COLLIERS INTERNATIONAL 301 University Ave, Suite 100 Sacramento, CA 95825 www.colliers.com FOR SALE | 48 UNIT APARTMENT COMPLEX Tuolumne Meadows Apartments 9130 TUOLUMNE DRIVE | SACRAMENTO, CA 95826 BRIAN NELSON Senior Vice President License # 01009543 +1 916 830 2576 [email protected]Property Summary Units 48 Yr. Built 1970 Metering Individual Parking 52 Open Spaces Average SF 780 Site Acreage 1.81 acres Density 26.51 (units/acre) Parcel Number 075-0094-011-0000 Type of Buildings Two-Story, Garden-Style Space Heat Central Air Conditioning Wall Units Heaters Individual Roofs Flat Exterior Wood Frame/Stucco Investment Summary Price 2,400,000 Price / Unit 50,000 Pro Forma Cap Rate 7.10% Pro Forma GRM 6.21 Proposed Loan (60% LTV) $1,560,000 Down Payment $840,000 Interest Rate 4.1% Amortization 30 Years Cash on Cash Return 9.5% Same Owner 14+ Years
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COLLIERS INTERNATIONAL301 University Ave, Suite 100Sacramento, CA 95825www.colliers.com
FOR SALE | 48 UNIT APARTMENT COMPLEX
Tuolumne Meadows Apartments9130 TUOLUMNE DRIVE | SACRAMENTO, CA 95826
BRIAN NELSONSenior Vice PresidentLicense # 01009543+1 916 830 [email protected]
Property SummaryUnits 48Yr. Built 1970Metering IndividualParking 52 Open SpacesAverage SF 780Site Acreage 1.81 acresDensity 26.51 (units/acre)Parcel Number 075-0094-011-0000Type of Buildings Two-Story, Garden-StyleSpace Heat Central Air Conditioning Wall UnitsHeaters IndividualRoofs FlatExterior Wood Frame/Stucco
Investment SummaryPrice 2,400,000Price / Unit 50,000Pro Forma Cap Rate 7.10%Pro Forma GRM 6.21Proposed Loan (60% LTV) $1,560,000Down Payment $840,000Interest Rate 4.1%Amortization 30 YearsCash on Cash Return 9.5%Same Owner 14+ Years
2 | Tuolumne Meadows Apartments
Property Overview48 units located along the Highway 50 Corridor in the La Riviera submarket of Sacramento County, 8 miles east of downtown Sacramento and 5 miles from Sacramento State University. Floor plans at Tuolumne Meadows include one and two-bedroom units with amenities such as individual water heaters, dishwashers, garbage disposals, central heat in 2-bedroom units, wall air conditioning, ceiling fans, walk-in closets, window coverings and wall-to-wall floor coverings. Community features include a sparkling swimming pool, on-site laundry facility, ample on-site parking, and a rental office with on-site management.
Location DescriptionTuolumne Meadows is located in the La Riviera submarket of Sacramento County, 2 miles from the incorporated city of Rancho Cordova, 8 miles to Downtown Sacramento and less than 5 miles from Sacramento State University. Public transportation is a short 10-minute walk around the block to Folsom Blvd and nearby employment opportunities are abundant with over 17 large employers (250+ employees) located within a 2 mile radius including: Matheson Freight, Capital Christian Center, Sac County Hwy Maint. & Golden One Credit Union.
This document has been prepared by Colliers International for advertising and general information only. Colliers International does not guarantee, warrant or represent that the information contained in this document is correct. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from.
For More Information, contact the Western Apartment Group:
COLLIERS INTERNATIONAL301 University Avenue, Suite 100Sacramento, CA 95825+1 916 929 5999www.colliers.com/sacramento
BRIAN NELSONSenior Vice PresidentLicense # 01009543+1 916 830 [email protected]
Investment DataOffering Price $2,400,000 Price Per Unit $50,000 Price Per Sq.Ft. $64.10 Stabilized GRM 6.21 Stabilized CAP 7.10%Cash on Cash Return 9.53%Year Built 1970
Estimated Annualized Operating DataStabilized
Scheduled Gross Income 386,760
Less: Vacancy Allowance 5.0% (19,338.00)
Gross Operating Income 367,422
Less Expenses (Expenses as % of Operating Income) 53.60% (196,944)
Net Operating Income 170,478
Less Loan Payment (90,455)
Pre-Tax Cash Flow 80,023
Cash on Cash Return 9.53%
Income Analysis
Type # Units Current Rent Range Est. SF Average Current