1614 K Street Sacramento, CA 95814




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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.


State: CA

County: Sacramento

Zoning: RMX-SPD


Heating: Electric

Cooling: Wall Unit(s)

Flooring: Carpet,Tile,Varies by Unit


Garage: Street

Utilities Available: Other

Roof Type: Flat

Parking Type: Street


Lot Description: None

Foundation: Slab

Sewer: Public Sewer

Water: Meter on Site

Architectural Style: Contemporary


Elementary Schools: Sacramento Unified

Middle Schools: Sacramento Unified

High Schools: Sacramento Unified

School District: Sacramento


Special Sale: None

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Listing provided by  Ken Turton, Broker

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    Jim Amen Amen Real Estate
    Jim Amen

    Broker License ID: 01841461

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