Two-Structure Multifamily
1819-1821 P Street Sacramento, CA 95811
1819-1821 P Street, Sacramento, CA, 95811
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For Sale
Contact for pricing
Two buildings on one parcel totaling 14 units, including 12 studio units and two one-bedroom units.
Property Size7,626 SF
Price / SF$268.82
Days on Market15
Property Features for 1819-1821 P Street
General Information
- Standard status
- Active
- Size
- 7,626 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1910
Listing agency
Turton Commercial Real Estate
(916) 710-0753
Listed by
Kaylyn Ibarra · License #02350645
Source
Crexi
Added: Jul 8 Updated: Jul 21 at 7:27AM Checked: Jul 21 at 7:27AM
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 Turton Commercial Real Estate
Investment Insights
Based on property information with market context.
Turton Commercial Real Estate presents 1819–1821 P Street, a two-building multifamily property offered for sale for the first time in nearly 25 years. The property contains 14 total residential units across the two structures on the same parcel, consisting of 12 studio units and two one-bedroom units.
The current rents are described as below the market average for comparable properties, supporting a value-add approach through capital and cosmetic improvements. The listing notes that many of the studio units could benefit from modest cosmetic upgrades, including new kitchens and bathroom finishes, along with lighting and paint. It also states that the two one-bedroom units appear to have resulted from combining two studio units, and that they may be convertible back into four studio units to increase the total unit count to 16.
This offering provides an opportunity to acquire a small, manageable multifamily asset with room for interior unit updates and building and common-area improvements.
The current rents are described as below the market average for comparable properties, supporting a value-add approach through capital and cosmetic improvements. The listing notes that many of the studio units could benefit from modest cosmetic upgrades, including new kitchens and bathroom finishes, along with lighting and paint. It also states that the two one-bedroom units appear to have resulted from combining two studio units, and that they may be convertible back into four studio units to increase the total unit count to 16.
This offering provides an opportunity to acquire a small, manageable multifamily asset with room for interior unit updates and building and common-area improvements.
Key Highlights
- Midtown Sacramento multifamily on P Street with 14 total residential units across two structures on the same parcel
- Unit mix includes 12 studio units plus 2 one‑bedroom units
- Two 1‑bedroom units appear to be combined studios; possible conversion back to four studios to increase total to 16 units
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $228.8k | $30.00 |
| − Vacancy | −$11.0k | −$1.44 |
| EGI | $217.8k | $28.56 |
| − OpEx | −$98.0k | −$12.85 |
| NOI | $119.8k | $15.71 |
7,626 SF · lease $30.00/SF/yr · vacancy 4.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.71M
$1.50M – $2.00M
NOI $119,789 @ 7.0% cap · market cap 5.84%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.05M
$1.79M – $2.39M
NOI $143,445 @ 7.0% cap · market cap 7.00%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Two buildings on one parcel totaling 14 units, including 12 studio units and two one-bedroom units.
Where is this apartment building located?
The property is located at 1819-1821 P Street Sacramento, CA.
What is the asking price?
The asking price for this property is $2,050,000.
What are key features of this property?
This property features: Midtown Sacramento multifamily on P Street with 14 total residential units across two structures on the same parcel; Unit mix includes 12 studio units plus 2 one‑bedroom units; Two 1‑bedroom units appear to be combined studios; possible conversion back to four studios to increase total to 16 units
