5959 VAN ALSTINE AVERMICHAEL Carmichael CA 95608

Property History

Property Type

Multifamily

Property Subtype

Apartment Building

Marketing Description

As the exclusive agent, Gallelli Real Estate is pleased to present the sale of Vista Torre, a completely renovated 79 unit luxury apartment home community consisting of four, five story, elevator served towers in Carmichael, California, one of the top performing multifamily submarkets in the Sacramento region and one of the top multifamily markets in the nation.

Investment Highlights

Majority of new lease rates during the first half of 2020 have increased between $100 and $300 per month
Located in highly affluent neighborhood with homes averaging $810,000
Excellent location within walking distance of numerous outdoor recreational areas and retail amenities
Strong submarket fundamentals with high barriers to entry
Sacramento rents have increased 3.9% in the first half of 2020 despite the impact of Covid-19
Sacramento market is the number 4 market in the Nation for rent growth in the last year
No current or scheduled new construction within the submarket
Excellent unit mix with forty 2 bedroom units and thirty-nine 3 bedroom units with all 79 units having two full bathrooms
Extensively renovated property providing like new construction
Delivered free and clear of existing debt allowing the new purchaser to take advantage of today’s historically low interest rates

Loan History

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Financial History

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Tax History

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Contact Information

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