5940 Rye Way, Carmichael, CA 95608, Carmichael, 95608 - 0 bed, 0 bath
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Carmichael, CA 95608
This Turnkey Residential Income Duplex is listed at $615,000, representing a stable acquisition priced right at its $607,695 Fair Market Value. Boasting a Good Condition Rating, the property features 2019 Kitchen and Bathroom Remodels and Updated HVAC Systems, significantly reducing immediate capital needs. The asset is 100% occupied with month-to-month leases, offering immediate stability and significant rental upside. Located near the I-80 corridor and zoned for Thomas Kelly Elementary and Del Campo High, this is a strategic acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a low-maintenance, income-generating asset.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5940 Rye Way Subject | $615,000* List Price | 0 | 0 | 2,118 | $287 | - |
A 5932 Bourbon Drive Sold | $646,000 | 4 | 3 | 2,118 | $305 | 0.1 mi |
B 5928 Bourbon Drive Sold | $675,000 | 5 | 4 | 2,452 | $275 | 0.1 mi |
C 6001 Bourbon Drive Sold | $640,000 | 4 | 3 | 2,047 | $313 | 0.1 mi |
D 5908 Bourbon Drive Active | $640,000 List Price | 4 | 0 | 2,118 | $302 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property is described as being in turnkey condition with significant capital improvements, including full kitchen and bathroom remodels in 2019 and HVAC updates in 2014 and 2023. While the 2019 renovations fall within the 5-year window for 'excellent,' the 1977 build date, 10-year-old exterior paint, and standard architectural features visible in the images suggest a well-maintained 'good' condition rather than a brand-new or fully modernized 'excellent' status. It is move-in ready with no immediate renovation required.
Extensive recent capital improvements, including 2019 kitchen and bathroom remodels and updated HVAC systems, significantly reduce the need for immediate maintenance capital.
The property is 100% occupied by long-term tenants on month-to-month leases, providing immediate stability while allowing a new owner to quickly adjust rents to market rates.
Located in a high-demand rental pocket near the I-80 corridor and Crestview Village Shopping Center, the property offers excellent accessibility and convenience for tenants.
The property is zoned for several schools with low ratings, such as Thomas Kelly Elementary (2/10), which may limit appeal for families with school-aged children.
While the units are well-maintained, the 1977 construction date suggests that underlying systems not covered by recent updates may require attention as the building continues to age.
Newmark, as the exclusive advisor, is pleased to present the opportunity to acquire 5940-5942 Rye Way, a well-maintained duplex in the heart of Carmichael. Priced at $615,000, this 1977-built property features a 1,134 SF 2-bedroom/2-bathroom unit and a 984 SF 2-bedroom/1-bathroom unit. The asset is 100% occupied by long-term tenants on month-to-month leases, offering immediate stability with significant rental upside. The property is in turnkey condition following a series of recent capital improvements, including full kitchen and bathroom remodels in 2019, HVAC updates in 2014 and 2023, and a full exterior paint refresh in 2014. These upgrades minimize near-term maintenance costs for a new owner. Located near the Crestview Village Shopping Center and the I-80 corridor, this duplex is a rare, low-maintenance investment in a high-demand rental pocket. Notably, this property can be purchased individually or as part of a three-duplex portfolio, as the seller is also offering 5904-5906 Bourbon Way and 5908-5910 Bourbon Way located just around the corner.
No exterior & parking available.
Grades K-5 • 0.4 mi
Grades K-5 • 0.7 mi
Grades K-6 • 1.3 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 4.0 | 11% |
| Baths | 0.0 | 3.0 | 11% |
| Square foot | 2,118 | 2,118 | 50% |
| Lot Size | 6,534 | 7,776 | 22% |
| Price | $615.0K | $640.0K | 44% |
| Price per sq ft | $290 | $305 | 44% |
| Built year | 1977 | 1977 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 20 | 93 | 11% |
Apr 2, 2026
$615,000
Initial Listing
May 1, 2000
$145,000
Public Record