Marcus & Millichap is pleased to present 2615 H Street in Sacramento, California. Constructed in 1960, the building consists of 13 units. The unit mix is comprised of 12 one-bedroom/one-bathroom units at approximately 540 square feet, and one two-bedroom/one-bathroom unit at approximately 705 square feet. The rents at the property are currently below market, giving a new investor the opportunity to add value immediately. The Sacramento area continues to remain housing supply constrained with vacancy at historical lows.
2615 H Street is located in the desirable Midtown neighborhood of Sacramento. The property has a 91 walk score which is considered a Walkers paradise, and is within minutes walking distance of Sutter Medical Center, McKinley Park, and the Sacramento Natural Foods Co-Op. Downtown and Midtown Sacramento are experiencing unprecedented growth in both residential and commercial development. The construction of the $558-million Sacramento Entertainment and Sports Complex (ESC) has created a swell of activity and attracted the interest of investors and developers not previously active in this market. The immediate area is undergoing an immense revitalization with the new Railyards and Ice Blocks redevelopment projects. Anchored by Kaiser Hospital's new 400,000 square-foot, $1-billion development, the Railyards will be a mixed-use hub for entertainment, retail, housing, office, theaters, parks, hotels, and museums. The Ice Blocks is a three-block development in Midtown Sacramento consisting of 150 residential units, 60,000 square feet of retail, and 50,000 square feet of offices. The Downtown market will continue to experience high demand for rental housing as Sacramento continues its urban revitalization trend. Due to the strength of this rental market, 2615 H Street is well positioned for long-term appreciation and consistent cash flow.
****CAP RATE IS PRO-FORMA
