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1614 K Street $2,500,000

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    1614 K Street Sacramento, CA 95814

    • 0 Beds
    • 0 Baths
    • Multi-Family
    • MLS# 20066234
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    Views: 11

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    Property Details

    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.

    • General Features
      • Year Built 1997
      • Property Subtype 5 or More Units
      • County Sacramento
      • Association Fee $0
      • Association No
    • Building Features
      • Accessibility Features 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
      • Carport Spaces 0
      • Construction Materials Stucco, Wood
      • Num Commercial Units 0
      • Number of Buildings 2
      • Independent Parking Spaces 0
      • Number of Floors 0
      • Heating Electric
      • Foundation Slab
      • Garage Spaces 0
      • Flooring Carpet, Tile, Varies by Unit
      • Electric 220 Volts
      • Covered Spaces 0
      • Cooling Wall Unit(s)
      • Other Equipment None
      • Parking Features Street
      • Open Parking Spaces 0
      • Number of Studio Units 8
      • Number of Units Total 8
      • Patio And Porch Features Varies by Unit
      • Roof Flat
      • Total Parking Spaces 0
      • Stories 2
      • Sewer Public Sewer
      • View Description City
      • Number of Guest Spaces 0
      • Tandem Parking Spaces 0
      • Water Source Meter on Site
    • Property Features
      • Lot Size Source Assessor Agent-Fill
      • Lot Size Square Feet 12800
      • Lot Size Acres 0.29
    • Schools
      • Senior High School District Sacramento Unified
      • School District County Sacramento
      • Middle or Junior School District Sacramento Unified
      • Elementary School District Sacramento Unified

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    Neighborhood

    95814 (Sacramento) Demographics

    35 Median Age
    7,512 Population Density (per sq. mile)
    45% College Educated
    $31,409 Estimated Median Income
    429 Estimated Total Home Owners
    5,314 Estimated Total Renters
    7% / 93% Estimated Owner / Renter Divide
    4 Estimated Average Household Size
    10,487 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $0 Median Sales Price
    0 Homes Sold
    2 New On Market

    Average Days on Site

      Properties for Sale

        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- Current Price Source New Value: $2,500,000
        2/11/2021 12:03:34 PM Price Increased Source New Value: $2,500,000 19.05%
        2/11/2021 11:05:00 AM New in Database Source New Value: $2,100,000
        12/4/2020 2:15:00 PM Status Changed Source New Value: Pending Sale

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        **Assumes 3.5% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information.
        Information is provided in part by the IDX program of METROLIST SERVICES, INC. All information provided is deemed reliable but is not guaranteed and should be independently verified. Listing information last updated 3/3/2021 3:04:29 AM. All measurements and all calculations of area are approximate. Information provided by Seller/Other sources, not verified by Broker. All interested persons should independently verify accuracy of information. Provided properties may or may not be listed by the office/agent presenting the information. Terms of Use

        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.