3309 1St AveSacramento, CA 95817
- Apartment buildings
- 3,978 SF
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
- 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
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
Comparable in this City
Similar Nearby for Sale
FAQs
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