VILLA ROSE - LoopNet · This Marketing Brochure has been prepared to provide summary, unverified ... the American River Parkway, and California State University, Sacramento. The immediate

Offering Memorandum

VILLA ROSE

2 3 1 3 V i l l a n ova C i r c l e , S a c r a m e n t o , C A

N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E

Confidentiality and DisclaimerThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and

should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified

information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due

diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the

future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or

asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any

tenant's plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be

reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these

matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to

verify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.

Non-Endorsement NoticeMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's logo or

name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product,

service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.

PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

2

TABLE OF CONTENTS

VILLA ROSE

3

SECTION

INVESTMENT OVERVIEW 01

Offering Summary

Interior Photographs

Exterior Photographs

Aerial Photo

FINANCIAL ANALYSIS 02

Rent Roll Summary

Operating Statement

Pricing Detail

MARKET COMPARABLES 03

Sales Comparables

Rent Comparables

VILLA ROSE

4

INVESTMENT

OVERVIEW

#

OFFERING SUMMARY

5

Terms of the SaleFee simple interest of Villa Rose is offered for sale.

Property ToursProspective buyers are encouraged to visit the subject property prior

to submitting offers. All property tours must be arranged with The

DeLoney Group. Please do not contact the tenants, on-site

management or staff without proper approval.

The Offering

Price $1,380,000

Price/Unit $172,500

Price/SF $222.58

Number of Units 8

Rentable Square Feet 6,200

Number of Buildings 1

Lot Size 0.34 Acres

Year Built 1971

Assessors Parcel Number 285-0264-003

Interest Offered100 percent fee simple interest in Villa Rose, a 8-unit, 6,263 rentable

square-foot multifamily community located at 2313 Villanova Circle,

Sacramento, CA.

VILLA ROSE

VILLA ROSE

OFFERING SUMMARY

▪ Premium South Arden - Arcade Location

▪ Majority of Units Are Spacious Two Bedroom's

▪ Value Add Opportunity Through Interior Renovations

▪ Close Proximity To Sacramento's Finest Employment and Entertainment Districts

INVESTMENT HIGHLIGHTS

Marcus & Millichap is pleased to present Villa Rosa, a unique 8-unit apartment community located in the highly desirable south end of the Arden - Arcade sub market of

Sacramento, California. The property features (7) Two-Bedroom - Two-Bathroom units with 800 rentable square feet and (1) One-Bedroom - One-Bathroom unit with 600

rentable square feet. Situated just east of Downtown Sacramento, the south Arden - Arcade area has some of the regions largest gaps between cost to rent and mortgage

payments.

The next owner of Villa Rose will enjoy an opportunity to add value in one of the most lucrative areas in the City of Sacramento, the countries hottest rental market for the

past five year running. Competitive sets in the neighborhood suggest that there is a 23% loss to lease on the rent roll through interior renovations. The south Arden - Arcade

sub market is widely considered to be attractive due to the locations proximity to entertainment options, some of the area's finest restaurants, employment, and some of

the most charming neighborhoods in the region. More specifically, residents will enjoy being within a 5-10 minute drive to Arden Fair Mall, Lohemanns Plaza, Downtown

Sacramento, Cal Expo, the American River Parkway, and California State University, Sacramento. The immediate access to Sacramento's entertainment and employment

scene positions Villa Rose to capture some of the highest rents in suburban Sacramento.

Proven rent levels at Villa Rose, as well as the rents of competing properties a stone throw away from Villa Rosa, provide clear evidence that this offering is a value-add

opportunity. Through continuing the current strategy of raising rents to market and through an appropriate interior renovation strategy, the next investor can expect to push

cash on cash return close to 8%. Industry research suggests that the Sacramento region will once again be among the nations leaders in rent growth due to employment

growth and a lack of new apartment construction throughout the region, and especially suburban Sacramento. The more than $500 gap between between the average rent

and monthly mortgage payment bodes well for the multifamily sector in 2019.

All tour must be scheduled with the listing agents. Please be respectful and do not disturb management.

