5652-5654 Broadway 2 Unit Apartment Building $950,000 ($475,000/Unit) 4.45% Cap Rate Sacramento, CA 95820

Turton Commercial is pleased to market for sale 5652-5654 Broadway (the “Property”), a two-parcel portfolio sale in the Tahoe Park neighborhood of Sacramento. The Property features a single-story duplex situated on a 12,800 square foot parcel of land plus an additional 6,400 square foot parcel of land located immediately behind the duplex. The interiors of both units were renovated in 2023 including new kitchens, bathrooms, flooring, lighting, and interior paint. Additionally, several “big ticket” capital improvements have been completed within the last ten years including the roof, gutters, dual pane windows, plumbing work, electrical wiring, exterior stucco, and exterior paint. The existing duplex is in very good condition and should not require any significant maintenance or repair for the foreseeable future. Each duplex unit is currently leased for $2,650.00 per month.
The duplex is situated on two contiguous parcels measuring approximately 19,200 square feet (.44 AC). The ownership has completed preliminary plans to construct 6 additional residential units on the residual land, which would increase the total residential count to 8 units. The six proposed units include one duplex (2 units) and four accessory dwelling units (ADUs) measuring 599 square feet, all featuring one bedroom and one bathroom. Since the ADUs are less than 600 square feet, the development process is streamlined, and development fees are significantly mitigated.

Perhaps no aspect of the Property is more valuable than the location though. The Property is located squarely in Tahoe Park, a predominately single-family residential neighborhood located adjacent to East Sacramento and Oak Park. The Property is located 0.2 miles (a five-minute walk) from Tahoe Park, a 19-acre public park that features large gathering areas, a community pool, softball and soccer fields, and a perimeter walking trail. The Property is also located less than 1 mile from Aggie Square, a state-of-the-art research and innovation hub located adjacent to UC Davis Medical Center. Aggie Square will feature 680,000 square feet of science, technology, and research space; a 50,000 square foot rehabilitation hospital; 120,000 square feet of classroom space; and 28,000 square feet of community space at a total cost of approximately $1.2 Billion. Aggie Square will employ thousands of highly paid and skilled professionals from all over the world, bringing an influx of qualified tenants and homeowners to the immediately surrounding area.