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Sunrise Station 11260 Point East Dr 158 Unit Apartment Building $36,664,076 CAD ($232,051 CAD/Unit) 5.51% Cap Rate Rancho Cordova, CA 95742
Investment Highlights
- 158-Unit Multifamily Newer Construction Asset
- Attractive Attainable Rent Positioning
- Efficient Unit Mix Designed for Today’s Renters
- Potential Eligibility for California Welfare Tax Exemption
- 2024 Certificate of Occupancy
- Compelling Basis Relative to New Multifamily Development
Executive Summary
EXECUTIVE SUMMARY
Northmarq, as exclusive advisor, presents the opportunity to acquire Sunrise Station, a 158-unit multifamily community offering an attractive combination of in-place income and continued operational upside. The property features a diverse mix of efficiently designed one- and two-bedroom residences with an average unit size of approximately 458 square feet, appealing to a broad renter demographic seeking attainable housing options.
The asset has undergone significant repositioning in recent years, transitioning into a fully functioning multifamily community with modernized unit layouts and improved operational infrastructure. These improvements have allowed ownership to establish a strong leasing foundation while demonstrating the property’s ability to achieve rent growth through continued lease-up and operational optimization.
Current rents remain below recently achieved levels across several unit types, providing investors with a clear opportunity to capture additional revenue through continued leasing momentum and the elimination of remaining operational inefficiencies. The property’s unit mix, efficient floor plans, and attainable rental pricing position Sunrise Station to benefit from sustained demand for workforce housing within the market.
INVESTMENT HIGHLIGHTS
158-Unit Multifamily Newer Construction Asset
The property benefits from relatively recent construction and modern building infrastructure, reducing near-term capital expenditure requirements compared to older vintage assets.
Potential Eligibility for California Welfare Tax Exemption
Approximately 89% of the units are currently leased at or below 80% of Area Median Income (AMI), positioning the property as a strong candidate for the California Welfare Property Tax Exemption, which may significantly reduce operating expenses for qualifying ownership structures.
Attractive Attainable Rent Positioning
Efficient unit layouts and attainable rent levels appeal to a broad renter demographic seeking quality housing at a competitive price point.
Opportunity to Capture Additional Rent Growth
Current in-place rents remain below recently achieved rent levels across multiple unit types, creating a clear opportunity to increase revenue as leases roll.
Efficient Unit Mix Designed for Today’s Renters
Primarily one-bedroom residences complemented by loft and two-bedroom layouts with efficient floor plans that support strong leasing velocity.
Compelling Basis Relative to New Multifamily Development
The offering provides investors the opportunity to acquire a newer vintage multifamily community at a basis that is highly competitive relative to current development costs for comparable assets.
Northmarq, as exclusive advisor, presents the opportunity to acquire Sunrise Station, a 158-unit multifamily community offering an attractive combination of in-place income and continued operational upside. The property features a diverse mix of efficiently designed one- and two-bedroom residences with an average unit size of approximately 458 square feet, appealing to a broad renter demographic seeking attainable housing options.
The asset has undergone significant repositioning in recent years, transitioning into a fully functioning multifamily community with modernized unit layouts and improved operational infrastructure. These improvements have allowed ownership to establish a strong leasing foundation while demonstrating the property’s ability to achieve rent growth through continued lease-up and operational optimization.
Current rents remain below recently achieved levels across several unit types, providing investors with a clear opportunity to capture additional revenue through continued leasing momentum and the elimination of remaining operational inefficiencies. The property’s unit mix, efficient floor plans, and attainable rental pricing position Sunrise Station to benefit from sustained demand for workforce housing within the market.
INVESTMENT HIGHLIGHTS
158-Unit Multifamily Newer Construction Asset
The property benefits from relatively recent construction and modern building infrastructure, reducing near-term capital expenditure requirements compared to older vintage assets.
Potential Eligibility for California Welfare Tax Exemption
Approximately 89% of the units are currently leased at or below 80% of Area Median Income (AMI), positioning the property as a strong candidate for the California Welfare Property Tax Exemption, which may significantly reduce operating expenses for qualifying ownership structures.
Attractive Attainable Rent Positioning
Efficient unit layouts and attainable rent levels appeal to a broad renter demographic seeking quality housing at a competitive price point.
Opportunity to Capture Additional Rent Growth
Current in-place rents remain below recently achieved rent levels across multiple unit types, creating a clear opportunity to increase revenue as leases roll.
Efficient Unit Mix Designed for Today’s Renters
Primarily one-bedroom residences complemented by loft and two-bedroom layouts with efficient floor plans that support strong leasing velocity.
Compelling Basis Relative to New Multifamily Development
The offering provides investors the opportunity to acquire a newer vintage multifamily community at a basis that is highly competitive relative to current development costs for comparable assets.
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $36,664,076 CAD | Property Subtype | Apartment |
| Price Per Unit | $232,051 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | B |
| Cap Rate | 5.51% | Lot Size | 3.40 AC |
| Gross Rent Multiplier | 8.24 | Building Size | 114,000 SF |
| No. Units | 158 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1989/2024 |
| Zoning | GC | ||
| Price | $36,664,076 CAD |
| Price Per Unit | $232,051 CAD |
| Sale Type | Investment |
| Cap Rate | 5.51% |
| Gross Rent Multiplier | 8.24 |
| No. Units | 158 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 3.40 AC |
| Building Size | 114,000 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1989/2024 |
| Zoning | GC |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Microwave
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Patio
Site Amenities
- 24 Hour Access
- Controlled Access
- Fitness Center
- Pool
- Property Manager on Site
- Gameroom
- Bicycle Storage
- Lounge
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 150 | $2,342 CAD | 380 - 850 |
| 2+1 | 4 | $2,625 CAD | 740 |
| 2+2 | 4 | $2,587 CAD | 690 - 720 |
Fairly walkable
40/100
Exceptionally drivable
100/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 058-0270-062 | Total Assessment | $32,648,679 CAD (2025) |
| Land Assessment | $4,427,360 CAD (2025) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $28,221,319 CAD (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
058-0270-062
Land Assessment
$4,427,360 CAD (2025)
Improvements Assessment
$28,221,319 CAD (2025)
Total Assessment
$32,648,679 CAD (2025)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2026
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Sunrise Station | 11260 Point East Dr
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