
Skylark Place
Number Of Units
Acquisition Price
Acquisition Date
Hold Period
Project Level Projected IRR
Project Level Projected EM
Property Photos
Investment Highlights
Built in two phases, 1973 and 1991, RENEW CARMICHAEL (the Property) is a two-story, 198-unit garden-style property. The property consists of one and two-bedroom units averaging 802 SF. Prior ownership renovated 38% of units and is achieving a $200-300 differential on renovated units.
Residents can enjoy two pools, a fitness center, package lockers, and a club lounge. Prior ownership completed over $4M in property upgrades including roof, siding, painting, walkways, railings, balconies, windows, lighting, and updated the clubhouse, leasing office, gym, and pool areas.
Located in Carmichael, a suburban submarket of Sacramento, the property is situated between Carmichael Park and the American River.