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The Orleans | Mixed-Use Asset 1024 2nd St 24 Unit Apartment Building $8,350,000 ($347,917/Unit) 5.45% Cap Rate Sacramento, CA 95814
Investment Highlights
- Mixed-Use Asset: 24 loft-style residential units above a ground-floor restaurant space
- Unique Loft Design: 16 units feature 13’–18’ ceilings; 8 two-story loft units
- Secure Access: Key fob-controlled elevator access to all floors
- Actual Residential Price Per Unit: $277,000, after backing out the restaurant value (see financials for details).
- Outdoor Amenities: Many units include private balconies and/or rooftop terraces
- Institutional Ownership History: Developed in the mid-2000s and held by original ownership since 2008
Executive Summary
The Orleans is a mixed-use property developed from the ground up in the mid-2000s and has remained under the same ownership since its completion in 2008. The property consists of 24 loft-style residential units above a ground-floor restaurant space. Residential units include 16 units with 13- to 18-foot ceilings and eight two-story lofts, many featuring private balconies and/or rooftop terraces. The property also includes secured underground parking with designated spaces and key fob elevator access to each floor.
Strong underlying bones, complemented by nearly two decades of consistent ownership and proactive maintenance.
Strong underlying bones, complemented by nearly two decades of consistent ownership and proactive maintenance.
Data Room Click Here to Access
Property Facts
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Heating
- Kitchen
- Hardwood Floors
- Vaulted Ceiling
- High Speed Internet Access
- Walk-In Closets
- Carpet
Site Amenities
- Controlled Access
- On-Site Retail
- Recycling
- Vintage Building
- Elevator
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | - | 807 |
| 1+1 | 14 | - | 668 - 775 |
| 1+2 | 8 | - | 737 - 855 |
Exceptionally walkable
90/100
Very drivable
80/100
Good public transit
60/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 006-0071-053 | Improvements Assessment | $8,115,120 |
| Land Assessment | $1,040,400 | Total Assessment | $9,155,520 |
Property Taxes
Parcel Number
006-0071-053
Land Assessment
$1,040,400
Improvements Assessment
$8,115,120
Total Assessment
$9,155,520
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The Orleans | Mixed-Use Asset | 1024 2nd St
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