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.