Self Storage and RV Park for Sale
8585 Elk Ridge way
Elk Grove, CA 95624

Price: $2,600,000

249 Units + 23 RV
26,750 sq ft
1.93 Acres

Gross Income: $277,300
Expenses: $81,300
Net Income: $196,000
Cap Rate: 7.3%
Occupancy: 85%

Strategic Location: The property is strategically located near the intersection of Elk Grove Blvd and Hwy 99 in Elk Grove on nearly two acres. The property is situated in the heart of Elk Grove near many existing businesses and mature residential neighborhoods. The project consistently outperforms its competitors given it proximity to central Elk Grove and major transportation corridors.

Great Infill Site: The property is an ideal way to “landbank” two infill acres for future commercial development. A future retail development would allow for visibility to Elk Grove Blvd with a high traffic counts and is adjacent to a large shopping center to the east and one to the west and other retail developments to the north. A site plan presenting a potential retail development for the site is included in the marketing package.

Long Term and Stable Rents: Many of the current tenants at Elk Grove-Laguna Personal Storage have leased units for many years. Additionally, some of the renters pay up to a year in advance. There are a number of local businesses that rent space along with nearby public schools and other public agencies.

Upside Potential: Rental rates are at a minimum 10% below market. The RV parking is always full and seldom has a vacancy. The original goal of the owner was to hold for future expansion of the adjacent shopping center that it owns. It did not focus on maximizing rents but rather on keeping occupancy high enough to cover debt service and carry the property until it could be developed.

Recession Proof: Since the down turn in the economy the occupancy rate at Elk Grove-Laguna Personal Storage has continued to increase. Many of the new renters were negatively impacted by the residential downturn and have been forced to downsizing from houses to smaller apartments or are moving in with friends and family. This creates a significant need for storage space for excess furniture and household goods.

Easy to Manage: Ideal investment for either a “hands-on” owner or absentee investor. Sale includes an on-site resident manager’s office and residence with two bedrooms, one bath and kitchen. Currently the property is managed by an experienced on site resident manager.

www.epiccre.com

email Steven Park or call  (916) 897-8555