West Sacramento Multifamily Investment
For Sale
$1,125,000
513-521 North Harbor Boulevard West, Sacramento, CA 95605
Seven-unit multifamily property in West Sacramento, near Interstate 80.
Property Size5,130 SF
Lot Size0.77 Acres
Price / SF$219.30
Days on Market215
Property Features for 513-521 North Harbor Boulevard West
General Information
Standard status
Active
Size
5,130 SF
Lot size
0.77 Acres
Property subtype
Multifamily
Building Details
Year Built
1961
Units
2
Listing Agency:
Newmark | Sacramento
(916) 747-9136
Listed By:
Will Blucher · License #CalDRE #01811673
(916) 747-9136
Source:
Nmrk
Added: Jan 27
Changed: Aug 10
Last Checked: Aug 29 at 7:55AM
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 Newmark | Sacramento
Investment Insights
Based on property information with market context.
This multifamily community features two buildings with a total of seven units, situated on a 0.77-acre parcel. The unit mix includes one one-bedroom/one-bathroom unit and six two-bedroom/one-bathroom units. The property is located in West Sacramento and was built in 1961. The 5,130 square feet building is fully occupied. The property is located a 2-minute drive from Interstate 80, providing convenient access to employment centers. Additionally, it is less than one mile from West Sacramento’s regional power center, which includes major national tenants such as IKEA, Walmart, Home Depot, Ross, In & Out, and Chipotle.
Key Highlights
- High Proforma Cap Rate: 8.03%
- 100% Occupancy
- Potential to Increase Rents: Average in‑place rents are $1,543, while average market rents are $1,771.
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
$80,582
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
7.16%
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%
$1,611,640
$1.6M
Cap Rate 7%
$1,151,171
$1.2M
Cap Rate 9%
$895,356
$895.4K
Market Conditions
NOI Build-Up for 5,130 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
$153.9K $30.00/SF
− Vacancy
−$7.4K −$1.44/SF
EGI
$146.5K $28.56/SF
− OpEx
−$65.9K −$12.85/SF
NOI
$80.6K $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%
$1,611,640
Cap Rate 7%
$1,151,171
Cap Rate 9%
$895,356
Alternative Uses
Best Use
Apartment 5plus
$1.15M
$1.01M – $1.34M
NOI $80,582 @ 7.0% cap · market cap 7.16%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.38M
$1.21M – $1.61M
NOI $96,495 @ 7.0% cap · market cap 8.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
302
Businesses Nearby
Explore this area
Business Placement
Demographics for 95605, CA
14,204
Population
5,517
Households
2.6
Avg Household Size
36
Median Age
24%
College-Educated
79%
High-School Grad
3.9 sq mi
ZIP Area
3,642
Density / Sq Mi
$71,361
Median Household Income
$41,665
Median Earnings
$1,615
Median Rent
$375,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Seven-unit multifamily property in West Sacramento, near Interstate 80.
Where is this apartment building located?
The property is located at 513-521 North Harbor Boulevard West Sacramento, CA.
What is the asking price?
The asking price for this property is $1,125,000.
What are key features of this property?
This property features: High Proforma Cap Rate: 8.03%; 100% Occupancy; Potential to Increase Rents: Average in‑place rents are $1,543, while average market rents are $1,771.
