1700 V St, Sacramento, CA 95818
3 Unit Apartment Building | $1,050,000 ($350,000/Unit) | 4.50% Cap Rate | Sacramento, CA 95818
For Sale
Active
Asking Price $1,050,000
- Property Type
-
Multifamily
- Square Feet
- 3,590 SF
Listing Contacts
Kelly Rivett
Property Overview
Newmark, as the Exclusive Advisor, is pleased to present the opportunity to purchase 1700 V Street, Sacramento, California. This downtown residential mixed-use building is located on the Southeast corner of 17th and V and is comprised of four total units: one commercial unit (Nick’s Market), one studio apartment unit, and two 2-bedroom/ 1 bath apartment units. This 2-story building was constructed in +/-1940 (renovated 2024) and resides on a single .08/acre parcel. Seller may carry 1st Mortgage to a qualified Buyer.
Nick’s Market, a longtime neighborhood cornerstone market, occupies the ground floor commercial space and is approximately 1,390 square feet. Current tenant is paying $1,700/ month and the lease expires in January 2027 (no lease option). Tenant is responsible for their utilities, building maintenance and mechanicals. Cash flow will increase significantly once this lease expires, and a new lease is set at market rate and doubled.
Three apartment units occupy the remaining space within the building, with one studio on the ground floor and two 2-bedroom/1-bath units on the second story. The studio is approximately 400 square feet, and is occupied with a long-term tenant paying below market rent, currently at $800/month. There are two large 2-bedroom/ 1-bath units (900sf each) upstairs and both have been extensively remodeled (2024) including but not limited to: new central heat/air, dual pane windows, kitchen appliances, bathroom fixtures, paint, dual pane windows, recessed lighting, LVP flooring, hardware, and interior doors. The property is 100% occupied!
Nick’s Market, a longtime neighborhood cornerstone market, occupies the ground floor commercial space and is approximately 1,390 square feet. Current tenant is paying $1,700/ month and the lease expires in January 2027 (no lease option). Tenant is responsible for their utilities, building maintenance and mechanicals. Cash flow will increase significantly once this lease expires, and a new lease is set at market rate and doubled.
Three apartment units occupy the remaining space within the building, with one studio on the ground floor and two 2-bedroom/1-bath units on the second story. The studio is approximately 400 square feet, and is occupied with a long-term tenant paying below market rent, currently at $800/month. There are two large 2-bedroom/ 1-bath units (900sf each) upstairs and both have been extensively remodeled (2024) including but not limited to: new central heat/air, dual pane windows, kitchen appliances, bathroom fixtures, paint, dual pane windows, recessed lighting, LVP flooring, hardware, and interior doors. The property is 100% occupied!
Property Details
- Class
- B
- Year Built/Renovated
- 1900/2024
- Stories
- 2
- Property Subtype
- Storefront Retail/Residential
- Lot Size (sq. ft)
- 3,049 SF
- Units
- 3
Highlights
- A User/Investor Opportunity
- 2 Bedroom/1 Bath Units Remodeled 2024 | New Exterior Paint (May 2024)
- Commercial Lease - Income Upside
- Seller Carry Opportunity
- Walker’s Paradise (93)
- Within Blocks of Parks, Restaurants, Schools and Coffee Shops
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