Short-Term Rental Property with Detached
New
For Sale
$599,999
2844 Connie Drive, Sacramento, CA 95815
Two residences are operating as short- and mid-term rentals, with a third detached unit under construction.
Property Size1,938 SF
Price / SF$309.60
Days on Market6
Property Features for 2844 Connie Drive
General Information
Standard status
Active
Size
1,938 SF
Total Parking Spaces
3
Property subtype
Residential Income
Zoning
R-2A
Site & Location
Neighborhood
Cannon Industrial Park
Units
Unit Mix
1 x 2BR/1BA, 1 x studio
Multifamily Units
2
Tenancy & Operations
Currently Operating
Yes
Tenant in Place
Yes
Additional Details
Gross Income
$54,000
Building Details
Building Size
1,938 SF
Year Built
1943
Buildings
3
Stories
2
Units
2
Listing Agency:
FX Realty
5135736
Listed By:
George Tung · License #01251439
(916) 513-5736
Source:
Davenportsold
Added: Oct 19
Changed: Oct 24
Last Checked: Oct 23 at 3:40PM
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 FX Realty
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Investment Insights
Based on property information with market context.
At 2844 Connie Drive in Sacramento, this 1943 property includes two operating rental residences and a detached third unit in progress. One residence has two bedrooms, one bathroom, and a recently installed roof; the other is a two-story studio. The rear ADU is approximately 440 square feet and has a new water heater. Revised plans have been approved and issued by the City of Sacramento, with construction and final field inspections still to be completed. The plans show approximately 1,938 square feet of total livable area upon completion. The approved electrical design includes a 200-amp main service for the ADU and a 100-amp subpanel for the new unit. Zoning is R-2A. The property is offered as-is, and the sale is cash only.
Key Highlights
- Two operating rental units: a 2‑bedroom, 1‑bath residence and a two‑story studio
- Detached third unit is approximately 440 square feet and remains under construction
- Approved plans show approximately 1,938 square feet of total livable area upon completion
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,442
Cap Rate
5.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$608,840
$608.8K
Cap Rate 7%
$434,886
$434.9K
Cap Rate 9%
$338,244
$338.2K
Market Conditions
NOI Build-Up for 1,938 SF
Gross rent
$58.1K $30.00/SF
− Vacancy
−$2.8K −$1.44/SF
EGI
$55.3K $28.56/SF
− OpEx
−$24.9K −$12.85/SF
NOI
$30.4K $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 Rate 5%
$608,840
Cap Rate 7%
$434,886
Cap Rate 9%
$338,244
Alternative Uses
Best Use
Apartment 5plus
$434.9K
$380.5K – $507.4K
NOI $30,442 @ 7.0% cap · market cap 5.07%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$520.8K
$455.7K – $607.6K
NOI $36,454 @ 7.0% cap · market cap 6.08%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
698
Businesses Nearby
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Business Placement
Demographics for 95815, CA
27,838
Population
10,527
Households
2.6
Avg Household Size
34
Median Age
17%
College-Educated
79%
High-School Grad
7.7 sq mi
ZIP Area
3,615
Density / Sq Mi
$58,590
Median Household Income
$37,199
Median Earnings
$1,448
Median Rent
$298,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Short term rental property - Two residences are operating as short- and mid-term rentals, with a third detached unit under construction.
Where is this short term rental property located?
The property is located at 2844 Connie Drive Sacramento, CA.
What is the asking price?
The asking price for this property is $599,999.
What are key features of this property?
This property features: Two operating rental units: a 2‑bedroom, 1‑bath residence and a two‑story studio; Detached third unit is approximately 440 square feet and remains under construction; Approved plans show approximately 1,938 square feet of total livable area upon completion
