Property Attributes
- MLS#224037627
- TypePending
- CountySACRAMENTO
- CitySacramento
- AreaSacramento
- Zip95818
- StyleModern/High Tech
- Price$ 8,995,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Lot Size9,601 SqFt
Data Source:
MetroList MLS
Property Description
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.
Price History | |
---|---|
4/15/2024 | Listed $8,995,000 |
General Features
Sewer | Public Sewer |
---|---|
Heating | Central |
Cooling | Central |
Utilities | City |
Roof | Flat |
Garage Spaces | 0.0 |
Architectural Style | Modern/High Tech |
Construction Materials | Concrete,Frame |
Year Built | 2020 |
Tenant Pays | Electricity,Parking Fee |
Stories | 4 |
Property SubType | 5 or More Units |
County | Sacramento |
Property Type | ResidentialIncome |
HOA / Comm Assn | No |
Close Price | 0.0 |
Status | Pending |
Directions | Located at the corner of 10th and U Street. |
City | Sacramento |
Buyer Agent Compensation | 1.25 |
High School District | Sacramento Unified |
Zoning Description | C-2-SPD |
Open Parking Spaces | 9.0 |
Total Units | 21 |
MLS Area | 10818 |
Lot Size Square Feet | 9601.0 |
Carport Spaces | 0.0 |
Street Name | 10th |
Ok to Lease | 12 Months |
Builder Name | HK3 Development |
Standard Status | Pending |
Middle/Junior School District | Sacramento Unified |
Elementary School District | Sacramento Unified |
Year Built Source | Assessor Auto-Fill |
UnitTypeCommercialUnitsTotal | 2 |
Buyer Agent Compensation Type | Percent |
Interior Features
Basement | None |
---|---|
Flooring | Laminate |
Total Stories | 4 |
Street Suffix | Street |
Laundry Features | In Each Unit |
Unit 1 Bedroom Units Total | 9 |
Unit 2 Bedroom Units Total | 3 |
UnitTypeStudioUnitsTotal | 9 |
Exterior Features
Parking Features | Covered,Uncovered |
---|---|
Lot Features | Court |
Water Source | Public |
Total Parking | 12.0 |
Foundation Details | Concrete |
Number of Buildings | 1 |
Lot Size Acres | 0.2204 |
Lot Size Source | Assessor Auto-Fill |
Covered Spaces | 3.0 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool