5921 Belleview Ave Sacramento, CA 95824-2182

Property Details for 5921 Belleview Ave

Year built

1989

Construction

WOOD

Lot size

0.63 lot acres

Property size

6,530 SF

Zone code

R-1

Property type

Garden apartment buildings

APN

027-0313-002-0000

APU

2703130020000

Description

This exceptional investment opportunity presents ten single-family homes situated on two parcels at 5921-5931 Belleview Ave, Sacramento, CA 95824. Built between 1991 and 1992, each unit offers three bedrooms and one and a half bathrooms, complemented by private fenced yards and single-car garages. Modern amenities include central air conditioning, gas heating, and individual gas and electric metering. The property boasts a total of 13,060 square feet, with 30 parking spaces. Currently operating at 100% occupancy, the property generates a Net Operating Income (NOI) of $149,247, with a pro-forma NOI projected at $188,805, resulting in a pro-forma cap rate of 6.30%. The asking price is $2,995,000, translating to $299,500 per unit and $229.33 per square foot. Zoned R-1, this property presents a compelling value-add opportunity. Recent updates to approximately half of the units, coupled with a recent rental of $2300, establishes a strong foundation for future income growth. The potential for individual water metering and condo-mapping further enhances the long-term investment potential. This property is offered as a 1031 exchange opportunity. Located in a desirable South Sacramento neighborhood, this portfolio offers a blend of immediate cash flow and significant upside potential. The property is comprised of ten units, each with washer/dryer hookups.

Location Insight

City

Sacramento

County

Sacramento

State

California

Longitude

-121.419

Latitude

38.5194

CBSA code

40900

CBSA name

SACRAMENTO--ARDEN-ARCADE--ROSEVILLE, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments