820 S Street Active Save Request In-Person Tour Request Virtual Tour
Sacramento,CA 95811
Key Details
Property Type Multi-Family
Sub Type 5 or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 34,194 sqft
Price per Sqft $584
MLS Listing ID 225083733
HOA Y/N No
Year Built 2023
Lot Size 0.633 Acres
Acres 0.6332
Property Sub-Type 5 or More Units
Source MLS Metrolist
Property Description
820 S Street is a mixed-use multifamily asset for sale in the heart of Downtown Sacramento. The 34,194 SF property was constructed in 2023 by Fulcrum Property and is currently 98% leased. The property features 72 residential units comprised of 58 studios, 7 one-bedroom units, and 7 two-bedroom units across three floors. The property also features a ground floor retail space leased to Tupi Coffee, a popular Brazilian coffee shop and restaurant. The studio and one-bedroom units are income restricted to 80% of AMI; however, the owner receives a property tax exemption for all studio and one-bedroom units (property taxes only paid on assessed value of 2bed units and retail). The property is being offered at $20,000,000 or $259k per unit which represents a 5.14% cap rate on proforma income and expenses. Qualified buyers may assume a $13.2mm existing loan with maturation in August 2034 and fixed interest rate of 5.435%. AAA location along the R Street corridor, just blocks from Southside Park, .7 miles from the State Capitol and 1.2 miles from Golden 1 Arena/DoCo. Property has 15 on-site parking stalls, on-site gym and management, patio/outdoor balconies in each unit, and large ground floor community area. This is a true core asset!
Location
State CA
County Sacramento
Area 10811
Direction Located at the corner of 8th and S Streets. Plenty of street parking surrounding the building.
Interior
Heating Ductless
Cooling Ductless
Flooring Concrete
Laundry Coin Operated,In Common Area
Exterior
Parking Features Attached,Open
Utilities Available City,Electric
Water Access Desc Public
Roof Type Flat
Porch Balcony/Deck,Varies by Unit
Total Parking Spaces 15
Building
Lot Description Corner
Foundation Concrete
Sewer Public Sewer
Water Public
Architectural Style Modern/High Tech
Schools
Elementary Schools Sacramento Unified
Middle Schools Sacramento Unified
High Schools Sacramento Unified
School District Sacramento
Others
Senior Community No
Tax ID 009-0066-012-0000
Special Listing Condition None