Views
Address
1614 K Street Sacramento, CA
Price
$ 2,500,000
Property Attributes
  • MLS#20066234
  • TypeIncome
  • CountySACRAMENTO
  • CitySacramento
  • Area10814
  • Zip95814
  • StyleContemporary
  • Price$ 2,500,000
  • Bedrooms1
  • Full Bathrooms4
  • Half Bathrooms0
  • Lot Size12,798 SqFt
Listing Provided Courtesy Of:
Zachary W. Hooker CalBRE# - 02013574 with Ken Turton, Broker
Data Source:
California Metrolist Inc
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.

Price History
11/5/2020 Listed $2,100,000

General Features

Accessibility Varies By Unit
Appliances Built-In Electric Oven, Built-In Electric Range, Built-In Refrigerator, Electric Water Heater, Free Standing Electric Oven
Architectural Style Contemporary
Association Y/N No
Construction Materials Stucco, Wood
Cooling Wall Unit(s)
Electric 220 Volts
Elementary School District Sacramento Unified
Flooring Carpet, Tile, Varies by Unit
Heating Electric
High School District Sacramento Unified
MLS Area 10814
Parking Features Street
Patio/Porch Features Varies by Unit
Property SubType 5 or More Units
Property Type Residential Income
Roof Flat
School District (county) Sacramento
Sewer Public Sewer
Status Active
Subtype Description Apartments
Total Units 8
View City
Zoning Description RMX-SPD

Interior Features

Furnished Units None
Laundry Features Other
Total Stories 2
Unit 1 Approx Sqft 1024
Unit 1 Full Baths 1
Unit 1 Rent 1608
Unit 1 Sqft Source Tax Record
Unit 2 Approx Sqft 1024
Unit 2 Bedrooms 1
Unit 2 Full Baths 1
Unit 2 Sqft Source Tax Record
Unit 3 Approx Sqft 1024
Unit 3 Full Baths 1
Unit 4 Approx Sqft 1024
Unit 4 Full Baths 1
Unit 4 Sqft Source Tax Record
Unittypestudiounitstotal 8

Exterior Features

Foundation Details Slab
Lot Features None
Lot Size Acres 0.2938
Lot Size Source Assessor Agent-Fill
Lot Size Square Feet 12800
Number of Buildings 2
Otherequipment None
Water Source Meter on Site

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 95814

Price
AVG $1.41M
$2.5M
Visits
AVG 107
140
Year Built
AVG 1952
1997
Walkscore
AVG 93
97
Data Provided by Walkscore ® not using MLS data

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