2281 Hurley Way Sacramento, CA 95825-2368

Property Details for 2281 Hurley Way

Year built

1977

Construction

WOOD

Lot size

0.70 lot acres

Property size

12,804 SF

Zone code

RD-30

Property type

Apartment buildings

APN

285-0140-043-0000

APU

28501400430000

Description

This exceptional 18-unit apartment building in Sacramento, CA presents a compelling investment opportunity. Located at 2281 Hurley Way, this two-story, 12,720 square foot property sits on a 0.7-acre lot and boasts a desirable unit mix: twelve one-bedroom/one-bathroom, four two-bedroom/two-bathroom, and two two-bedroom/one-bathroom units. Fifteen of the eighteen units have undergone recent renovations, including new flooring, paint, and updated kitchens and bathrooms. A completely remodeled laundry facility adds further value. The property features central heating and air conditioning, a secured gated entrance, and large private backyards. Built in 1977, this property benefits from assumable financing and a strong NOI of $163,706, resulting in a 5.69% cap rate. The property's location in the Arden/Arcade submarket offers convenient access to schools, shopping (Arden Fair Mall, Howe Bout Arden), employment centers, and the American River's walking and biking paths. Proximity to major thoroughfares (Howe Avenue, Fulton Avenue) and freeways (Business-80 and Highway 50) ensures excellent accessibility to the greater Sacramento area. Potential for increased revenue exists through rent increases, completing renovations on the remaining three units, and implementing a Ratio Utility Billing System (RUBS). The property is zoned RD-30. The asking price is $2,879,000, with a price per unit of $159,944.44 and a price per square foot of $226.34. The APN is 285-0140-043.