Thank you
Jon Lang
Ken Turton, Broker
Check Mortgage Rates and Get Pre-Approved
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.
Sell a home like this and save $539,201 Find Out How
Sewer: Public Sewer
Roof : Flat
Laundry Features: In Each Unit
Flat
Laminate
Heating: Central
Cooling: Central
Water Source: Public
Year Built: 2020
Stories: 4
Construction: Concrete,Frame
Basement: None
Roof: Flat
Foundation Details: Concrete
Foundation Details: Concrete
In Each Unit
Lot Description: Court
Lot Square Feet: 9,601
Stories: 4
Property Type: ResidentialIncome
Sub Type: 5 or More Units
Style: Modern/High Tech
Construction Materials: Concrete,Frame
Property Age: 4
Cross Street: U Street
Source Neighborhood: 10818
Postal Code Plus 4: 1312
Area: Sacramento S: 95818
Zoning: C-2-SPD
Structure Type: Apartments,Class A Building,Mixed Use
Irrigation Source: Irrigation Connected
Listing Id: 224037627
List Price: $8,995,000
Parcel Number: 009-0131-030-0000
Parking Total: 12
Covered,Uncovered
Association YN : No
Calculated Total Monthly Association Fees : $0
Elementary School District: Sacramento Unified
Junior High School District: Sacramento Unified
Senior High School District: Sacramento Unified
City
Direction: Located at the corner of 10th and U Street.
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
7th Avenue, Sacramento, CA,95818 | $899,000 | 4 | 4 | 2,300 | -- |
Freeport Boulevard, Sacramento, CA,95818 | $635,000 | 2 | 2 | 1,070 | -- |
27th Street, Sacramento, CA,95818 | $1,050,000 | 4 | 4 | 1,930 | -- |
Log Pond, Sacramento, CA,95818 | $440,000 | 2 | 3 | 1,061 | -- |
15th Street, Sacramento, CA,95818 | $1,059,000 | 3 | 3 | 1,611 | -- |
2nd Avenue, Sacramento, CA,95818 | $590,000 | 2 | 1 | 1,032 | -- |
3rd Ave, Sacramento, CA,95818 | $1,495,000 | 5 | 4 | 2,972 | -- |
Fremont Way, Sacramento, CA,95818 | $472,000 | 2 | 1 | 1,231 | -- |
10th Street, Sacramento, CA,95818 | $8,995,000 | -- | -- | -- | -- |
28th Street, Sacramento, CA,95818 | $499,000 | -- | -- | -- | -- |
ByOwner last updated this listing 05/14/2024 @ 22:40
MLS: 224037627
LISTED BY: Jon Lang, Ken Turton, Broker
SOURCE: MLS Metrolist
Buyer Agency Compensation: 1.25%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.