1614 K Street Sacramento, CA 95814
UPDATED:  
Favorite
2500000
/mo

100Beds

4Baths

-1SqFt

when would you like to view

this property?

ASAP

Please select your preferred date.

Jim Amen

Schedule an obligation free tour to see this property

Key Details

Property Type: Multi-Family

Sub Type: 5 or More Units

Listing Status: Active

Purchase Type: For Sale

Lot Size: 0.294 Acres

Year Built: 1997

MLS Listing ID: 20066234

Bedrooms: 100

HOA Y/N: Yes

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.

Location

State: CA

County: Sacramento

Zoning: RMX-SPD

Interior

Heating: Electric

Cooling: Wall Unit(s)

Flooring: Carpet,Tile,Varies by Unit

Exterior

Garage: Street

Utilities Available: Other

Roof Type: Flat

Parking Type: Street

Building

Lot Description: None

Foundation: Slab

Sewer: Public Sewer

Water: Meter on Site

Architectural Style: Contemporary

Schools

Elementary Schools: Sacramento Unified

Middle Schools: Sacramento Unified

High Schools: Sacramento Unified

School District: Sacramento

Others

Special Sale: None

Read More Info

Read Less Info

Listing provided by  Ken Turton, Broker

Read More Info

Read Less Info

Nearby School & Properties

School data provided by GreatSchools for your convenience. Please contact schools directly for enrollment eligibility.

PROPERTY HISTORY

Date Event Price Source

    Neighborhood Demographic

    Similar HomesUnlike ?

    Get More Information


    Jim Amen Amen Real Estate
    Jim Amen

    Broker License ID: 01841461

    We respect your privacy! Your information WILL NOT BE SHARED, SOLD, or RENTED to anyone, for any reason outside the course of normal real estate exchange. By submitting, you agree to our Terms of Use and Privacy Policy.

    Jim Amen

    Please let me know how I can help you.