Two-Property Apartment
618 PLAZA AVE Sacramento, CA 95815
618 PLAZA AVE, Sacramento, CA, 95815
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For Sale
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Two midcentury apartment buildings offer 46 total individually metered units with on-site laundry and an open courtyard.
Property Size27,600 SF
Price / SF$183.33
Days on Market84
Property Features for 618 PLAZA AVE
General Information
- Standard status
- Active
- Size
- 27,600 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1959
Listing agency
Colliers - Sacramento, California
(916) 830-2584
Listed by
Trevor Meleski · License #02245229
Source
Crexi
Added: Apr 30 Updated: Jul 20 at 11:39PM Checked: Jul 22 at 11:14AM
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 Colliers - Sacramento, California
Investment Insights
Based on property information with market context.
The subject property consists of two apartment buildings on two parcels, with one building facing Plaza Avenue and the other facing Santiago Avenue. Constructed in 1959, the community totals 45 one-bedroom units and one studio. Units are individually metered for gas and electric and include wall heaters and wall-mounted air conditioning. Flooring varies by unit and interior finishes reflect updates completed over time.
Apartments include refrigerators, gas stoves, garbage disposals, Formica countertops, and original cabinetry, with tub/shower combinations in the bathrooms. The property provides six garage spaces along with on-site and off-street parking, plus an open courtyard layout and on-site laundry.
Tenants benefit from utility-by-unit metering and in-unit essentials, while the property’s courtyard and parking arrangement support practical day-to-day circulation. The buildings are located in the Noralto District of Old North Sacramento, positioned between Downtown Sacramento and Arden-Arcade, with nearby retail and dining options including Grocery Outlet and King’s Supermarket, and several local and national restaurant brands.
Apartments include refrigerators, gas stoves, garbage disposals, Formica countertops, and original cabinetry, with tub/shower combinations in the bathrooms. The property provides six garage spaces along with on-site and off-street parking, plus an open courtyard layout and on-site laundry.
Tenants benefit from utility-by-unit metering and in-unit essentials, while the property’s courtyard and parking arrangement support practical day-to-day circulation. The buildings are located in the Noralto District of Old North Sacramento, positioned between Downtown Sacramento and Arden-Arcade, with nearby retail and dining options including Grocery Outlet and King’s Supermarket, and several local and national restaurant brands.
Key Highlights
- Two apartment buildings (built 1959) with 46 total individually metered units: forty‑five 1‑bedroom and one studio
- Individually metered gas and electric; wall heaters plus wall‑mounted air conditioning in each unit
- Units include refrigerators, gas stoves, garbage disposals, Formica countertops, and original cabinetry; tub/shower combinations
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 | $828.0k | $30.00 |
| − Vacancy | −$39.7k | −$1.44 |
| EGI | $788.3k | $28.56 |
| − OpEx | −$354.7k | −$12.85 |
| NOI | $433.5k | $15.71 |
27,600 SF · lease $30.00/SF/yr · vacancy 4.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$6.19M
$5.42M – $7.23M
NOI $433,541 @ 7.0% cap · market cap 8.57%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$7.42M
$6.49M – $8.65M
NOI $519,156 @ 7.0% cap · market cap 10.26%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Palm Court Apartments
Apartment Building
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FAQs
What type of property is this?
Apartment building - Two midcentury apartment buildings offer 46 total individually metered units with on-site laundry and an open courtyard.
Where is this apartment building located?
The property is located at 618 PLAZA AVE Sacramento, CA.
What is the asking price?
The asking price for this property is $5,060,000.
What are key features of this property?
This property features: Two apartment buildings (built 1959) with 46 total individually metered units: forty‑five 1‑bedroom and one studio; Individually metered gas and electric; wall heaters plus wall‑mounted air conditioning in each unit; Units include refrigerators, gas stoves, garbage disposals, Formica countertops, and original cabinetry; tub/shower combinations
