3309 1St AveSacramento, CA 95817

  • Residential income properties
  • 3,978 SF
For Sale
$1,299,999 View listing

Property Details for 3309 1St Ave

Year built
1950
Construction
WOOD
Lot size
0.14 AC
Property size (Sq ft)
3,978 SF
Zone code
RMX
Property type
Residential income properties
Property subtype
Other apartment buildings
APN
010-0311-018-0000
APU
1003110180000

Description

This exceptional 8-unit apartment building, located at 3309 1st Avenue in Sacramento, CA 95817, presents a compelling investment opportunity. Built in 1950, this two-story, Class B property boasts 3,928 square feet of net rentable space, currently enjoying 100% occupancy. Each of the eight units offers approximately 491 square feet of living space, featuring one bedroom and one bathroom. The property features a pitched shingle composition roof, stucco/wood siding, and the majority of windows are dual-pane. Electrical panels have been updated, and each unit includes wall heat and air units. On-site laundry facilities add to the convenience for residents. Situated on a 0.14-acre lot, the property is zoned for multifamily use and is conveniently located in the popular Triangle District of North Oak Park. Its prime location offers easy access to numerous amenities, including coffee shops, restaurants, McGeorge School of Law, UC Davis Medical Center, and the Aggie Square Innovation Hub. Major freeways (Highway 50, Highway 99, and Business Loop 80) are also readily accessible. The property benefits from its proximity to significant ongoing developments, including the Aggie Square Innovation Hub and the Railyards redevelopment project, which promises to further enhance the area's desirability and property values. The asking price is $1,299,999, representing $162,499.88 per unit and $330.96 per square foot. The property is offered fee simple and is suitable for a 1031 exchange. Drive-by viewing only

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $1,497,349
    6.5%
    $1,382,168
    7%
    $1,283,442
  • Comparable approach

    Method
    Valuation
    Relative Method
    $880,367
    Geo Method
    $880,367
  • Alternative Use

    Use
    Valuation
    Residential
    $1,382,168
    Hospitality
    $1,266,058
    Educational
    $1,053,346
    Medical
    $1,089,572
    Retail
    $1,638,538
3309 1St Ave, Sacramento, California

Location Insight

City
Sacramento
County
Sacramento
State
California
Latitude
38.5546
Longitude
-121.47
CBSA code
40900
CBSA name
SACRAMENTO--ARDEN-ARCADE--ROSEVILLE, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$7,818
$72,103
$522,790
$594,893
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