1024 2nd St - Apartments FOR SALE


Sacramento, CA 95814- Old Sacramento
$8,350,000 USD
916-955-1053
1024 2nd St, Sacramento, CA for Sale
$8,350,000 USD
Apartments - FOR SALE
1/14
null | 5.45% Cap Rate

1024 2nd St
Sacramento, CA 95814
Old Sacramento


HIGHLIGHTS

  • Mixed-Use Asset: 24 loft-style residential units above a ground-floor restaurant space
  • Actual Residential Price Per Unit: $277,000, after backing out the restaurant value (see financials for details).
  • Unique Loft Design: 16 units feature 13’–18’ ceilings; 8 two-story loft units
  • Outdoor Amenities: Many units include private balconies and/or rooftop terraces
  • Secure Access: Key fob-controlled elevator access to all floors
  • Institutional Ownership History: Developed in the mid-2000s and held by original ownership since 2008

OVERVIEW

The Orleans is a mixed-use property developed from the ground up in the mid-2000s and has remained under the same ownership since its completion in 2008. The property consists of 24 loft-style residential units above a ground-floor restaurant space. Residential units include 16 units with 13- to 18-foot ceilings and eight two-story lofts, many featuring private balconies and/or rooftop terraces. The property also includes secured underground parking with designated spaces and key fob elevator access to each floor. Strong underlying bones, complemented by nearly two decades of consistent ownership and proactive maintenance.

FOR SALE DETAILS

PRICE

$8,350,000 USD

PRICE/SF

$186 USD /SF

# OF UNITS

24

PRICE/UNIT

$347,917

CAP RATE

5.45%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Orleans | Mixed-Use Asset

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2008

PARKING SPACES

24

LAND DETAILS

LAND ACRES

0.27 AC

LAND SF

11,735 SF

ZONING

C-3

APN/PARCEL ID

006-0071-053

ASK ABOUT THIS PROPERTY

Michael BrodovskyBrodovsky Commercial Real EstateMore Info
916-955-1053

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Michael BrodovskyBrodovsky Commercial Real EstateMore Info
916-955-1053

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.