Owner-Occupy Duplex with
3312 38th Street Sacramento, CA 95817
3312 38th Street, Sacramento, CA, 95817
$475,000
For Sale
$475,000
Two 2-bedroom, 1-bath units each include inside laundry and two dedicated 2-car garages in back.
Property Size1,400 SF
Price / SF$339.29
Days on Market28
Property Features for 3312 38th Street
General Information
- Standard status
- Active
- Size
- 1,400 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1928
Listing Agency
McMartin Realty
(916) 402-4160
Listed by
Brian K. McMartin · License #00997069
(916) 402-4160
Source
Exitrealty
Added: Jun 19 Checked: Jul 16 at 6:35 am
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 McMartin Realty
Investment Insights
Based on property information with market context.
This duplex offers two separate units, each with 2 bedrooms, 1 bathroom, and inside laundry. The property includes dual-pane windows, brand new exterior siding, and has been freshly painted. The back apartment has been fully remodeled and is ready for move-in.
Recent improvements include a new roof installed in 2012 and a new sewer line installed in 2023. The home features two separate 2-car garages at the rear, providing enclosed parking and additional storage flexibility. The front apartment will be delivered vacant by close of escrow.
Both units share the same core layout and in-unit laundry setup, with exterior updates and window upgrades throughout the property. The back apartment’s remodeling work and the seller’s recent exterior investment support an owner-occupant configuration while keeping the second unit ready to occupy after close.
Recent improvements include a new roof installed in 2012 and a new sewer line installed in 2023. The home features two separate 2-car garages at the rear, providing enclosed parking and additional storage flexibility. The front apartment will be delivered vacant by close of escrow.
Both units share the same core layout and in-unit laundry setup, with exterior updates and window upgrades throughout the property. The back apartment’s remodeling work and the seller’s recent exterior investment support an owner-occupant configuration while keeping the second unit ready to occupy after close.
Key Highlights
- 1928 duplex with two 2‑bedroom, 1‑bath units; each unit has inside laundry
- Seller remodeled the back (rear) apartment, investing over $80,000, and it is ready for move‑in
- Front apartment will be delivered vacant by close of escrow
Local Financial Insights For Multifamily LT 5
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 | $36.1k | $25.80 |
| − Vacancy | −$2.0k | −$1.42 |
| EGI | $34.1k | $24.38 |
| − OpEx | −$10.2k | −$7.31 |
| NOI | $23.9k | $17.07 |
1,400 SF · lease $25.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$341.3K
$298.7K – $398.2K
NOI $23,893 @ 7.0% cap · market cap 5.03%
Second Best
Apartment 5plus
$314.2K
$274.9K – $366.5K
NOI $21,991 @ 7.0% cap · market cap 4.63%
Theoretical Best
Specialty Retail
$376.2K
$329.2K – $438.9K
NOI $26,334 @ 7.0% cap · market cap 5.54%
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?
Duplex - Two 2-bedroom, 1-bath units each include inside laundry and two dedicated 2-car garages in back.
Where is this duplex located?
The property is located at 3312 38th Street Sacramento, CA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 1928 duplex with two 2‑bedroom, 1‑bath units; each unit has inside laundry; Seller remodeled the back (rear) apartment, investing over $80,000, and it is ready for move‑in; Front apartment will be delivered vacant by close of escrow
