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    1614 K Street

    Sacramento, CA 95814
    • $2,100,000
    • STATUS: Active
    • ON SITE: 19 days
    • MLS #: 20066234
    UPDATED: 47 min ago
    $2,100,000
    • 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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    © 2020 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 2020-11-25T13:50:07.94. 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: $2,100,000
    • Status: Active
    • Updated: 47 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

    Approx Elevation 0 Construction Wood Covered Parking Spaces 0 Exterior Stucco Miscellaneous Features Varies By Unit Parking Street Roof Flat/Low Pitch Stories 2 Style Contemporary Uncovered Parking Spaces 0

    Interior Features

    Air Refrig Wall Units Equipment Elect Water HeaterNone Floor Coverings CarpetLinoleum/VinylTileVaries By Unit Furnished None Heat Electric Kitchen Appliances Oven Elec B/IOven Elec F/SRange Elec B/IRefrigerator B/I Unit1 Bedrooms 0 Unit1 Full Baths 1 Unit1 Half Baths 0 Unit1 Sq Ft 1024 Unit2 Bedrooms 0 Unit2 Full Baths 1 Unit2 Half Baths 0 Unit2 Sq Ft 1024 Unit3 Bedrooms 0 Unit3 Full Baths 1 Unit3 Half Baths 0 Unit3 Sq Ft 1024 Unit4 Bedrooms 0 Unit4 Full Baths 1 Unit4 Half Baths 0 Unit4 Sq Ft 1024

    Property Features

    1 Bedroom Units 0 2 Bedroom Units 0 3 Bedroom Units 0 Amenities Public Trans NearbyVaries By UnitOther-Rmks CCRs No Cross Street Address 17th Street Disability Features Varies By Unit Energy Features None HOA No Hoa Dues 0 Individual Units 8 Multifamily Type 5 Or More Units Special Listing Condition None Studio Units 8 Tenant Pays ElectricRent Only Total Leasable 0 Unit1 Rent 1608 Unit2 Rent 1608 Unit3 Rent 1608 Unit4 Rent 1608 Year Remodeled 0 Zoning Rmx-Spd

    Listing provided courtesy of Ken Turton, Broker. Listing information © 2020 MetroList Services, Inc.


    © 2020 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 2020-11-25T13:50:07.94. 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