Elvas Avenue Apartments 6329 Elvas Avenue

CBRE is pleased to present the opportunity to acquire a prime ±0.76-acre campus-adjacent student housing land site located at 6325 and 6329 Elvas Avenue in Sacramento, California. Located less than 250 feet from the student pedestrian tunnel, the irreplaceable site provides immediate access to California State University Sacramento, making it an exceptional location to meet the growing need for high density student housing. The site is also situated just steps away from several popular retail options like Trader Joe’s, Starbucks, Jamba Juice, Subway, Dos Coyotes and other walkable local dining options. Sac State has experienced exponential growth over the last 20-years including increasing enrollment by 11% while investing over $385M in infrastructure upgrades; however the current housing landscape is insufficient to support the 31,500+ student population. Currently, there are just 3,200 beds available for students looking to live on campus, leaving almost a 10:1 student to bed ratio. Given the shortage of available student housing, there is exceptionally strong demand for nearby off-campus housing options. Current plans have been approved for a six-story, 94,926 square-foot building with 60 units and 283 beds. The Elvas Avenue land site is one of the most unique acquisition opportunities for an investor in the market today.