1520 Morse Avenue
Sacramento, CA 95864
Leasing Information
Leasing Phone:   877-312-0539
Leasing Fax:  916-971-9754
Jamboree’s Asbury Place family community building exterior Sacramento of Asbury Place
Jamboree’s Asbury Place family community computer center Sacramento of Asbury Place
Jamboree’s Asbury Place affordable family community pool Sacramento of Asbury Place
Jamboree’s Asbury Place affordable family community tot lot Sacramento of Asbury Place
Jamboree’s Asbury Place affordfamily community unit kitchen Sacramento of Asbury Place
Jamboree’s Asbury Place family community building exterior Sacramento of Asbury Place
Jamboree’s Asbury Place family community computer center Sacramento of Asbury Place
Jamboree’s Asbury Place affordable family community pool Sacramento of Asbury Place
Jamboree’s Asbury Place affordable family community tot lot Sacramento of Asbury Place
Jamboree’s Asbury Place affordfamily community unit kitchen Sacramento of Asbury Place

Joint Venture Preservation of Low-Income Housing

Acq/rehab of quality affordable housing, Sacramento, CA

Asbury Place is an acquisition/rehabilitation of an existing apartment community in Sacramento, CA. This joint venture with Capital Valley Investments – a market-rate real estate company with a stellar reputation and 30 years experience in California – resulted in the successful extensive renovation of a 1960s property that suffered from tremendous deferred maintenance and substandard housing conditions.

Cited by the Sacramento Housing and Redevelopment Agency as some of the worst property conditions ever seen, the main goal of the renovation was to return the apartment units to the rental market at affordable rent levels and elevate the quality of the community for existing residents. A total of 72 units were vacant and uninhabitable due to water intrusion and damage to the apartments at the time of acquisition. 

Extensive rehabilitation efforts included total replacement of the roofs, windows and siding. All unit interiors were renovated – including new kitchens and baths, the conversion of wall heating/AC to central HVAC, and the installation of washer/driers in all two-bedroom units. 

Asbury Place now features a brand new community center with a computer lab for onsite programs provided by Jamboree’s Community Impact Group, a tot lot, swimming pool, and landscape enhancements. This transit-oriented community is located minutes from downtown Sacramento in the Arden Manor neighborhood in Arden-Arcade, with nearby shopping, restaurants, schools, parks and public transportation.


Community Features
  • Clubhouse
  • Playground/tot lot
  • Swimming pool
  • Jacuzzi spa
  • Pet-friendly
  • Laundry facility
  • Onsite resident services

Asbury Place

1520 Morse Avenue
Sacramento, CA 95864
Map & Directions
Leasing Information
Leasing Phone:   877-312-0539
Leasing Fax:  916-971-9754
 

Details

Funding Sources
  • Alliant Capital: 4% tax credit investment
  • Citigroup: Permanent loan
  • SHRA: HOME funds
Construction Type
  • Rehabilitation
Construction Team
Building Type
Garden-style
Resident Type
Family
Year Built
  • Built: 1960
  • Rehab: 2009
Number of Units
104
Total Development Cost
$13.3 million
Area Median Income (AMI)
50% - 60%
Land Size
3.43 acres
Floor Plans
  • 15 One-bedroom: 570 sqft
  • 89 Two-bedroom: 885 sqft
Jamboree's Role
  • Joint venture partner
 
Partner View (Change to Resident)
Jamboree Housing Corporation
Jamboree Housing Corporation
17701 Cowan Ave, Suite 200
Irvine, CA 92614
(949) 263-8676
Contact Us
© Copyright 2018 Jamboree Housing Corporation. All Rights Reserved.
© Copyright 2018 Jamboree Housing Corporation.
All Rights Reserved.
Access for All Equal Housing Opportunity
Access for All Equal Housing Opportunity