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    1614 K Street

    Sacramento, CA 95814
    • $2,500,000
    • STATUS: Active
    • ON SITE: 155 days
    • MLS #: 20066234
    UPDATED: 42 min ago
    $2,500,000
    • 0
      BEDS
    • 0.29
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Type:
    Multi-Family
    Built:
    1997
    County:

    School Information

    Elementary School:
    Middle School:
    High School:
    School District:

    Description

    Value-add multifamily opportunity in the heart of Midtown, Sacramento. The Property features eight (8) studio artist lofts, each measuring approximately 1,024 square feet. Property is encumbered by an SHRA regulatory agreement, which caps rents at 110% of the current AMI or currently $1,608 per month. However, the regulatory agreement expires in October 2029, at which point the owner could, in theory, increase rents to market rate and significantly increase the annual return. Building has experienced incredibly stable tenancy over the last twenty-five years, with a waiting list of over 100 artists. When the rare vacancy does arise, it is generally pre-leased with about 2-3 days of downtime. All units feature 15' high ceilings, ample natural light, and an open kitchen/living concept. All four ground floor units feature a roll up door, opening the unit to the interior courtyard. This listing is for building only; rear parking lot (6,400SF) is available for an additional $400,000.

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    © 2021 MetroList® MLS. All rights reserved. All measurements and all calculations of area are approximate. Information provided by Seller/Other sources, not verified by Broker. All interested persons should independently verify accuracy of information. Provided properties may or may not be listed by the office/agent presenting the information. Data last updated 2021-04-10T17:39:06.54. MetroList® MLS Terms of Use. IDX provided by BoomTown.
    www.themacdonaldgroup.com/homes/111638962
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    1614 K Street Sacramento, CA 95814

    • Price: $2,500,000
    • Status: Active
    • Updated: 42 min ago
    • MLS #: 20066234
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.29
    Acres
    1997
    Built
    Neighborhood:
    Sacramento Downtown/Midtown
    County:
    Sacramento
    Area:
    Sacramento Downtown/Midtown
    Elementary School:
    Sacramento Unified
    Middle School:
    Sacramento Unified
    High School:
    Sacramento Unified
    School District:
    Sacramento
    Property Description
    Value-add multifamily opportunity in the heart of Midtown, Sacramento. The Property features eight (8) studio artist lofts, each measuring approximately 1,024 square feet. Property is encumbered by an SHRA regulatory agreement, which caps rents at 110% of the current AMI or currently $1,608 per month. However, the regulatory agreement expires in October 2029, at which point the owner could, in theory, increase rents to market rate and significantly increase the annual return. Building has experienced incredibly stable tenancy over the last twenty-five years, with a waiting list of over 100 artists. When the rare vacancy does arise, it is generally pre-leased with about 2-3 days of downtime. All units feature 15' high ceilings, ample natural light, and an open kitchen/living concept. All four ground floor units feature a roll up door, opening the unit to the interior courtyard. This listing is for building only; rear parking lot (6,400SF) is available for an additional $400,000.
    Exterior Features

    Architectural Style Contemporary Carport Spaces 0 Construction Materials StuccoWood Covered Spaces 0 Foundation Slab Independent Parking Spaces 0 Lot Features None Num Of Floors 0 Num Of Guest Spaces 0 Open Parking Spaces 0 Parking Features Street Patio And Porch Features Varies By Unit Roof Flat Tandem Parking Spaces 0 Total Parking Spaces 0 View Description City

    Interior Features

    Appliances Built-In Electric OvenBuilt-In Electric RangeBuilt-In RefrigeratorElectric Water HeaterFree Standing Electric Oven Cooling Wall Unit(S) Flooring CarpetTileVaries By Unit Heating Electric Laundry Features Other Num Of Rooms 0 Num Of Studio Units 8 Num Of1 Bedroom Units 0 Num Of2 Bedroom Units 0 Num Of3 Bedroom Units 0 Num Of4 Bedroom Units 0 Unit1 Approx Sq Ft 1024 Unit1 Bedrooms 0 Unit1 Full Baths 1 Unit1 Partial Baths 0 Unit1 Rent 1608 Unit1 Rooms 0 Unit2 Approx Sq Ft 1024 Unit2 Bedrooms 1 Unit2 Full Baths 1 Unit2 Partial Baths 0 Unit2 Rent 1608 Unit2 Rooms 0 Unit3 Approx Sq Ft 1024 Unit3 Bedrooms 0 Unit3 Full Baths 1 Unit3 Partial Baths 0 Unit3 Rent 1608 Unit3 Rooms 0 Unit4 Approx Sq Ft 1024 Unit4 Bedrooms 0 Unit4 Full Baths 1 Unit4 Partial Baths 0 Unit4 Rent 1608 Unit4 Rooms 0 Units Furnished None

    Property Features

    1 Bedroom Annual Occupancy 0 2 Bedroom Annual Occupancy 0 3 Bedroom Annual Occupancy 0 4 Bedroom Annual Occupancy 0 Accessibility Features Varies By Unit Association Fee 0 Association YN No Electric 220 Volts Elevation 0 Income Includes Rent Only Irrigation Other Lease Deposit 0 Num Of Commercial Units 0 Operating Expense Includes AdvertisingProfessional ManagementProperty TaxRent/LeaseRepairsInsuranceTrashUtilities Other Equipment None Property Subtype 5 Or More Units Property Type Residential Income Sewer Public Sewer Special Listing Conditions None Studio Annual Occupancy 0 Subtype Description Apartments Tenant Pays Rent OnlyElectricity Utilities Other Water Source Meter On Site Zoning Rmx-Spd

    Listing provided courtesy of Ken Turton, Broker. Listing information © 2021 MetroList Services, Inc.


    © 2021 MetroList® MLS. All rights reserved. All measurements and all calculations of area are approximate. Information provided by Seller/Other sources, not verified by Broker. All interested persons should independently verify accuracy of information. Provided properties may or may not be listed by the office/agent presenting the information. Data last updated 2021-04-10T17:39:06.54. MetroList® MLS Terms of Use. IDX provided by BoomTown.
     
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    The MacDonald Group at PMZ Real Estate
    1200 E. Orangeburg Ave Suite #202
    Modesto CA, 95350