470 Jessie Ave
Sacramento, CA 95838
Magpie Creek Condominiums · Multifamily Property For Sale · 60 Units

Magpie Creek Condominiums is a well-located multifamily community in the Sacramento market, offering investors stable in-place operations with multiple avenues for near- and long-term value creation. Originally constructed in 2007 as condominiums and operated as apartments, the property benefits from condominium-grade construction, durable building systems, and lower long-term capital expenditure risk relative to older vintage multifamily assets. This higher-quality construction supports strong resident appeal and operational efficiency.
The community features an attractive and functional unit mix designed to serve a broad renter demographic, contributing to consistent leasing velocity and durable occupancy. In place rents remain below prevailing market levels, providing a clear value-add opportunity through targeted interior improvements and strategic rent repositioning over the hold period. Additionally, the implementation of RUBS presents immediate upside through utility expense recovery, enhancing net operating income without the need for significant capital investment.
Strategically positioned within a well-connected Sacramento submarket, Magpie Creek Condominiums benefits from proximity to major employment centers, higher-education institutions, and regional retail and lifestyle amenities. The property offers convenient access to Interstate 80, the Capital City Freeway (Business 80), State Route 99, and U.S. Route 50, providing efficient connectivity to Downtown Sacramento and the broader Northern California region. Supported by strong local demographics, a deep employment base, and limited new multifamily supply, the property is well positioned to capture sustained renter demand and deliver long-term appreciation in one of Northern California’s most resilient housing markets.