1819 23rd St Sacramento, CA 95816-7111

This exceptional value-add investment opportunity encompasses two adjacent warehouse buildings totaling 13,532 square feet situated on a 0.58-acre lot in Sacramento, CA. The property, located at 1819 23rd Street and 2311 S Street (APN: 010-0035-006-0000; 010-0035-005-0000), is zoned RMX-SPD and offers significant upside potential. Built in 1948 and 1961, the buildings currently generate approximately $71,000 in annual gross income from various month-to-month tenants, including a saloon, auto body shop, recording studio, and artist workshops. The asking price is $3,200,000, translating to $125 per square foot based on land area, or $236 per square foot based on building area. The property's prime location at the corner of 23rd and S Streets presents a compelling opportunity for short-term income generation while pursuing long-term development options. Recent comparable land sales support redevelopment potential, with prices ranging from $125 to $150 per square foot for multi-family residential projects. The updated 2040 Sacramento General Plan (pending approval) suggests potential for increased floor-to-area ratios, maximizing unit density for a future development. This unique property offers a rare chance to capitalize on Sacramento's thriving R Street corridor and create a lasting impact. The property's current income stream provides a strong foundation for a buyer to evaluate and pursue the highest and best use for this strategically located asset.