Active

2030 10th Street

Sacramento CA, 95818

$8,995,000


Active

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.

223041744

MLS ID

May 22, 2023

Listed

May 9, 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


Buyer Agency Compensation

1.25%

Courtesy of Ken Turton, Broker, Jon Lang,
Listing Contact:  

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