INVESTMENT OVERVIEW

6

#

INTERIOR PHOTOGRAPHS

7

VILLA ROSE

#

EXTERIOR PHOTOGRAPHS

8

VILLA ROSE

AERIAL PHOTO

VILLA ROSE

9

VILLA ROSE

10

FINANCIAL

ANALYSIS

FINANCIAL ANALYSIS

VILLA ROSE

RENT ROLL SUMMARY

11

FINANCIAL ANALYSIS

VILLA ROSE

OPERATING STATEMENT

12

FINANCIAL ANALYSIS

VILLA ROSE

PRICING DETAIL

13

VILLA ROSE

14

MARKET

COMPARABLES

VILLA ROSE

SALES COMPARABLES MAP

15

VILLA ROSE

(SUBJECT)

Villa Palms Apartments

Country Aire Apartments

The Ponderosa

The Carmichael

3901 H Street

Walnut Apartments

2340 Villanova

Apartment Lane

1229-1233 Jonas Ave.

Artisan Square Apartments

5498 Carlson Dr

The Commons At River

Park

SALES COMPARABLES

ON MARKET COMPARABLES

1

2

3

4

5

7

8

6

9

10

11

12

16

Avg. 4.59%

Avg. 3.64%

0.0

0.6

1.2

1.8

2.4

3.0

3.6

4.2

4.8

5.4

6.0

Villa Rose Villa Palms

Apartments

Country

Aire

Apartments

The

Ponderosa

The

Carmichael

3901 H

Street

Walnut

Apartments

2340

Villanova

Apartment

Lane

1229-1233

Jonas Ave.

Artisan

Square

Apartments

5498

Carlson Dr

The Commons

At River

Park

PROPERTY NAMEVILLA ROSE

SALES COMPARABLES

Average Cap Rate

SALES COMPARABLES


SALES COMPS AVG

ON MARKET COMPS AVG

17

Avg. $222.99

Avg. $349.73

$0.00

$40.00

$80.00

$120.00

$160.00

$200.00

$240.00

$280.00

$320.00

$360.00

$400.00


Apartments

Country

Aire

Apartments

The

Ponderosa

The

Carmichael

3901 H

Street

Walnut

Apartments

2340

Villanova

Apartment

Lane

1229-1233

Jonas Ave.

Artisan

Square

Apartments

5498

Carlson Dr

The Commons

At River

Park


SALES COMPARABLES

Average Price Per Square Foot

SALES COMPARABLES


SALES COMPS AVG

ON MARKET COMPS AVG

Avg. $168,882

Avg. $339,584

$0

$40,000

$80,000

$120,000

$160,000

$200,000

$240,000

$280,000

$320,000

$360,000

$400,000


Apartments

Country

Aire

Apartments

The

Ponderosa

The

Carmichael

3901 H

Street

Walnut

Apartments

2340

Villanova

Apartment

Lane

1229-1233

Jonas Ave.

