515 21st St - Apartments FOR SALE


Sacramento, CA 95811
$2,150,000 USD
916-573-3300
515 21st St, Sacramento, CA for Sale
$2,150,000 USD
Apartments - FOR SALE
1/36
null | 6.5% Cap Rate

515 21st St
Sacramento, CA 95811


HIGHLIGHTS

  • Recent price decrease! Most affordable housing in Midtown with reliable cash flow when fully leased
  • Two story building; 17 dorm-style studios, 2 shared kitchens, 3 shared bathrooms, and 1 shared laundry room
  • Recently renovated building with modern interior and exterior finishes
  • 6 covered parking stalls and abundant street parking
  • Walking and biking distance to many popular Midtown amenities
  • Seller financing possible

OVERVIEW

515 21st Street is located in Boulevard Park - a quiet and historic neighborhood in Midtown Sacramento esteemed for its original craftsman and colonial homes, spectacular tree canopy, and easy walking and biking distance to dozens of cafes, grocers, employers, bars, and venues. This property features a total building area of approximately 4,161 square feet, comprising a two-story building with 17 dorm-style studios, two shared kitchens, three shared bathrooms, and one shared laundry room. It also offers six covered parking stalls, in addition to abundant street parking. The building has undergone recent renovations, boasting modern interior and exterior finishes that enhance its appeal. Positioned as the most affordable housing option in Midtown, it promises reliable cash flow when fully leased. The location is highly desirable, within walking and biking distance to a variety of popular Midtown amenities. These include La Costa Cafe, New Roma Bakery, Target, Bonfare Market, Ace Hardware, The Mill Coffee, At Ease Brewing, among others, as well as several accessible bus stops, making it an attractive choice for tenants seeking convenience and affordability in a vibrant community.

FOR SALE DETAILS

PRICE

$2,150,000 USD

PRICE/SF

$396 USD /SF

# OF UNITS

17

PRICE/UNIT

$126,471

CAP RATE

6.5%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Midtown Manor Rooming House

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1968

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.1 AC

LAND SF

4,356 SF

ZONING

R-1B

APN/PARCEL ID

003-0132-001

ASK ABOUT THIS PROPERTY

Ken TurtonTurton Commercial Real EstateMore Info
916-573-3300

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Ken TurtonTurton Commercial Real EstateMore Info
916-573-3300

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