Sold
1614 K Street
Sacramento CA, 95814
$2,150,000
$167.99 per sqft
Sold
1 Bed
4 Baths
12,798 sqft
Multi-family
Built in 1997
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.
20066234
MLSⓇ ID
March 9, 2024
Updated
Map
1614 K Street
Sacramento CA, 95814
Interior Features
Total Stories
2
Bedrooms
1
Total Bathrooms
4
Interior Features
Carpet, Tile
Appliances
Electric Oven, Electric Water Heater
Floor Description
Carpet, Tile
Fireplace
No
Cooling
No
Heating
Yes
Heating Description
Electric
Exterior/Building Features
Lot Size
0.29 Acres
Architectual Style
Contemporary
Sewer
Public Sewer
School Information
School District
Sacramento Unified
Other Property Details
Area Name
10814
Garage
No
View
Yes
View Description
City
County
Sacramento
Pool
No
Zoning
RMX-SPD
Buyer Agency Compensation
1%
Courtesy of Ken Turton, Broker, Zachary Hooker,
Listing Contact:
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