Sold
Closed
2030 10th Street
Sacramento CA, 95818
$7,350,000
Sold
Closed
Multi-family
Built in 2020
The Southsider is one of the newest and most progressive mixed-use multifamily residential and retail buildings in Sacramento. Enjoying a high visibility location along 10th Street, the Southsider is a 4-story mid-rise project comprised of 21 residential units totaling 11,979 square feet and a ground floor restaurant measuring 2,734 square feet. The Property was constructed in 2021 and is currently 100% leased at market rents. The luxury residential units feature various studio, one-bedroom, and two-bedroom units all with open floor plans, spacious living areas, ample glass, and modern kitchen and bathrooms. 17 of the 21 units feature a 30 SF usable balcony. The entire ground floor retail space was recently leased to Thai Time, a new-to-market Thai restaurant that specializes in healthy and plant-based dishes. The retail lease is 7 years and 6 months long commencing September 1, 2023. The Southsider is being sold for $8,995,000 which equates to a 4.53% blended capitalization rate based upon actual income & OpEx. The buyer may assume the existing $5,800,000 loan, which is approx. 64% loan-to-value. The loan matures July 31, 2031 (more than 8 years left) with a current interest rate of 3.75% fixed for three more years.
224037627
MLSⓇ ID
April 15, 2024
Listed
August 23, 2024
Updated
Map
2030 10th Street
Sacramento CA, 95818
Interior Features
Total Stories
4
Interior Features
Laminate
Floor Description
Laminate
Fireplace
No
Cooling
Yes
Cooling Description
Central Air
Heating
Yes
Heating Description
Central
Exterior/Building Features
Lot Size
0.22 Acres
Architectual Style
Modern/High Tech
Sewer
Public Sewer
School Information
School District
Sacramento Unified
Other Property Details
Area Name
10818
Garage
No
Parking Total
12
View
No
County
Sacramento
Water Source
Public
Pool
No
Zoning
C-2-SPD
Listing History
Date | Event | Price |
---|---|---|
5/6/2024 | Sold | $7,350,000 |
4/29/2024 | Pending | — |
Courtesy of Ken Turton, Broker, Jon Lang,
Listing Contact:
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