Midtown Manor Rooming House | 515 21st St
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Midtown Manor Rooming House 515 21st St
17 Unit Apartment Building $3,087,529 CAD ($181,619 CAD/Unit) 6.50% Cap Rate Sacramento, CA 95811
Investment Highlights
- Recent price decrease! Most affordable housing in Midtown with reliable cash flow when fully leased
- Recently renovated building with modern interior and exterior finishes
- Walking and biking distance to many popular Midtown amenities
- Two story building; 17 dorm-style studios, 2 shared kitchens, 3 shared bathrooms, and 1 shared laundry room
- 6 covered parking stalls and abundant street parking
- Seller financing possible
Executive Summary
515 21st Street is located in Boulevard Park - a quiet and historic neighborhood in Midtown Sacramento esteemed for its original craftsman and colonial homes, spectacular tree canopy, and easy walking and biking distance to dozens of cafes, grocers, employers, bars, and venues.
This property features a total building area of approximately 4,161 square feet, comprising a two-story building with 17 dorm-style studios, two shared kitchens, three shared bathrooms, and one shared laundry room. It also offers six covered parking stalls, in addition to abundant street parking. The building has undergone recent renovations, boasting modern interior and exterior finishes that enhance its appeal. Positioned as the most affordable housing option in Midtown, it promises reliable cash flow when fully leased. The location is highly desirable, within walking and biking distance to a variety of popular Midtown amenities. These include La Costa Cafe, New Roma Bakery, Target, Bonfare Market, Ace Hardware, The Mill Coffee, At Ease Brewing, among others, as well as several accessible bus stops, making it an attractive choice for tenants seeking convenience and affordability in a vibrant community.
This property features a total building area of approximately 4,161 square feet, comprising a two-story building with 17 dorm-style studios, two shared kitchens, three shared bathrooms, and one shared laundry room. It also offers six covered parking stalls, in addition to abundant street parking. The building has undergone recent renovations, boasting modern interior and exterior finishes that enhance its appeal. Positioned as the most affordable housing option in Midtown, it promises reliable cash flow when fully leased. The location is highly desirable, within walking and biking distance to a variety of popular Midtown amenities. These include La Costa Cafe, New Roma Bakery, Target, Bonfare Market, Ace Hardware, The Mill Coffee, At Ease Brewing, among others, as well as several accessible bus stops, making it an attractive choice for tenants seeking convenience and affordability in a vibrant community.
Property Facts
| Price | $3,087,529 CAD | Building Class | C |
| Price Per Unit | $181,619 CAD | Lot Size | 0.10 AC |
| Sale Type | Investment | Building Size | 5,423 SF |
| Cap Rate | 6.50% | No. Stories | 2 |
| No. Units | 17 | Year Built | 1968 |
| Property Type | Multifamily | Tenancy | Single |
| Property Subtype | Apartment | Parking Ratio | 1.44/1,000 SF |
| Apartment Style | Low Rise | Corridor | Interior |
| Price | $3,087,529 CAD |
| Price Per Unit | $181,619 CAD |
| Sale Type | Investment |
| Cap Rate | 6.50% |
| No. Units | 17 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 5,423 SF |
| No. Stories | 2 |
| Year Built | 1968 |
| Tenancy | Single |
| Parking Ratio | 1.44/1,000 SF |
| Corridor | Interior |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 17 | - | - |
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Walk Score ®
Walker's Paradise (91)
Bike Score ®
Biker's Paradise (99)
PROPERTY TAXES
| Parcel Number | 003-0132-001 | Improvements Assessment | $1,411,548 CAD |
| Land Assessment | $495,948 CAD | Total Assessment | $1,907,496 CAD |
PROPERTY TAXES
Parcel Number
003-0132-001
Land Assessment
$495,948 CAD
Improvements Assessment
$1,411,548 CAD
Total Assessment
$1,907,496 CAD
zoning
| Zoning Code | R-1B |
| R-1B |
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Midtown Manor Rooming House | 515 21st St
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