2920 Ramona Avenue, Sacramento, CA 95826

The Opportunity

ASSET HIGHLIGHTS

  • The Crossings is a best-in-class, core asset, pedestrian to Sacramento State University
  • Market leading amenity offering including a resort-style pool with the market’s only jumbotron
  • LEED proposed building designed with full bed-bath parity

MARKET HIGHLIGHTS

  • Sacramento State University’s enrollment has grown 13.5% since 2010, with 30,670 students for Fall 2017
  • Dorms can only house 2,139 students. That’s just 7% of the total enrollment and far less than the 3,590 freshman class.
  • Only two purpose-built student housing assets exist in the market, both with historically strong occupancy.

ADDITIONAL UPSIDE

  • Under-charged for parking in year one. Tremendous upside for next school year.
  • As-built designed for double occupancy, in a market that would benefit from the affordable price point.
  • No on-site vending options for students.

The Property

The Crossings is a modern 225-unit, 750-bed, mid-rise, student housing apartment community located in the City of Sacramento, within walking distance of the California State University, Sacramento (CSUS) campus. This new LEED Proposed Certified Silver community comprises three, five-story apartment buildings, plus a two-story clubhouse and an 11,200-square-foot retail space. Situated on 9.04 acres of land with a density of 24.89 units per acre.

The Crossings encompasses a desirable unit mix of studio apartments measuring 487 square feet each, two-bedroom / two-bathroom units ranging from 856 to 941 square feet each, three-bedroom / three-bathroom units each occupying 1,211 square feet, and four-bedroom / four-bathroom units ranging from 1,395 to 1,513 square feet each.

property amenities

inTerior luxuries

  • Fully Furnished Units with Top-of-the-Line Furniture
  • Smart TV in Living Room
  • In-Unit 2GB Wi-Fi
  • Additional High-Speed Internet Ports
  • Cable TV Including HBO and Sports Packages
  • Oversized Windows Allowing Plenty of Natural Light
  • LED Lighting Throughout
  • Plush Bedroom Carpeting
  • Faux Wood Flooring
  • Modern Cabinetry and Finishes
  • High-End Stainless-Steel Appliances
  • Quartz Countertops
  • In-Unit Laundry
  • Private Bathroom for Each Bedroom
  • Walk-In Closet in Select Units

COMMUNITY features

  • Lit Sidewalks and Bike Lanes Leading to the Southern Entrance of CSUS
  • Plentiful Bicycle Parking
  • Lush Green Courtyard
  • Resort-Style Swimming Pool
  • Poolside Jumbotron
  • Veranda and Covered Seating
  • Outdoor Yoga Decks
  • Multiple Fire Pits
  • Desktop Computers and Printer in Fully Furnished Study Lounge
  • Game Room with Pool Table and Ping Pong Table
  • Fully Equipped Fitness Center with Free Weights and Numerous Cardio Machines
  • Separate Fitness and Yoga Studios
  • Half-Court Basketball
  • Group Study Rooms on Each Floor

market area

SACRAMENTO center for innovation (sci)

As part of the city of Sacramento’s plan to establish itself as a hub of technological advancement, city officials designated $10 million to the development of the 240-acre Sacramento Center for Innovation (SCI). As one component of the SCI, Sacramento State University and The Crossings have collaborated to develop the 11,200 square foot, state-of-the-art innovation center, which will serve as a central location for students, faculty, and businesses to share knowledge, gain experience, network, and stimulate ideas. As the first of six new groundbreaking developments that will comprise the SCI, the Innovation Center at The Crossings will pioneer the advancement of the city of Sacramento as a hub for local business, clean technology, bio-tech and bio-medical advancement. For additional information, please see: Sacramento Center for Innovation..

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Investment Advisors

Financing

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