3000 T St - Apartments FOR SALE


Sacramento, CA 95816- East Sacramento
$2,845,000 USD
510-926-5026
3000 T St, Sacramento, CA for Sale
$2,845,000 USD
Apartments - FOR SALE
1/32
null | 5.73% Cap Rate

3000 T St
Sacramento, CA 95816
East Sacramento


HIGHLIGHTS

  • Newly completed adaptive reuse conversion delivering 10 multifamily units in Sacramento’s urban core
  • 100% occupied with lease-up completed following recent conversion
  • Low-maintenance asset following extensive retrofitting and modernization of major building systems
  • Desirable unit mix of studio, one, and two bedroom units designed to appeal to a broad tenant base seeking Midtown/East Sacramento living
  • Walkable, bike-friendly location with convenient connectivity to Downtown Sacramento, Highway 50, and regional transportation corridors
  • Located near major employment, retail, dining, and transportation amenities

OVERVIEW

Now offered at $2,845,000, with an aggregate price adjustment of $312,000, this newly completed office-to-residential conversion comprises 10 fully occupied units strategically located between Midtown and East Sacramento. The revised pricing represents a 5.73% cap rate based on actual in-place income, providing investors an opportunity to acquire a stabilized, cash-flowing asset at a compelling basis. The comprehensive conversion included significant retrofitting and modernization of the property’s major building systems, including MEP infrastructure and roof improvements. The result is a substantially repositioned, low-maintenance multifamily asset with limited near-term capital requirements and durable long-term investment fundamentals. The property was recently separated through a lot of split from an adjacent parcel located directly north of the subject property, which is currently advancing through the entitlement process for a proposed 28-unit multi-family development. The future development is expected to further enhance the immediate area through additional residential density, investment, and neighborhood activation while maintaining the subject property’s positioning within a growing urban infill corridor. The asset is strategically located with convenient access to Downtown Sacramento, Highway 50, Business 80, and major employment centers, including UC Davis Health, Sutter Health, Kaiser Permanente Sacramento Medical Center, and the State of California.

FOR SALE DETAILS

PRICE

$2,845,000 USD

PRICE/SF

$360 USD /SF

# OF UNITS

10

PRICE/UNIT

$284,500

CAP RATE

5.73%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Nelly

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1982

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,133 SF

ZONING

RO-SPD

APN/PARCEL ID

010-0131-025

ASK ABOUT THIS PROPERTY

Cherenna WrightPDF Group of CompaniesMore Info
510-926-5026

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Cherenna WrightPDF Group of CompaniesMore Info
510-926-5026

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