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listings@guiderealestate.com +1(916) 975-2700

$ 1,625,000

Est. payment | -/mo

3,090 SqFt

Save

$ 1,625,000

Est. payment | -/mo

Save

3,090 SqFt

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

Square Footage 3,090 sqft

Price per Sqft $525

MLS Listing ID 226007648

HOA Y/N No

Year Built 1952

Lot Size 0.270 Acres

Acres 0.27

Property Sub-Type Quadruplex

Source MLS Metrolist

Property Description

The Grove is a rare, one-of-one multifamily portfolio in midtown Sacramento, available for sale for only the second time in the last 25 years. The property includes two adjacent parcels with 4 total residential units situated over approximately 11,761 square feet of commercial-zoned land. The portfolio is comprised of the following adjacent properties: 2006-2010 U Street, a single-story triplex building and stand-alone three-car garage on a 5,663 square foot parcel of land; and 2016 U Street, a stand-alone single-family residence featuring two bedrooms and two full bathrooms situated on a 6,098 square foot parcel of land. The property boasts nearly 7,000 square feet of excess land surrounding the existing structures, providing the tenants with private courtyards and amenity space among old growth Cedar trees and curated landscaping. All four units have been carefully updated over the years including refinished original hardwood floors, varying degree of renovated kitchens and bathrooms, interior paint and lighting, and new mini-split HVAC units in all units. For those adventurous investors, the underlying land, measuring almost 12,000 SF in a near-rectangle shape stretching from U Street to Uptown Alley, can also accommodate ground up development given the existing C-2-SPD zoning and 6.0 Floor Area Ratio as established by the 2040 General Plan. The portfolio is offered at $1,625,000 which is $406,250 per residential unit or $138 per square foot for the underlying land. The in-place capitalization rate is 4.20% cap rate based on existing income and expenses. The two properties must be purchased together.

Location

State CA

County Sacramento

Area 10818

Direction Located near the southwest corner of 20th and U Street. Plenty of street parking available nearby.

Rooms

Other Rooms Unit-1 Type: Apartment Approx SqFt: 1072 Bedrooms: 2 Full Baths: 2 Occupancy: Tenant Rent: 2600 SqFt Source: Tax Record Unit-2 Type: Apartment Approx SqFt: 672 Bedrooms: 1 Full Baths: 1 Occupancy: Tenant Rent: 1615 SqFt Source: Tax Record Unit-3 Approx SqFt: 672 Bedrooms: 1 Full Baths: 1 Occupancy: Tenant Rent: 2000 SqFt Source: Tax Record Unit-4 Approx SqFt: 672 Bedrooms: 1 Full Baths: 1 Occupancy: Tenant Rent: 1795 SqFt Source: Tax Record

Basement None

Interior

Interior Features Vaulted Ceiling(s)

Heating Ductless, Heat Pump

Cooling Ceiling Fan(s), Ductless, Heat Pump

Flooring Simulated Wood, Tile, Wood, Varies by Unit

Window Features Varies by Unit

Appliance Ice Maker, Dishwasher, Microwave, Varies By Unit, Free Standing Electric Oven

Laundry In Each Unit

Exterior

Exterior Feature Yard Space

Parking Features Detached, Street, Garage

Garage Spaces 3.0

Utilities Available City

Water Access Desc Public

Roof Type Shingle

Topography Level

Porch Varies by Unit

Total Parking Spaces 4

Building

Lot Description Private, Secluded, Garden

Story 1

Foundation Concrete

Sewer Public Sewer

Water Public

Architectural Style Unknown

Schools

Elementary Schools Sacramento Unified

Middle Schools Sacramento Unified

High Schools Sacramento Unified

School District Sacramento

Others

Senior Community No

Tax ID 010-0094-003-0000

Special Listing Condition None

Listed by Ken Turton, Broker

Nearby Locations

+1(916) 975-2700

listings@guiderealestate.com

1610 R Street, Sacramento, California, 95811, United States

2006 U ST Sacramento, CA 95818