10335 White Rock Rd

Hwy 50 Corridor

10335 White Rock Rd

Region: Highway 50 Corridor
Use: Multifamily
Lease or Sale: Sale
Building Size: ±30,000 SF
Sale Price: $5,490,000

The Subject Property is a well-appointed, recently renovated two-story mid-rise project comprised of an attractive unit mix of nine 1-bedroom/1-bathroom apartment units, 20 2-bedroom/1-bathroom units, and one 3-bedroom/1-bathroom unit. These features are complimented by cost-efficient landscaping, community washer/dryers, and ample parking with development potential. As tenants have vacated, all apartments have been remodeled throughout and boast fine finishes.

In addition to a consolidated design, 10335 White Rock Road is very well located for any tenant desiring to live in Rancho Cordova. Prominently positioned on a 1.1 AC parcel on White Rock Road adjacent to Folsom Boulevard, the Subject Property is within easy walking distance to an eclectic combination of over 20 Rancho Cordova eateries, coffee shops, amenities, and watering holes.

10335 White Rock Road is being offered at a price of $5,490,000 based on in-place net operating income of $282,601 inclusive of pro-forma property taxes, resulting in a reliable 5.15% unleveraged yield to the prudent investor in year one. Comparable market rent for like property indicate rents may be 10% below market. In addition, owner is currently not charging any R.U.B.S. to tenants, presenting an additional income opportunity in congruence with gradual rent increases. There is also a development opportunity in the rear portion of the property where the future owner could construct additional units, a pool, or a community center.

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