1821 P St 16 Unit Apartment Building $2,050,000 ($128,125/Unit) 5.10% Cap Rate Sacramento, CA 95811

Price Reduced!
1819-1821 P Street features 16 total residential units priced at $128,000/door, spread across two separate structures measuring approx. 6,121 total square feet. The property includes twelve (12) studio units at 1819 P Street, which is a 4,890 square foot two-story building fronting P Street. The remaining four studio units are located at 1821 P Street, which is a 1,231 square foot two-story building located along Carriage Alley. The studio units average approximately 382 square feet each. Together, the two buildings are 100% leased and generating gross rents of approximately $14,205 per month with an average monthly rent per unit of $887 per unit. There is a large unused basement at 1821 P Street that includes a non-conforming one bedroom unit, a manager's office, laundry room, and ample storage that are not included in the total unit count. This is an easy value-add area to construct additional units or paid storage. The property is in a prime location in Midtown, just blocks from the Truitt Bark Park, Safeway Shopping Center, Ice Blocks, public transit, and dozens of other amenities. The property is now being offer at $2,050,000 or $128,125 per unit.