3201 Marysville Blvd
Sacramento, CA 95815

The Mejia Group of Marcus & Millichap is pleased to announce the exclusive opportunity to acquire a +/- 1.5 acre (65,564S SF) development site to include an 110 unit mix-used building of both Type IA (ground floor) + Type IIIA (apartments). The property consists of seven, contiguous parcels, zoned for C-2 General Commercial which allows a new investor the opportunity to develop two (2) new ground floor retail/coffee/restaurant spaces, and four floors consisting of 108 apartments units. This site sits on the corner of Marysville & Arcade Blvd just off of Highway 80 in the Hagginwood neighborhood and just a few minutes from Arden Fair Mall and Vibrant Midtown/Downtown. The currents plans include 6,155 SF of ground level retail, gym, bike room, lobby, and 113,438 SF of apartments spread over four stories. The project is comprised of one (1) and two (2) bedroom apartments immersed in a tree-lined business park setting with ample off-street parking for tenants and bicyclist. The current unit mix includes forty one (41) one (1) bedroom apartments and sixty seven (67) two (2) bedroom apartments. A new developer has the opportunity to acquire a fully entitled site that will allow for the development of housing in a market with increased demand. Recently, The Greater Sacramento Urban League filed plans for a six-story project in Sacramento’s Del Paso Heights neighborhood, with retail and office topped by four floors of apartments which further promotes initiatives to bring more housing to underserved communities. Sacramento’s apartment market remains one of the most sought-after secondary markets in the country. Quarterly sales volume revealed elevated levels of buyer demand and the quarterly average price per unit posted a record high. A competitive sales market has placed downward pressure on average cap rates, which fell to an all-time low in Q1 2022. The Sacramento region has been one of the most resilient apartment markets in the country and experienced minimal pandemic-related downturn in occupancy or rents. ***DRIVE BY ONLY. ALL PROPERTY SHOWINGS ARE SUBJECT TO SELLER ACCEPTED OFFER ONLY. PLEASE CONSULT MARCUS & MILLICHAP LISTING AGENT FOR MORE DETAILS.***