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Multifamily Community in North Highlands

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

AddedMay 27

Days on Market51

Last RefreshJul 16 at 12:33 pm

Property Features for 5520 Generals Pl

General Information

Standard status: Active
Size: 81,134 SF
Lot size: 3.57 Acres
Property subtype: Multifamily

Listing office Marcus & Millichap | Sacramento

Listing date May 27, 2026

Source Marcusmillichap

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 | Sacramento

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

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 (±1% cap)

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 (±1% cap)

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

Suggested Use

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For sale
Apartment buildings
CA
North Highlands
95660
5520 Generals Pl

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.