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3100 Jersey Way, Sacramento, CA 95821
$3,885,000
3100 Jersey Way, Sacramento, CA 95821View this property at 3100 Jersey Way, Sacramento, CA 95821
3100 Jersey WaySacramentoCA95821
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Property Description
3100 Jersey Way is a 23 unit value-add multifamily investment opportunity in the Del Paso Manor neighborhood of Sacramento. The property is comprised of 6 two-bedroom and one-bathroom units, 16 one-bedroom and one-bathroom units, and one studio unit with an average size of approx. 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 approx. $600 per month less than the identical renovated units. Realize significant upside by renovating and leasing original units as they become vacant; continue with the in progress and validated value-add plan to push cap rate close to 7%. New electrical subpanels in every unit, dual-pane windows throughout, newer membrane roof, new exterior wood siding, and recent exterior paint. Building has a beautiful common pool and adjacent clubhouse with workout equipment and coin-operated laundry room. Plenty of on-site parking, including an unused two-car garage, and additional leased storage on-site. The Property is being offered at $4,300,000 ($187,000 per door) which represents a 4.48% capitalization rate on existing income and expenses.
Full Property Details
Full Property Details for 3100 Jersey Way
General
- Sold For: $3,885,000
- Status: Closed
- Type: Multi-Family
- MLS ID: 223095423
- Added to Site: 239 day(s) ago
Interior
- Appliances: Built-In Electric Range, Dishwasher
- Flooring: Carpet, Vinyl
Rooms
Other Rooms
- Laundry: In Common Area
Additional Information
- Security/Safety: Security Fence, Other
Exterior
- Deck/Patio: Balcony/Deck, Enclosed Deck, Enclosed Patio
Parking
- Carport Spaces: 3
- Parking Features: Open, Carport, Street, Uncovered
- Parking: Open, Carport, Street, Uncovered
Location
- County: Sacramento
- Cross Streets: Morse
- Driving Directions: Located near the corner of Morse and El Camino.
School Information
- School District: Sacramento
- Elementary School: Sacramento Unified
- Middle School: Sacramento Unified
- High School: Sacramento Unified
Heating & Cooling
- Cooling Type: Central
- Heating Type: Central
Structural Information
- Architectural Style: Other
- Construction: Wood
- Roof: Flat
- Stories/Levels: 2
- Year Built: 1968
Unit Information
- 1 Bedroom Units: 16
- 2 Bedroom Units: 6
Unit 1
- Bedrooms: 1
Lot Features
- Lot Size (Acres): 0.689
- Lot Size (Sq. Ft.): 30,013
- Zoning: RD-30-Multifamily
Financial Considerations
- Price Per Sq. Ft.: $234.04
- Price Per Acre: $5,638,606.68
- Terms: 1031 Exchange, Cash, Conventional
Disclosures and Reports
- Buyer’s Brokerage Compensation: 2%
Listed and Sold by Ken Turton, Broker
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Schools
Schools serving 3100 Jersey Way
School District:San Juan Unified School District
Rating | Name | Grades | Distance |
---|---|---|---|
2221 Morse Ave, Sacramento, CA 95825 | K-5 | 0.4 mi | |
1400 Bell St, Sacramento, CA 95825 | 6-12 | 1.5 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 3100 Jersey Way
Date
Details
Price
Change
Source
12/29/2023
Sold
$3,885,000
-9.65%
MLS
10/04/2023
Listed
$4,300,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
3100 Jersey Way, Sacramento, CA 95821 (MLS# 223095423) is a Multi-Family property that was sold at $3,885,000 on December 29, 2023. Want to learn more about 3100 Jersey Way? Do you have questions about finding other Multi-Family real estate for sale in Sacramento? You can browse all Sacramento real estate or contact a Coldwell Banker agent to request more information.