6531 Folsom Boulevard Sacramento, CA 95819

Located at 6531 Folsom Boulevard in Sacramento, California, this property presents an opportunity to acquire a leased commercial building with a fully-entitled development project. The site, situated on approximately 0.34 acres, has approved entitlements for Baobab Apartments, a 6-story mixed-use building. The apartment project consists of 56 units with a mix of 2-bed, 1-bed, and studio layouts. Designed with flexibility, the project can be developed as either market-rate multifamily or student housing with 66 beds. Planned amenities include a lounge, club room, bike room, a 2nd-floor courtyard, and common-use amenity space. On-site parking includes 16 vehicle stalls and 38 bicycle spaces. A retail space of 840 square feet is planned on the ground floor along Folsom Boulevard. The property is currently 100% leased to a single commercial tenant, Jet Black Tint, on a long-term NNN lease. The lease allows for early termination to demolish the building and begin apartment construction. The existing building, constructed in 1966, features approximately 1,800 square feet of showroom and office space and 3,160 square feet of dedicated warehouse space with a roll-up door accessible from the alley. It includes a large glass window line, exposed trusses throughout the warehouse, and corner visibility with monument signage. The property has 100 feet of street frontage along Folsom Blvd and 14 parking stalls. Located in East Sacramento, the site is near restaurants, cafes, schools, parks, grocery stores, CSU Sacramento, and the University/65th Street Light Rail Station. The proposed new building will be 53,100 SF mixed-use apartment building.