Trailridge Apartments 409 N Lincoln Way 63 Unit Apartment Building $18,146,960 CAD ($288,047 CAD/Unit) 5.31% Cap Rate Galt, CA 95632

Property Website: https://properties.expcommercial.com/409-n-lincoln-way-galt-sale
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The Mejia Realty Group at eXp Commercial is pleased to exclusively present Trailridge Apartments located at 409 North Lincoln Way in Galt, California. The garden style community was originally built in approximately 1987 with the addition of the southernmost building recently completed in 2022 which added an additional fourteen (14) units. There are six, two-story buildings which includes the leasing office building for a total of sixty-three (63) units. The property is comprised of a unit mix that includes twenty- four (24) one-bedroom/one- bathroom units and thirty-nine (39) two-bedroom/ two-bathroom units. The property offers two one-bedroom unit ?oor plans that are approximately 623 and 597 square feet and two two-bedroom/two-bathroom unit ?oor plans that are approximately 693 and 818 square feet (Buyer to verify exact square footage). The parking was also expanded during the construction of the southernmost building adding covered reserved and guest parking. Additionally, in 2021 all the roofs were replace and extensive dry rot repairs were completed. The community features a laundry facility, a pool with a BBQ area, four landlords used storage areas, ample reserved covered parking, open covered and uncovered guest parking, and a well-manicured landscape. The unit amenities include central heating and air, dual pane windows, individual water heaters, tankless water heaters (select units), in unit washer/dryers (select units), ceiling fans, stainless steel appliances (select units), dishwashers, garbage disposals, refrigerators, spacious walk-in closets, balconies/patios, carpet, and hardwood ?ooring (select units). A new Buyer has the opportunity to acquire the largest market rate apartment community in the City of Galt.
In 2020, Galt had a population of nearly 26,000 people and situated just off Highway 99. In 2023, the median household income of Galt households was $86,327. The city is a short drive to Elk Grove, Sacramento, and the Central Valley making it a desirable bedroom community for commuting renter. According to the 2020 census, most residents in Galt drove alone to work, and the average commute time was 32.3 minutes. Per Zillow, the current typical home value in Galt is approximately $544,550, which is ?nancially out of reach for the majority of ?rst time home buyers, making renting a more affordable option and further increasing the rental demand. The City of Galt provides tenants a suburb community from the larger city lifestyle while still close enough to take advantage of all the many amenities and attractions Sacramento and the Central Valley has to offer at a lower cost of living.
Due to the centralized location of the property, tenants are in close proximity to major employers like the State of California, Kaiser Permanente, Sutter Health, Intel Corp, CSU- Sacramento, UC Davis, Amazon Distribution Centers, and an abundance of agricultural, service and retail employers. Galt is the home of numerous annual events including the Strawberry Festival, Winter Bird Festival, and a summer Independence Day Celebration, attracting local residents and out of town visitors. Galt’s close proximity to the Sierra Foothills, Cosumnes River Preserve, Sacramento Delta, and Northern California Delta Recreation Area add to Galt’s status as a recreational haven. Major destinations within two hours’ driving distance of Galt include San Francisco, Lake Tahoe, Reno, and the Paci?c Coast.
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