6221 39Th StSacramento, CA 95824

This exceptional 18-unit apartment complex, Townhouse Gardens, presents a compelling investment opportunity in Sacramento, CA. The property boasts 14,040 square feet of rentable space across three, two-story buildings situated on a 0.65-acre lot. Built in 1963, the property features 18 identical two-bedroom, 1.5-bathroom townhouse-style units, each approximately 780 square feet with patios and large closets. Recent upgrades include new dual-pane windows (2018), a fresh exterior paint job, and roof replacement (2017). The property includes a secured gated entrance, on-site laundry facilities, and ample off-street parking. Currently operating at 100% occupancy, the property generates a strong NOI of $155,671, representing a 5.77% cap rate and a pro-forma cap rate of 9.46%. The asking price is $2,700,000, or $150,000 per unit. The property is zoned for multifamily use and is offered fee simple, making it suitable for a 1031 exchange. Individual units are metered for gas and electricity (excluding hot water), with the owner covering sewer, water, garbage, hot water, and common area lighting. The property's location in a thriving submarket, combined with its desirable unit mix and recent improvements, makes it an attractive investment prospect. Drive-by viewing only