3525 Norris AveSacramento, CA 95821

This exceptional 5-unit apartment building, located at 3525 Norris Ave in Sacramento, CA, presents a compelling investment opportunity. Built in 1959 and completely renovated in 2023, this property boasts 3,750 square feet on a spacious 0.56-acre lot. The complex features exclusively two-bedroom, one-bathroom units, each with a private patio/yard. 80% of the units have undergone extensive renovations, including new kitchens with stainless steel appliances and granite countertops, updated bathrooms, new washer/dryer enclosures, dual-pane windows, mini-split HVAC systems, and fresh paint. The property also benefits from new landscaping, connection to city sewer, and a newly paved parking area. The RD-20 zoning allows for the development of an additional five units, offering significant potential for future expansion and increased revenue. Currently operating at 100% occupancy, the property generates a strong NOI of $72,517, representing a 5.04% cap rate. The asking price is $1,440,000 ($288,000 per unit and $384 per square foot). This turnkey investment offers a blend of immediate income and substantial long-term growth potential in a desirable Sacramento neighborhood near Interstate 80, Arden Fair Mall, and numerous amenities. The property's recent revitalization, combined with its zoning potential, makes it an attractive opportunity for savvy investors seeking a high-return multifamily asset. The quiet residential location adjacent to Mira Loma High School adds to its appeal.