2416 S St - Apartments FOR SALE


Sacramento, CA 95816- Newton Booth
$3,100,000 USD
916-561-0204
2416 S St, Sacramento, CA for Sale
$3,100,000 USD
Apartments - FOR SALE
1/33
null | 5.25% Cap Rate

2416 S St
Sacramento, CA 95816
Newton Booth


HIGHLIGHTS

  • Highly Desirable Midtown Location
  • 1972 Construction, same ownership since 1991
  • Turn Key Condition

OVERVIEW

Brittain Commercial is pleased to present 2416–2420 S Street, a 16-unit apartment community located in the prime Newton Booth submarket of Midtown Sacramento. Positioned in one of Sacramento’s most desirable neighborhoods, the property offers residents unmatched convenience and a vibrant lifestyle. Current residents enjoy proximity to Sutter’s Fort State Historical Park, Sutter Medical Center, Temple Coffee, Sacramento Natural Foods Co-op, the Light Rail system, Downtown Sacramento, and California State University, Sacramento. The community is surrounded by eclectic dining, live music venues, art galleries, and boutique shopping—placing residents at the heart of Midtown’s energy. Easy freeway access further enhances connectivity throughout the region. Upscale Property with Tremendous Potential Under the same ownership since 1991, the property has been exceptionally maintained. The majority of units have been upgraded and are achieving market rents, while seven long-term tenancy units remain unrenovated, providing substantial upside through interior improvements and lease adjustments. This loss-to-lease opportunity positions new ownership to significantly enhance NOI. There are 9 off-street parking spaces that can be rented separately for additional income. Common area maintenance fee of $35 per unit is currently in place. As Sacramento continues to see robust population growth, strong rental demand, and rising property values, 2416-2420 S Street presents an exceptional opportunity to secure a stabilized, well-located asset with meaningful value-add potential in one of the region’s most dynamic rental markets.

FOR SALE DETAILS

PRICE

$3,100,000 USD

PRICE/SF

$467 USD /SF

# OF UNITS

16

PRICE/UNIT

$193,750

CAP RATE

5.25%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1972

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

13,068 SF

ZONING

R-3A

APN/PARCEL ID

010-0042-006

ASK ABOUT THIS PROPERTY

Jim DrazenovichBrittain CommercialMore Info
916-561-0204

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Jim DrazenovichBrittain CommercialMore Info
916-561-0204

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