661 Walnut Street | 7 Units

We are pleased to present 661 Walnut Street, a 7-unit multifamily community located in heart of West Sacramento.  The subject property is situated on 0.5 acres with 3,730 rentable square feet with five-1bedroom and two-2bedroom units.  The complex consists of two single story buildings with open parking and constructed in 1972.    

Each unit has forced wall heat and air plus individual gas water heaters.  The stoves are gas as well with all other appliances being electric.  In addition, several of the units include washer/dryer hookups.  Tenants are responsible for utilities within their living space, however, a new owner should consider implementing a Ratio Utility Billing System (RUBS).  This would bill a portion of the common area charges (sewer, water, garbage) to the residents which is more common now in California with charges ranging between $25-75 per unit on top of the monthly rent.

This community is in a strong infill location of West Sacramento where workforce housing is in strong demand.  Residents have quick access to all things that make the Sacramento Metro desirable to locals and those migrating to the region from the Bay Area or Southern California.  From this complex you can quickly access Interstate-80 which allows you to traverse throughout the entire Northern California region.  In addition, West Capitol Avenue provides quick access to Downtown Sacramento with a under a 2.8-mile drive to the Golden 1 Center.  West Sacramento is one of the top four employment centers in the region and has been one of the traditional industrial centers in the area since the Gold Rush era.  Also, proximity to Raley Field, the Sacramento River, and Old Town Sacramento assures residents have entertainment, dining, and nightlife activities to enjoy. 

A new investor will find strong demand for housing along with continued population and job growth provides long-term stability for housing in the area. At this complex there is upside in the cash flow based on the loss to lease and resetting rents to market upon turnover.     

Please call the brokers for more information.