Investment Overview

Marcus & Millichap has been retained as exclusive agent to offer fee simple interest in River Cove Apartments to the marketplace. The property features a diverse unit mix with above-average unit sizes and excellent floor plans. Residents enjoy a beautiful park-like ambience with mature trees, abundant natural light with single-load design units constructed at 17 units/acre and adjacency to Reichmuth Park. The property has been exceptionally well-maintained for over 45 years by the same family and management company, Natoma Management. Ownership has recently replaced interior electrical subpanels and completed a landscape overhaul. Approximately half of the unit interiors have been upgraded to include LVT flooring, granite countertops and new cabinet fronts. The savvy investor will recognize the value in a continued renovation program that could include in-unit laundry in the future. Each unit is supported with its own individual water heater and two of the floor plans include an extra vanity that is ideally situated for a laundry retrofit. The offering to purchase River Cove Apartments represents a value-add opportunity in a neighborhood traditionally known for low sales transaction velocity, high occupancy and great proximity to Downtown Sacramento while still offering low-density living to its residents. Do not disturb management. All tours must be conducted with listing agent present.