is the asking price?
The asking price for this property is $16,500,000.
What are key features of this property?
This property features: Assumable in‑place debt fixed at an attractive 3.7% until 2031.; Recent transformative renovations include double pane windows, LVP flooring, and granite countertops in all units.; Convenient location minutes from I‑80, shopping, and schools.
