Multifamily Apartment
New
For Sale
$6,195,000
6815 24th Street, Sacramento, CA 95822
R-3 zoning and wall-furnace heating are identified for this multi-unit property.
Property Size21,628 SF
Price / SF$286.43
Days on Market4
Property Features for 6815 24th Street
General Information
Standard status
Active
Size
21,628 SF
Total Parking Spaces
42
Property subtype
Residential Income
Zoning
R-3
Amenities
Multi Units
Wall Furnace
Building Details
Building Size
21,628 SF
Year Built
1969
Buildings
8
Stories
1
Listed By:
Louis C. Kwok
(510) 387-7049
Source:
Evrealestate
Added: Sep 24
Changed: Sep 26
Last Checked: Sep 26 at 2:55PM
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 Louis C. Kwok
Investment Insights
Based on property information with market context.
This multifamily property contains multiple residential units and was built in 1969. Wall furnaces are listed among its interior features. The property has 21,628 square feet of reported building area.
Located at 6815 24th Street in Sacramento, the property is zoned R-3.
Located at 6815 24th Street in Sacramento, the property is zoned R-3.
Key Highlights
- 21,628 square feet of property area
- Built in 1969
- R‑3 zoning
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
$330,490
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
5.33%
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%
$6,609,800
$6.6M
Cap Rate 7%
$4,721,286
$4.7M
Cap Rate 9%
$3,672,111
$3.7M
Market Conditions
NOI Build-Up for 21,628 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
$635.9K $29.40/SF
− Vacancy
−$35.0K −$1.62/SF
EGI
$600.9K $27.78/SF
− OpEx
−$270.4K −$12.50/SF
NOI
$330.5K $15.28/SF
Area
ZIP 95822
Vacancy
5.50%
Lease Rate
$29.40 /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%
$6,609,800
Cap Rate 7%
$4,721,286
Cap Rate 9%
$3,672,111
Alternative Uses
Best Use
Apartment 5plus
$4.72M
$4.13M – $5.51M
NOI $330,490 @ 7.0% cap · market cap 5.33%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$168.57M
$147.50M – $196.66M
NOI $11,799,692 @ 7.0% cap · market cap 190.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
444
Businesses Nearby
Explore this area
Business Placement
Demographics for 95822, CA
45,215
Population
17,479
Households
2.6
Avg Household Size
38
Median Age
28%
College-Educated
85%
High-School Grad
8.4 sq mi
ZIP Area
5,383
Density / Sq Mi
$80,835
Median Household Income
$44,004
Median Earnings
$1,537
Median Rent
$438,400
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 - R-3 zoning and wall-furnace heating are identified for this multi-unit property.
Where is this apartment building located?
The property is located at 6815 24th Street Sacramento, CA.
What is the asking price?
The asking price for this property is $6,195,000.
What are key features of this property?
This property features: 21,628 square feet of property area; Built in 1969; R‑3 zoning
