2390-2398 Oakmont St 6 Unit Apartment Building $1,200,000 ($200,000/Unit) 5.36% Cap Rate Sacramento, CA 95815

Team Singh at Applied Commercial presents 2398 Oakmont St, a rare two-building, six-unit multifamily offering on a single 6,177 SF (0.1418-acre) lot in Sacramento's Old North Sacramento submarket. The property combines a 4-unit apartment building with a detached duplex, totaling 3,230 SF of rentable area — a configuration that gives a buyer flexibility on financing, management, and future exit (potential to sell or finance the buildings separately down the road, subject to lot/legal review).
Built in 1961, the asset has been extensively renovated over the last five years, with most units updated with new flooring, kitchens, bathrooms, and lighting. The result is a turnkey hold with minimal near-term capital needs and rents that remain below current market levels — giving the next owner embedded upside through lease-up at market rents as the current rent roll turns over.
Property Overview
Total Units: 6 (4-unit building + detached duplex)
Unit Mix: Five 1BR/1BA units, one 2BR/1BA unit
Building Size: 3,230 SF across two structures
Lot Size: 6,177 SF (0.1418 AC)
Year Built: 1961
Construction: Wood frame, composition roof
Heating/Cooling: Wall furnace, wall & window units
Water/Sewer: Public
Parking: 6 spaces
Zoning: R-1
APN: 275-0103-025-0000
Current Rent Roll
Unit Building Floor Plan Monthly Rent
1 4-Plex 1BR/1BA $1,250
2 4-Plex 1BR/1BA $1,250
3 4-Plex 1BR/1BA $1,250
4 4-Plex 1BR/1BA $1,250
5 Duplex 2BR/1BA $1,550
6 Duplex 1BR/1BA $1,350
Total Monthly Rent: $7,900 | Gross Scheduled Income: $94,800/yr
Financial Summary
Gross Scheduled Income: $94,800
Total Operating Expenses: $25,800/yr
Net Operating Income: $69,000
Cap Rate: 5.75%
GRM: 12.66x
Price/Unit: $200,000
Price/SF: $371.52
Operating expenses reflect owner-provided figures (water, management, insurance, property tax at current assessment). Buyer to independently verify all rents, expenses, square footage, unit mix, and property tax liability (subject to reassessment at sale price) during due diligence.
Investment Highlights
Two-building configuration on one lot adds financing, management, and exit flexibility
Recent capital improvements across most units minimize near-term capex exposure
Current rents below market — clear, near-term upside for the next owner through natural turnover
Historically strong occupancy in a high-demand Sacramento rental submarket
Walkable to Business 80, Highway 99/50, and the Royal Oaks light rail station
Minutes to Downtown/Midtown Sacramento, Cal Expo, and Arden Fair Mall
Located near Arden Way and Del Paso Blvd in Old North Sacramento, the property gives tenants convenient access to daily amenities and regional destinations. Nearby retail and dining centers, plus Discovery Park, the American River, Bannon Creek Parkway, and Governor's Mansion State Historic Park, support strong tenant demand. Commuters benefit from quick access to Business 80, Highway 99, and Highway 50, keeping Downtown/Midtown Sacramento within easy reach, with the Royal Oaks light rail station nearby for transit-oriented renters. Kaiser Foundation Hospital – Sacramento and Sacramento International Airport are both easily accessible, and Sacramento City College, American River College, and Sacramento State are all a short drive away — supporting a deep, diverse tenant demand base.