1911 P St Sacramento, CA 95811

Property Details for 1911 P St

Year built

1945

Lot size

0.15 lot acres

Property size

2,105 SF

Property type

Commercial real estate

APN

007-0244-016-0000

Description

This exceptional investment opportunity presents a fully renovated, 2-unit duplex in Sacramento's vibrant Midtown neighborhood. The property, built in 1945 and extensively renovated in 2023, boasts a total of 2,105 square feet, with each unit offering approximately 1,025 and 1,085 square feet respectively. Both units feature two bedrooms and one bathroom, updated kitchens and bathrooms, new mini-split HVAC systems, flooring, paint, plumbing, and electrical wiring. Currently 100% occupied with leases averaging $2,290 per month, generating a strong net operating income (NOI) of $35,130 and a 5.00% cap rate. The asking price is $995,000, translating to $472 per square foot. Situated on a 0.15-acre lot (6,534 square feet), the property offers significant development potential. The C-2-PSD zoning and the 2040 General Plan's Residential Mixed Use designation allow for the construction of additional residential units (buyer to verify with the City of Sacramento). The property's location is highly desirable, within walking distance of Ice Blocks, Safeway Shopping Center, Truitt Bark Park, and public transportation, including the 16th Street Light Rail station. The property's location on Opera Alley, a well-maintained and quiet alley, adds to its appeal. The potential for increased income exists through the addition of on-site parking or utility reimbursement for tenants. This property represents a rare blend of immediate income and future development potential in a thriving Sacramento location. The APN is 007-0244-016-0000.