2109 J Street, Sacramento, CA 95816

2109-2111 J Street is a 3-story multifamily building comprised of four large existing 1-bedroom and 1.5 bathroom luxury apartment units (each 988 SF) on the second and third floors of the building. The ground floor, measuring 2,058 SF, is vacant and can potentially be converted to two additional luxury residential units thereby increasing the total to 6 residential units. The City of Sacramento generally supports converting the retail space to additional residential units given the existing infrastructure, on-site parking, and zoning. The property was completely remodeled in 2019 including top-to-bottom upgrades to the retail space, all residential units and common areas; new stucco and paint to exterior of building; updated plumbing and electrical; and energy efficient HVAC units. The existing residential units feature new hardwood floors throughout, granite counters, solid wood custom cabinetry, designer lighting, stainless appliances, full-size washer/dryer in each unit, as well as completely remodeled bathrooms and kitchens. The property features 9 on-site parking stalls which are gated, lighted, and secured. Located in the heart of Midtown, just one block from the MARRS Building, THIS is Midtown events, and the Midtown Farmer’s Market and walking distance to hundreds of restaurants and bars. The property is being offered at $2,600,000 which results in a proforma capitalization rate of 5.25%.