Cottage Estates - A 152 Unit Affordable Housing Opportunity
Sacramento CA - 152 Unit MF Affordable Community - $158k/Unit
Marketing description
Cottage Estates presents the opportunity to acquire a well-located multifamily community in Sacramento's established Arden-Arcade submarket. Located at 2900 Channel Court, the Property benefits from a highly desirable central infill location with convenient access to major employment centers, regional transportation corridors, healthcare institutions, retail amenities, and recreational destinations.
The Property is situated within one of Sacramento County's most supply-constrained residential corridors, where limited remaining development sites and continued population growth support long-term housing demand fundamentals. The surrounding neighborhood provides immediate access to Interstate 80, Business 80, and Highway 50, offering strong connectivity throughout the Sacramento metropolitan area.
Cottage Estates offers investors a compelling combination of stable in-place operations, long-term affordable housing demand, and future repositioning flexibility.
Cottage Estates is subject to existing affordability restrictions through both a Sacramento Housing & Redevelopment Agency ("SHRA") HOME Regulatory Agreement and a California Tax Credit Allocation Committee ("CTCAC") Low-Income Housing Tax Credit ("LIHTC") Regulatory Agreement. A summary of the agreements is found in the Property Description section of the Offering Memorandum.
Investment highlights
- Current in-place rents are approximately 8.3% below current published CTCAC maximum allowable rents, providing potential future rental growth opportunity subject to applicable regulatory restrictions, utility allowances, and annual agency-published rent limits.
- Central Sacramento infill location within the Arden-Arcade submarket
- Opportunity Zone designation providing potential tax advantages for qualified investors
- Proximity to Kaiser Permanente Sacramento Medical Center and major regional employment nodes
- Immediate access to major retail corridors, recreation amenities, and transportation infrastructure
- Located within a high-demand affordable and workforce housing market
- Limited competing multifamily development sites within the surrounding infill corridor
- Strong affordable housing fundamentals supported by renter cost burden and housing supply shortages
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