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Westwood Apartments, Carmichael, CA
Price Reduction: $15,750,000
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Investment Highlights
• 182 Units
• Pro forma Cap Rate: 6.71%, Actual Cap Rate: 6.06%
• Significant NOI gain through the capture of Loss to Lease in excess of $146,000 annually
• Average three mile Household Income of $72,459
• Mature neighborhood with limited infill sites available for future development
• $425,000 is the average list price of single family homes surrounding Westwood
• $1,100,000 is the average list price of homes less than 2 miles south
• Located in the San Juan School District, which is one of the top performing districts in the state
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Westwood is an extremely unique property with the mature landscaping meandering through the many distinctly different buildings provides for almost a tropical resort atmosphere. This is amplified by the enormous resort style pool surrounded by ivy covered cottages and two story apartment buildings.
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Gallelli Real Estate
2150 Douglas Blvd
Ste. 100
Roseville, CA 95661
GallelliRE.com
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Gary Gallelli, Partner
Managing Director
BRE LIC 01099383
916.784.2700
Gary@GallelliRE.com
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Rod Ballinger
Senior Vice President
Apartment Group
BRE LIC 01279441
Rod@GallelliRE.com
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