3206 Broadway
Sacramento, CA 95817
Oak Park Place Development Site · Land For Sale · 0.21 AC

Turton Commercial is pleased to present a prime infill site for sale offering fully-approved entitlements and shovel-ready plans for development project called Oak Park Place. 3206 Broadway (the “Subject Property”) consists of one parcel of vacant land approximately 9,409 square feet, zoned C-2. The Subject Property is fully entitled for a development project of three (3) story mixed use building with twenty- one (21) residential units and 1,980 square feet of retail/commercial space on the ground floor. The unit mix consists of thirteen (13) studios and eight (8) one-bedroom apartment homes. The Project also features eleven (11) tuck-under parking stalls. The Subject Property represents a rare opportunity to acquire land that is already entitled for a development project. The Building permits invoices are ready to be paid and the buyer can then start construction. Furthermore, if a buyer wishes, there is potential opportunity to increase density and revise the entitlements to build more than 21 units. Comparable new construction multifamily projects in urban Sacramento are four to six stories and are achieving rents in the $3.20 - $3.70 per square foot range. Current fair market rent for the units built on the Subject Property would be $3.00 per SF. Broadway is urban Sacramento’s fastest growing development corridor with thousands of units recently completed, under development, and planned for development. The Subject Property sits in the heart of Oak Park neighborhood, within a short walk or bike ride of more than 100 restaurants, bars, art galleries and entertainment venues. The Subject Property provides walk ability to the entire Sacramento urban core.