2006 U ST, Sacramento, CA 95818
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2006 U ST, Sacramento, CA 95818
2006 U ST, Sacramento, CA 95818
2006 U ST, Sacramento, CA 95818
2006 U ST, Sacramento, CA 95818
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Rich And Kat Farless

Rich And Kat Farless

+1(916) 284-1520
$ 1,497,500
Est. payment /mo
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Price Dropped by $127K

2006 U ST Sacramento, CA 95818

3,090 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

Square Footage 3,090 sqft

Price per Sqft $484

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'', located in the exclusive Poverty Ridge neighborhood in Midtown, is an excellent long-term investment opportunity with several different ways to create additional value. The Property consists of two adjacent parcels improved with a triplex and a single-family house, both beautifully renovated and fully leased to long-term and high-income professional tenants. The 2006-2010 U Street parcel features a single-story triplex building and detached three-car garage on a 5,663 square foot parcel of land. The 2016 U Street parcel features a single-family residence featuring two bedrooms and two full bathrooms situated on a 6,098 square foot parcel of land. /// What makes this investment truly unique is the amount of excess land available to create upside by constructing additional units. With nearly 7,000 square feet of buildable land surrounding the existing structures, a new owner can add several additional units by right or, with slight adjustment to parcel boundaries, separately sell each parcel. Additionally, the C-2 zoning and 6.0 FAR allows up to 60,000+ SF of new multifamily residential development on the entire 11,761 SF parcel that extends from U Street to Uptown Alley, thus creating a unique covered land play'' in the best neighborhood in Midtown. /// The two properties, which must be purchased together, are offered at $1,497,500 which is $374,375 per residential unit or $127 per square foot for the underlying land. The in-place capitalization rate is 4.35% based on existing income and expenses.

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

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

MetroList® Services, Inc
Listed by Ken Turton, Broker

Nearby Locations

Rich And Kat Farless
Rich And Kat Farless

Agent | License ID: 01193836, 01186753

+1(916) 284-1520 | kat@homesbyrichandkat.com

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2006 U ST