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    Approved Condo Development Opportunity Title is generated by Realmo AI

    1523 E Street, Sacramento, CA 95814

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    Claim this Listing
    For Sale
    $1,100,000

    Approved 9-unit condo development site in Sacramento's urban core.

    Type:Land / Commercial Lot
    Added:
    May 18, 2026
    Days on Market:
    14
    Last Refresh:
    May 27 at 1:09 pm

    Property Features for 1523 E Street

    General Information

    Standard status
    Active
    Property subtype
    Land / Commercial Lot

    We can help!

    Listing Contact
    Denette Steele
    Denette Steele

    Listing agent Denette Steele License #01903670

    Listing office Capital City Real Estate

    Listing date May 18, 2026

    Source Compass

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Capital City Real Estate

    HighLights

    • Fully approved and entitled 9‑unit condo development opportunity.
    • RD‑4 zoned infill development site suitable for mixed‑use.
    • Approved architectural plans for a modern 9‑unit condominium project.
    • Majority of development fees already paid, streamlining construction.
    • Located in a rapidly evolving urban corridor near Downtown and Midtown Sacramento.
    • Designed with contemporary architecture and efficient unit layouts.

    Overview

    This is a fully approved and entitled 9-unit condominium development opportunity located in Sacramento. This rare chance to acquire a mixed-use infill development site is zoned RD-4. Approved architectural plans are available for a modern 9-unit condominium project designed for urban housing demand. Significant entitlement and pre-development work has been completed, with the majority of development fees already paid. The approved project features contemporary architecture, efficient unit layouts, and a modern streetscape presence designed to complement the surrounding neighborhood revitalization. It is located within a rapidly evolving urban corridor Downtown and near Midtown Sacramento. This is an ideal opportunity for developers, builders, and investors seeking a ready-to-develop multifamily condo project in one of Sacramento's strongest urban infill markets.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Dental Office Spa & Massage Center Hair Salon Nail Salon Food Market Grocery & Convenience Store Daycare Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Sacramento
    County
    Sacramento
    State
    California
    Longitude
    -121.483753
    Latitude
    38.584052

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    FAQs

    What type of property is this?
    Commercial land - Approved 9-unit condo development site in Sacramento's urban core.
    Where is this commercial land located?
    The property is located at 1523 E Street Sacramento, CA.
    What is the asking price?
    The asking price for this property is $1,100,000.
    What are key features of this property?
    This property features: Fully approved and entitled 9‑unit condo development opportunity.; RD‑4 zoned infill development site suitable for mixed‑use.; Approved architectural plans for a modern 9‑unit condominium project.
    (916) 821-3121
    We can help!
    Listing Contact
    Denette Steele
    Denette Steele
    Real Estate License ID: 01903670
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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