Laguna Miral
125-Unit Fully Entitled Market-Rate Multifamily Site | No BMR | No Retail | Elk Grove / Sacramento
Marketing description
First Commercial Real Estate is pleased to present Laguna Miral, a fully entitled 125-unit market-rate multifamily development site at 8740 Bruceville Road in Sacramento/Elk Grove, California. The project carries full Design Review approval with no BMR requirement, no retail component, and no remaining discretionary approvals. Located at the Sacramento/Elk Grove border with direct Highway 99 access and walkable proximity to nearly 1.5 million SF of anchored retail, Laguna Miral offers an investor/developer a rare combination of entitled density, 100% market-rate revenue, and a supply-constrained submarket with 97% retail occupancy and strong renter demand driven by Kaiser Permanente's 782,000 SF medical complex 5 minutes away.
Investment highlights
Fully entitled — no further discretionary approvals required
125 market-rate units, zero BMR set-aside
Entitlement valid through January 30, 2028
Type V-B wood frame — lowest-cost construction type
100% surface parking — no structured parking cost
Kaiser Permanente Bruceville 5 min away (782K SF, 1,000+ professionals)
97% retail occupancy in Elk Grove submarket
Adjacent to 1.5M SF of anchored retail within ½ mile
Highway 99 direct access — 10 min to downtown Sacramento
Light rail IOD on frontage — future transit connectivity
No retail component — clean residential-only entitlement
Strong submarket fundamentals: $2,000–$2,700/mo new construction rents
186K+ population, growing faster than California average
Architect: Todd Jersey Architecture
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