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$2,000,000

$2,400,000 16.7%

Est. payment - /mo

4,742 SqFt

Sold on 06/23/2025

3132 3rd AVE Sacramento, CA 95817

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Dennis Sanchez

Founder | Broker Associate | CA DRE#01906875

+1(415) 988-1923

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Key Details

Sold Price $2,000,000

Property Type Multi-Family

Sub Type 5 or More Units

Listing Status Sold

Purchase Type For Sale

Square Footage 4,742 sqft

Price per Sqft $421

MLS Listing ID 225012972

Year Built 1960

Lot Size 0.280 Acres

Property Sub-Type 5 or More Units

Property Description

3130 - 3132 3rd Ave in the Oak Park neighborhood is a sixteen-unit apartment community that features both one- and two-bedroom floorplans. The property is very well located, only minutes to downtown / midtown Sacramento, the region's economic and entertainment epicenter. As a part of the triangle district area of North Oak Park, residents are within walking distance to the regions preeminent medical care, UC Davis Medical Center and UC Davis Aggie Square Innovation Hub. The neighborhood also lies at the intersection of CA Hwy 99, US Hwy 50, and Interstate Business 80, allowing residents immediate access to all major throughways in the region. The property features off street alley parking, gated entry, and onsite laundry facilities. The offering represents a unique opportunity to purchase a cash flowing asset day one, but the next investor will have a clear-cut strategy to massively increase value through renovations and aggressive management. Competitive sets suggest that the September 2024 rent roll is approximately 20% below the market and the erosion of the loss to lease would push the capitalization rate to exceed 8%.

Location

State CA

County Sacramento

Area 10817

Rooms

Other Rooms Unit-1 Type: Apartment Approx SqFt: 550 Bedrooms: 1 Full Baths: 1 Total Rooms: 3 Occupancy: Tenant Rent: 1150 SqFt Source: Owner Unit-2 Type: Apartment Bedrooms: 2 Full Baths: 1 Occupancy: Tenant Rent: 1550

Interior

Heating Wall Furnace

Cooling Wall Unit(s)

Flooring Vinyl, Linoleum

Laundry In Common Area

Exterior

Parking Features Off Street, Street

Utilities Available City

Building

Lot Description Sidewalk

Story 2

Foundation Raised

Sewer Private Sewer

Water Public

Schools

Elementary Schools Sacramento Unified

Middle Schools Sacramento Unified

High Schools Sacramento Unified

School District Sacramento

Others

Special Listing Condition None

Listed by Marcus & Millichap Real Estate
Bought with Marcus & Millichap Real Estate

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Dennis Sanchez

Founder | Broker Associate | CA DRE#01906875

+1(415) 988-1923

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3132 3rd AVE Sacramento, CA 95817

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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3132 3rd AVE