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Rio Terrace Apartments 2811 F St 29 Unit Apartment Building $5,775,000 ($199,138/Unit) 4.55% Cap Rate Sacramento, CA 95816
Investment Highlights
- 30+ Year Ownership - Property Has Been Meticulously Maintained and Upgraded
- Value Add Opportunity Through More Aggressive Management and Turnover - Loss to Lease Upside of Approximately 15%
- 12 Gated Off Street Parking Spaces - Onsite Laundry - Large Common Areas Lined by Mature Landscaping
Executive Summary
Marcus & Millichap is pleased to present Rio Terrace Apartments, a well-maintained 29-unit multifamily community located in the heart of Sacramento’s highly desirable Midtown neighborhood. The property offers a mix of studio, one-, and two-bedroom floor plans with an average unit size of approximately 600 rentable square feet.
Rio Terrace represents a rare opportunity to acquire a stabilized asset with proven rental upside in one of the most sought-after submarkets in the region. Long-term ownership has systematically renovated units upon turnover, investing heavily in high-quality finishes. Renovated units feature restored original hardwood floors, quartz countertops, custom decorative cabinetry, stainless steel appliances, and dual-pane windows throughout.
The property distinguishes itself from competing assets by offering gated off-street parking, on-site laundry facilities, and a spacious courtyard with mature landscaping, amenities that are increasingly rare in Midtown. One studio unit is currently utilized as a management office; converting this unit back to residential use provides the next owner with immediate income upside.
Additionally, Rio Terrace is situated on three separate parcels, presenting a savvy investor with the potential opportunity to subdivide the property and implement a flexible exit strategy. With rental demand remaining strong in Sacramento, the asset’s A+ location further benefits from walkable access to major employment and lifestyle drivers, including Golden 1 Center, DOCO, Sutter Medical Center, and the Railyards Project, the largest urban infill development in the United States.
Rio Terrace represents a rare opportunity to acquire a stabilized asset with proven rental upside in one of the most sought-after submarkets in the region. Long-term ownership has systematically renovated units upon turnover, investing heavily in high-quality finishes. Renovated units feature restored original hardwood floors, quartz countertops, custom decorative cabinetry, stainless steel appliances, and dual-pane windows throughout.
The property distinguishes itself from competing assets by offering gated off-street parking, on-site laundry facilities, and a spacious courtyard with mature landscaping, amenities that are increasingly rare in Midtown. One studio unit is currently utilized as a management office; converting this unit back to residential use provides the next owner with immediate income upside.
Additionally, Rio Terrace is situated on three separate parcels, presenting a savvy investor with the potential opportunity to subdivide the property and implement a flexible exit strategy. With rental demand remaining strong in Sacramento, the asset’s A+ location further benefits from walkable access to major employment and lifestyle drivers, including Golden 1 Center, DOCO, Sutter Medical Center, and the Railyards Project, the largest urban infill development in the United States.
Property Facts
| Price | $5,775,000 | Apartment Style | Low-Rise |
| Price Per Unit | $199,138 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.44 AC |
| Cap Rate | 4.55% | Building Size | 26,300 SF |
| No. Units | 29 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1955 |
| Property Subtype | Apartment | Parking Ratio | 0.45/1,000 SF |
| Zoning | R1B, Sacramento | ||
| Price | $5,775,000 |
| Price Per Unit | $199,138 |
| Sale Type | Investment |
| Cap Rate | 4.55% |
| No. Units | 29 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.44 AC |
| Building Size | 26,300 SF |
| No. Stories | 2 |
| Year Built | 1955 |
| Parking Ratio | 0.45/1,000 SF |
| Zoning | R1B, Sacramento |
Amenities
Unit Amenities
- Disposal
- Oven
- Range
Site Amenities
- Laundry Facilities
- Grill
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 21 | - | 900 |
| 2+1 | 4 | - | 1,100 |
Walk Score®
Very Walkable (86)
Bike Score®
Biker's Paradise (99)
Property Taxes
| Parcel Numbers | Improvements Assessment | $1,330,293 | |
| Land Assessment | $189,754 | Total Assessment | $1,520,047 |
Property Taxes
Parcel Numbers
Land Assessment
$189,754
Improvements Assessment
$1,330,293
Total Assessment
$1,520,047
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Rio Terrace Apartments | 2811 F St
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