Log In/Sign Up
Your email has been sent.
1821 P St 14 Unit Apartment Building $2,050,000 ($146,429/Unit) 6.02% Cap Rate Sacramento, CA 95811
INVESTMENT HIGHLIGHTS
- Value-add Multifamily opportunity in Midtown, Sacramento
- Large basement with two vacant non-conforming units
- Great walkable location, 2 blocks from the Truitt Bark Park, Ice Blocks and Safeway shopping center
- 14 residential units across two separate buildings
- Aggressively priced at $2,050,000 or $146,000 per unit
EXECUTIVE SUMMARY
Price Reduced!
1819-1821 P Street includes 14 total units across two separate structures measuring approximately 6,121 total square feet with an average unit size of approximately 437 square feet. The property includes ten (10) residential units at 1819 P Street, which is a 4,890 square foot two-story building facing P Street. The ten units include two, 1 bedroom and 1-bathroom units and eight studio units. The remaining four (4) studio units are located at 1821 P Street, which is a 1,231 square foot two-story building located along Carriage Path Alley to the north. There is a large basement that includes a vacant non-confirming 1-bedroom unit, a manager's office, coin-operating laundry, and ample storage. We have not applied any value to the underutilized basement, which could be renovated to add at least two more residential units.
The property is now being offer at $2,050,000 or $146,000 per unit. The two structures are 100% leased and generating gross rent of approximately $15,070 per month. All 14 units are eligible for the maximum 7.7% annual rent increase on January 1, 2026 which would increase the gross monthly rent to approximately $16,132 per month. The advertised cap rate of 6.02% reflects the annual return after rents have been increased on the first of the year.
1819-1821 P Street includes 14 total units across two separate structures measuring approximately 6,121 total square feet with an average unit size of approximately 437 square feet. The property includes ten (10) residential units at 1819 P Street, which is a 4,890 square foot two-story building facing P Street. The ten units include two, 1 bedroom and 1-bathroom units and eight studio units. The remaining four (4) studio units are located at 1821 P Street, which is a 1,231 square foot two-story building located along Carriage Path Alley to the north. There is a large basement that includes a vacant non-confirming 1-bedroom unit, a manager's office, coin-operating laundry, and ample storage. We have not applied any value to the underutilized basement, which could be renovated to add at least two more residential units.
The property is now being offer at $2,050,000 or $146,000 per unit. The two structures are 100% leased and generating gross rent of approximately $15,070 per month. All 14 units are eligible for the maximum 7.7% annual rent increase on January 1, 2026 which would increase the gross monthly rent to approximately $16,132 per month. The advertised cap rate of 6.02% reflects the annual return after rents have been increased on the first of the year.
PROPERTY FACTS
| Price | $2,050,000 | Apartment Style | Low-Rise |
| Price Per Unit | $146,429 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.29 AC |
| Cap Rate | 6.02% | Building Size | 6,121 SF |
| No. Units | 14 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1910 |
| Zoning | R-3A-SPD - Multi-family Residential | ||
| Price | $2,050,000 |
| Price Per Unit | $146,429 |
| Sale Type | Investment |
| Cap Rate | 6.02% |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.29 AC |
| Building Size | 6,121 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1910 |
| Zoning | R-3A-SPD - Multi-family Residential |
AMENITIES
UNIT AMENITIES
- Cable Ready
- Heating
- Kitchen
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 12 | - | 600 - 700 |
| 1+1 | 2 | - | - |
1 1
Walk Score®
Walker's Paradise (96)
Bike Score®
Biker's Paradise (99)
PROPERTY TAXES
| Parcel Number | 007-0242-019 | Improvements Assessment | $611,771 |
| Land Assessment | $135,602 | Total Assessment | $747,373 |
PROPERTY TAXES
Parcel Number
007-0242-019
Land Assessment
$135,602
Improvements Assessment
$611,771
Total Assessment
$747,373
1 of 23
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
1821 P St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.