Artisan

Square

Apartments

5498

Carlson Dr

The Commons

At River

Park

Average Price Per Unit

PROPERTY NAME

MARKETING TEAM

VILLA ROSE

SALES COMPARABLES

rentpropertyname1

rentpropertyaddress1

rentpropertyname1


rentpropertyname1


18

SALES COMPARABLES ON MARKET COMPARABLES

Units Unit Type

Offering Price: $1,380,000 1 1 Bdr 1 Bath

Price/Unit: $172,500 7 2 Bdr 1 Bath

Price/SF: $222.58

CAP Rate: 5.19%

GRM: 12.23

Total No. of Units: 8

Year Built: 1971

VILLA ROSE2313 Villanova Cir, Sacramento, CA, 95825

1

Units Unit Type

Close Of Escrow: 6/26/2018 6 3 Bdr 1.5 Bath

Sales Price: $1,075,000

Price/Unit: $179,167

Price/SF: $178.81

CAP Rate: 4.20%


Year Built: 1971

VILLA PALMS APARTMENTS2352 Villanova Cir, Sacramento, CA, 95825

Units Unit Type

Close Of Escrow: 11/21/2018 6 Studio 1 Bath

Sales Price: $1,650,000 6 1 Bdr 1 Bath

Price/Unit: $103,125 4 2 Bdr 1 Bath

Price/SF: $203.20

CAP Rate: 3.50%


Year Built: 1976

2

COUNTRY AIRE APARTMENTS1500 Hood Rd, Sacramento, CA, 95825

PROPERTY NAME

MARKETING TEAM

VILLA ROSE

SALES COMPARABLES

rentpropertyname1


rentpropertyname1


rentpropertyname1


19


Units Unit Type

Close Of Escrow: 7/5/2018 9 2 Bdr 1 Bath



Price/SF: $200.28

CAP Rate: 4.50%


Year Built: 1960

3

THE PONDEROSA1437 Hood Rd, Sacramento, CA, 95825

4

Units Unit Type




Price/SF: $147.33

CAP Rate: 5.01%

GRM: 10.15


Year Built: 1979

THE CARMICHAEL4600 Marconi Ave, Sacramento, CA, 95821

Units Unit Type




Price/SF: $381.22

CAP Rate: 2.75%


Year Built: 1955

5

3901 H STREET3901 H St, sacramento, CA, 95819

PROPERTY NAME

MARKETING TEAM

VILLA ROSE

SALES COMPARABLES

rentpropertyname1


rentpropertyname1


rentpropertyname1


20


Units Unit Type




Price/SF: $239.87

CAP Rate: 4.98%


Year Built: 1991

6

WALNUT APARTMENTS5030 Walnut Ave, Sacramento, CA, 95841

7

Units Unit Type

Close Of Escrow: 4/30/2019 4 2 Bdr Bath

Sales Price: $725,000


Price/SF: $201.39

CAP Rate: 4.95%


Year Built: 1970

2340 VILLANOVA2340 Villanova Cir, Sacramento, CA, 95825

Units Unit Type




Price/SF: $131.90

CAP Rate: 5.50%


Year Built: 1963

8

APARTMENT LANE2443 Wyda Way, Sacramento, CA, 95825

PROPERTY NAME

MARKETING TEAM

VILLA ROSE

SALES COMPARABLES

rentpropertyname1


rentpropertyname1


rentpropertyname1


21


Units Unit Type


Sales Price: $849,000


Price/SF: $318.81

CAP Rate: 5.00%


Year Built: 1975

9

1229-1233 JONAS AVE.1229-1233 Jonas Ave, Sacramento, CA, 95864

10

Units Unit Type



Price/Unit: $182,598 50 2 Bdr 1.5 Bath

Price/SF: $227.09 26 3 Bdr 1.5 Bath

CAP Rate: 5.50%


Year Built: 1973

ARTISAN SQUARE APARTMENTS1530 Fulton Ave, Sacramento, CA, 95825

Units Unit Type

On Market 4 2 Bdr 1 Bath

List Price: $1,250,000


Price/SF: $347.22

CAP Rate: 3.78%


Year Built: 1950

11

5498 CARLSON DR5498 Carlson Dr, Sacramento, CA, 95819

PROPERTY NAME

MARKETING TEAM

VILLA ROSE

SALES COMPARABLES

rentpropertyname1


rentpropertyname1


rentpropertyname1


22


Units Unit Type

On Market 3 1 Bdr 1 Bath

List Price: $5,500,000 3 2 Bdr 2 Bath

Price/Unit: $366,667 9 2 Bdr 2.5 Bath

Price/SF: $352.23

CAP Rate: 3.50%


Year Built: 2016

12

THE COMMONS AT RIVER PARK 5499 Carlson Dr, Sacramento, CA, 95819

8

VILLA ROSE

RENT COMPARABLES MAP

VILLA ROSE

(SUBJECT)

Pine Tree

The Ponderosa

1229-1233 Jonas Ave.

Lincoln Place Apartments

Sierra Fair Apartments

The Falls at Arden

4

7

8

9

11

20

12

14

15

16

17

13

18

10

4

1

2

3

5

6

23


RENT COMPARABLES

24

AVERAGE RENT - MULTIFAMILY

Avg. $1,479

$0

$200

$400

$600

$800

$1,000

$1,200

$1,400

$1,600

$1,800

$2,000

Villa Rose Lincoln

Place

Apartments

Sierra Fair

Apartments

The Falls

at Arden

1 Bedroom

Avg. $1,640

$0

$300

$600

$900

$1,200

$1,500

$1,800

$2,100

$2,400

$2,700

$3,000

Villa Rose Pine Tree The

Ponderosa

1229-1233

Jonas Ave.

