Nine-Unit Apartment
For Sale
$1,399,000
Pending
1808 P St, Sacramento, CA 95811
Early-1900s architecture, natural light, shared outdoor space, and on-site laundry define this Midtown multifamily property.
Property Size5,431 SF
Days on Market231
Property Features for 1808 P St
General Information
Standard status
Pending
Size
5,431 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
5 x 1BR/1BA, 4 x studio
Multifamily Units
9
Additional Details
Cap Rate
6.01%
Amenities
on-site laundry
shared backyard
Building Details
Year Built
1900
Listing Agency:
ALIVE Commercial Real Estate
(530) 401-1885
Listed By:
Isaac Merritt · License #02153945
Source:
Thecentralvalleyhomesearch
Added: Jan 11
Changed: Aug 29
Last Checked: Aug 29 at 10:29AM
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 ALIVE Commercial Real Estate
Investment Insights
Based on property information with market context.
Located at 1808 P St in Sacramento, this multifamily property includes 9 residences: five one-bedroom, one-bath units and four studios. The 5,431-square-foot building dates to 1900 and features high ceilings, large windows, on-site laundry, and a shared backyard. Its early-1900s architectural character adds a distinct physical identity to the asset.
The property is fully occupied and positioned in Midtown, within walking distance of restaurants, bars, medical centers, The Ice Blocks, and other neighborhood amenities. The asset has an in-place cap rate of 6.01%, while the existing unit mix provides a clear breakdown of the residential configuration. The combination of occupied apartments, common-area amenities, and a central Midtown setting defines the property's current operating profile.
The property is fully occupied and positioned in Midtown, within walking distance of restaurants, bars, medical centers, The Ice Blocks, and other neighborhood amenities. The asset has an in-place cap rate of 6.01%, while the existing unit mix provides a clear breakdown of the residential configuration. The combination of occupied apartments, common-area amenities, and a central Midtown setting defines the property's current operating profile.
Key Highlights
- 9‑unit apartment property with five one‑bedroom units and four studios
- 5,431 square feet on a 1900‑built property
- Fully occupied residential asset
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$85,310
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.10%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,706,200
$1.7M
Cap Rate 7%
$1,218,714
$1.2M
Cap Rate 9%
$947,889
$947.9K
Market Conditions
NOI Build-Up for 5,431 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$162.9K $30.00/SF
− Vacancy
−$7.8K −$1.44/SF
EGI
$155.1K $28.56/SF
− OpEx
−$69.8K −$12.85/SF
NOI
$85.3K $15.71/SF
Area
Sacramento, CA
Vacancy
4.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,706,200
Cap Rate 7%
$1,218,714
Cap Rate 9%
$947,889
Alternative Uses
Best Use
Apartment 5plus
$1.22M
$1.07M – $1.42M
NOI $85,310 @ 7.0% cap · market cap 6.10%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.46M
$1.28M – $1.70M
NOI $102,157 @ 7.0% cap · market cap 7.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
4,969
Businesses Nearby
Explore this area
Business Placement
Demographics for 95811, CA
12,463
Population
5,085
Households
2.5
Avg Household Size
37
Median Age
54%
College-Educated
93%
High-School Grad
2.3 sq mi
ZIP Area
5,419
Density / Sq Mi
$77,760
Median Household Income
$59,641
Median Earnings
$1,564
Median Rent
$707,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Early-1900s architecture, natural light, shared outdoor space, and on-site laundry define this Midtown multifamily property.
Where is this apartment building located?
The property is located at 1808 P St Sacramento, CA.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: 9‑unit apartment property with five one‑bedroom units and four studios; 5,431 square feet on a 1900‑built property; Fully occupied residential asset
