2618 Forrest Street Apartments

Highlights:

• All Single Level Buildings With Pitched Comp Roofs
• Desirable Unit Mix of Mostly 2 Bedroom Units
• Nearly An Acre Lot
• All Units Have Washer/Dryer Hook Up
• Dual Pane Windows
• 4 of 5 Units Have Garages
• Long Term Stable Occupancy
• 60% of Units With HVAC/Mini Split

Description:

Mejia Realty Group at eXp Commercial is pleased to present the opportunity to acquire the Forrest Street Apartments, a five-unit apartment community located in Old North Sacramento. Forrest Street Apartments represents a value-add opportunity to acquire a multifamily asset in an expanding Old North Sacramento submarket. While the complex has been owner-operated, the property has a rental upside through the completion of higher end renovations; and provides room for rental growth upwards of few hundred dollars per month per unit on average. The single level property sits on a spacious lot that is just short of an acre and is made up of three separate buildings with dual pane windows consisting of two duplexes and cottage house. There are four two-bedroom/ one-bath units approximately 800 square feet with single car garages and a one-bedroom/ one-bath cottage house approximately 600 square feet. All units have been upgraded in various way throughout the current ownership including replacement of HVAC/mini split units (select units), water heaters (select units), and laminate flooring (select units).

Situated in the heart of North Old Sacramento, the 2618 Forrest Street Apartments benefit from being just minutes from Downtown Sacramento, offering tenants easy access to major employment hubs including the California State Capitol, Kaiser Permanente, Sutter Health, and the UC Davis Medical Center. Sacramento’s thriving healthcare, education, and government sectors provide stable job opportunities that continuously attract renters to the area. The nearby Capital City Freeway (Business 80) and Highway 160 provide seamless regional access, making it convenient for tenants to commute throughout the greater Sacramento area. Residents of the Forrest Street area enjoy access to a variety of local amenities and attractions. The nearby Arden Fair Mall and Cal Expo offer shopping, dining, and year-round events, while regional parks such as Discovery Park and the American River Parkway deliver recreational opportunities just a short drive away. The location is also near the burgeoning Midtown and Downtown neighborhoods, known for their vibrant food scene, boutique shops, and cultural landmarks. Sacramento continues to show strong fundamentals for multifamily investment, including a growing population, expanding infrastructure, and favorable rent growth trends. The 2618 Forrest Street Apartments are well-positioned within this market, offering investors a foothold in a city consistently ranked among the most desirable places to live and invest in California.