Lincoln

Place

Apartments

Sierra Fair

Apartments

The Falls

at Arden

2 Bedroom

PROPERTY NAME

MARKETING TEAM

VILLA ROSE

RENT COMPARABLES

rentpropertyname1


rentpropertyname1


rentpropertyname1


25

YEAR BUILT: 1971

rentpropertyname1

Unit Type Units SF Rent Rent/SF

1 Bdr 1 Bath 1 600 $1,050 $1.75

2 Bdr 1 Bath 7 800 $1,194 $1.49

Total/Avg. 8 775 $1,176 $1.52

VILLA ROSE2313 Villanova Cir, Sacramento, CA, 95825

OCCUPANCY: 100% | YEAR BUILT: 1970

1

NOTES

Tile Flooring

Stainless Steel Appliances

New Cabinetry

Quartz Counter Tops

Off Street Parking


2 Bdr 1 Bath 10 900 $1,600 $1.78

Total/Avg. 10 900 $1,600 $1.78

PINE TREE2336 Villanova Cir, Sacramento, CA, 95825

2


NOTES

Over sized Patios

1 Car Garage

Tile Counter Tops and Cabinets

Double Pane Windows


2 Bdr 1 Bath 9 800 $1,500 $1.88

Total/Avg. 9 800 $1,500 $1.88

THE PONDEROSA1437 Hood Rd, Sacramento, CA, 95825

PROPERTY NAME

MARKETING TEAM

VILLA ROSE

RENT COMPARABLES

rentpropertyname1


rentpropertyname1


rentpropertyname1


26


3


2 Bdr 2 Bath 4 1,038 $1,550 $1.49

Total/Avg. 4 1,038 $1,550 $1.49

NOTES

Off Street Parking

Hardwood Flooring

Granite Counter Tops


Dual Pane Windows

Washer/Dryer In Unit

1229-1233 JONAS AVE.1229-1233 Jonas Ave, Sacramento, CA, 95864


4

NOTES

Fitness Center

Clubhouse

Laundry Facilities

Pet Play Area

Playground

Pool/Spa

Property Manager On Site


Studio 1 Bath 48 450 $1,075 $2.39

1 Bdr 1 Bath 56 545 $1,175 $2.16

1 Bdr 1 Bath 56 627 $1,250 $1.99

2 Bdr 1 Bath 48 820 $1,375 $1.68

2 Bdr 1.5 Bath 32 850 $1,425 $1.68

Total/Avg. 240 641 $1,246 $1.94

LINCOLN PLACE APARTMENTS817 Fulton Ave, Sacramento, CA, 95825

5


NOTES

Granite Counter Tops


New Vinyl Plank Flooring

Laundry Facilities

Pool

Storage Space


1 Bdr 1 Bath 153 575 $1,260 $2.19

2 Bdr 1 Bath 51 745 $1,425 $1.91

Total/Avg. 204 618 $1,301 $2.11

SIERRA FAIR APARTMENTS2500 Fair Oaks Blvd, Sacramento, CA, 95825

PROPERTY NAME

MARKETING TEAM

VILLA ROSE

RENT COMPARABLES

rentpropertyname1


rentpropertyname1


rentpropertyname1


27

YEAR BUILT: 1986

6


1 Bdr 1 Bath 216 423-687$1,415-$2,515

$3.54

2 Bdr 2 Bath 56 987$1,695-$3,050

$2.40

Total/Avg. 272 644 $2,049 $3.18

NOTES

Fitness Center

Basketball Court

Tennis Court

Valleyball Court

Business Center

Gameroom

Gated

Laundry Facilities

Pool/Spa/Sauna

THE FALLS AT ARDEN2345 Northrop Ave, Sacramento, CA, 95825

28

Tony DeLoney

First Vice President Investments

Director - National Multi Housing Group

Sacramento Office

Tel: (916) 724-1363

Fax: (916) 724-1410

[email protected]

License: CA 01920427

David DeLoney

Associate

Associate Member - National Multi Housing Group

Sacramento Office

Tel: (916) 724-1294

Fax: (916) 724-1410

[email protected]


Kenneth Reimer

Associate

Associate Member - National Multi Housing Group

Sacramento Office

Tel: (916) 724-1364

Fax: (916) 724-1410

[email protected]


P R E S E N T E D B Y

Villa Rose

www.thedeloneygroup.com

http://www.thedeloneygroup.com/

Documents

VILLA ROSE - LoopNet · This Marketing Brochure has been prepared to provide summary, unverified ... the American River Parkway, and California State University, Sacramento. The immediate