Multifamily Community in North
For Sale
$16,500,000
5520 Generals Pl, North Highlands, CA 95660
106-unit multifamily community with recent renovations and assumable debt.
Property Size81,134 SF
Lot Size3.57 Acres
Price / SF$203.37
Days on Market145
Property Features for 5520 Generals Pl
General Information
Standard status
Active
Size
81,134 SF
Lot size
3.57 Acres
Property subtype
Multifamily
Occupancy
95%
Amenities
Enviable Loan Assumption Available - Existing Fannie Mae Debt can assumed with roughly 5 years remaining fixed at 3.68% P/I payments with a loan balance of approximately 62LTV.
McClellan Business Park Adjacency - Redeveloped former Air Force base next door provides a built-in employment hub, supporting strong occupancy and reduced vacancy risk.
Sacramento Metro Growth - Located in California's 4th largest metro, North Highlands benefits from persistent housing demand that continues to outpace supply, driving rent growth.
Building Details
Units
106
Listing Agency:
Marcus & Millichap - Sacramento
Listed By:
Tony DeLoney · License #License(s): CA: 01920427
(916) 724-1363
Source:
Marcusmillichap
Added: May 27
Changed: Oct 6
Last Checked: Oct 16 at 5:50AM
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
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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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$1,082,985
Cap Rate
6.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$21,659,700
$21.7M
Cap Rate 7%
$15,471,214
$15.5M
Cap Rate 9%
$12,033,167
$12.0M
Market Conditions
NOI Build-Up for 81,134 SF
Gross rent
$2.11M $26.04/SF
− Vacancy
−$143.7K −$1.77/SF
EGI
$1.97M $24.27/SF
− OpEx
−$886.1K −$10.92/SF
NOI
$1.08M $13.35/SF
Area
Sacramento County, CA
Vacancy
6.80%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$21,659,700
Cap Rate 7%
$15,471,214
Cap Rate 9%
$12,033,167
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 authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
806
Businesses Nearby
Explore this area
Business Placement
Demographics for 95660, CA
35,368
Population
11,433
Households
3.1
Avg Household Size
34
Median Age
11%
College-Educated
80%
High-School Grad
6.4 sq mi
ZIP Area
5,526
Density / Sq Mi
$66,957
Median Household Income
$36,426
Median Earnings
$1,650
Median Rent
$330,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
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.
