Skyview Villa & Somerset Apartments

Le Investment Group is proud to present Skyview Villa and Somerset Apartments at 2505-2509 Edison Avenue and 2526 Edison Avenue, Sacramento, CA 95821. This two property multifamily offering is a value add opportunity where the heavy lifting is already complete. Ownership has invested more than $1.6 million in capital improvements. These include new roofing systems with reported 30 year warranties, 20 year quality exterior paint, completed deck improvements, and major plumbing and building system upgrades, and approximately 98% of unit interiors are fully renovated. The offering is priced at a 5.87% going in CAP with immediate upside to 6.42%. Over 60% of occupied units carry near term rent increase potential, representing approximately $182,000 in additional annual income through allowable rent adjustments. By topping off rents, the next owner has a clear path to a 7.30% pro forma CAP and can grow NOI without immediate capital expenditure.