3100 Jersey Way

Del Paso Manor Neighborhood

3100 Jersey Way

Region: Arden-Arcade
Use: Multifamily
Lease or Sale: Sale
Building Size: ±16,600 SF
Sale Price: $4,300,000

3100 Jersey Way is a 23-unit “value-add” apartment building located in the Del Paso Manor neighborhood of Sacramento. The Property features 6 two-bed and one-bath units, 16 one-bed and one-bath units, and 1 studio unit with an average unit size of 720 square feet. Six of the units have been renovated within the last year and are now leased at an average rent of $1,525 per month. The remaining 17 units are original and leased at a below-market average rent of $925 per month, which is approximately $600 per month less than the renovated units. An investor can realize significant upside through renovating and leasing the remaining original units as they become vacant, as established by the in-progress value-add plan. The Property has new electric subpanels in every unit, dual pane windows throughout, new wood exterior siding, and recent exterior paint. The Building surrounds a beautiful common swimming pool and clubhouse with workout equipment, and a large parking area with covered and garage stalls. The Property is being offered at $4,300,000 or $187,000 per door.

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