691 El Camino Avenue, Sacramento, CA 95815

Property Description

691 El Camino Ave., Sacramento is an 8 unit in the heart of the rejuvenated North Sacramento market. This small gated apartment complex is comprised of all 1 bedroom with 1 bath units approximately 540 SF with an onsite laundry facility. The units are separately metered for electrical and gas. The units also feature dual pane windows, wall heating & air, updated appliances (varies), along with one (1) central water heater. Four (4) of the unit interiors were upgraded with paint, appliances, and flooring. The exterior was also improved with a modernized paint pallet with light fixtures. Many of the leases are well below market with an average rental rate of $1,043. A recently rented unit leased for $1,214 signifying that there's a loss-to-lease rent of approximately $16,416 if all the units were paying the new rental rate. Furthermore, there are two vacant units that can be leased at market rate. Plus, the ownership recently implemented RUBS on the new leases to help offset utility costs.