2720 Forrest St Sacramento, CA 95815

This exceptional 6-unit apartment building, located at 2720 Forrest Street in Sacramento, California, presents a compelling investment opportunity. The property boasts 3,155 square feet on a 0.47-acre lot, with a desirable R-1 zoning. Built in 1958, this single-story complex features six one-bedroom units, five of which have been recently updated with new countertops, bathroom vanities, kitchen and dining area tile, and carpeting in the living room and bedroom. Each unit includes a walk-in closet and ceiling fan, with gas stoves and electric appliances. The property also includes a large vacant lot, presenting potential for an Accessory Dwelling Unit (ADU) development to increase the unit count. A new wood fence and gate enhance the property's curb appeal. Off-street parking is provided, and on-site laundry is available. Currently operating at 100% occupancy, the property generates a substantial net operating income (NOI) of $52,673, representing a 6.35% cap rate. The asking price is $829,000, or $138,167 per unit. This property is situated in a thriving North Sacramento neighborhood, offering easy access to a variety of amenities, including restaurants, shops, parks, and major transportation routes. The strong rental market and potential for ADU development make this a highly attractive investment prospect. The property's current heating system is wall/heat air, and a new owner may wish to consider implementing a Ratio Utility Billing System (RUBS) for common area charges (sewer, water, garbage, and heating of the master water heater).