704 20th St Sacramento, CA 95811-1780

This exceptional investment opportunity presents a meticulously maintained six-unit apartment building situated in the vibrant Midtown Sacramento neighborhood. The property, boasting a desirable location, comprises a charming three-story Victorian-style structure built in 1910 on a 0.07-acre lot, offering a total of 5,886 square feet of living space. The building features a mix of three spacious one-bedroom/one-bathroom units and three equally spacious two-bedroom/two-bathroom units, each approximately 1,000 square feet. Significant updates have been implemented throughout the years, including a complete overhaul of the plumbing and electrical systems within the last 15 years. Modern conveniences such as hardwood or laminate flooring, tile countertops, freshly painted kitchen cabinets, vintage wooden windows, recessed lighting, in-unit washers and dryers, and ceiling fans enhance the appeal of each unit. Four units enjoy central heating and air conditioning, while the remaining two have wall units. The current owner covers water, sewer, and garbage expenses, while tenants are responsible for their gas and electricity. A Ratio Utility Billing System (RUBS) could be implemented to potentially offset these costs, a common practice in California, adding approximately $25-75 per unit monthly. The property offers a strong 6.25% cap rate with a Net Operating Income (NOI) of $81,246, and is listed at $1,300,000 ($216,667 per unit). Additional features include a pitched composition roof, redwood siding, common area patios, and individual water heaters for each unit. This property presents a rare blend of historic character and modern updates, making it an attractive investment in a thriving Sacramento location. The permitted zoning is C-2-SPD, and the Assessor's Parcel Number (APN) is 003-0174-010.