3341 Cimmarron Rd Cameron Park, CA 95682

Property Details for 3341 Cimmarron Rd

Year built

1984

Lot size

0.41 lot acres

Property size

7,000 SF

Property type

Commercial real estate

APN

116-312-008-000

Description

This exceptional 8-unit apartment building presents a compelling investment opportunity in the highly desirable Cameron Park, CA community (zip code 95682). Situated on a 0.41-acre lot, this stabilized multifamily property boasts a total of 7,000 square feet, with 6,400 square feet of net rentable space. The property comprises two, two-story buildings constructed in 1984 and extensively renovated in 2023, featuring over $80,000 in recent capital improvements focused primarily on balcony upgrades. Six of the eight units have undergone full renovations, including new flooring and appliances. Ground floor units enjoy large, privately fenced backyards. All units are currently 100% occupied and benefit from central HVAC systems. The property offers a current NOI of $96,651, representing a 4.80% cap rate, with a pro-forma NOI of $110,804 and a pro-forma cap rate of 5.50%. The asking price is $2,008,000, translating to $251,000 per unit and $314 per square foot. The property's location near award-winning schools and convenient amenities, coupled with below-market rents offering significant upside potential, makes this a truly attractive investment. The updated laundry room and attractive landscaping further enhance the property's appeal. Cameron Park's strong rental market, with vacancy rates below 4%, and its proximity to Sacramento (35 minutes away) contribute to the property's long-term viability. The property's Class C designation reflects its current condition and potential for further value appreciation. The APN is 116-312-008-000. This turnkey investment offers immediate cash flow and substantial growth opportunities.