2030 10th Street, Sacramento, CA
$8,995,000
0.22
Acres
About 2030 10th Street
The Southsider is one of the newest and most progressive mixed-use multifamily residential and retail buildings in Sacramento. Enjoying a high visibility location along 10th Street, the Southsider is a 4-story mid-rise project comprised of 21 residential units totaling 11,979 square feet and a ground floor restaurant measuring 2,734 square feet. The Property was constructed in 2021 and is currently 100% leased at market rents. The luxury residential units feature various studio, one-bedroom, and two-bedroom units all with open floor plans, spacious living areas, ample glass, and modern kitchen and bathrooms. 17 of the 21 units feature a 30 SF usable balcony. The entire ground floor retail space was recently leased to Thai Time, a new-to-market Thai restaurant that specializes in healthy and plant-based dishes. The retail lease is 7 years and 6 months long commencing September 1, 2023. The Southsider is being sold for $8,995,000 which equates to a 4.53% blended capitalization rate based upon actual income & OpEx. The buyer may assume the existing $5,800,000 loan, which is approx. 64% loan-to-value. The loan matures July 31, 2031 (more than 8 years left) with a current interest rate of 3.75% fixed for three more years.
Facts & Features
MLS® # | 224037627 |
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Price | $8,995,000 |
Acres | 0.22 |
Year Built | 2020 |
Type | Residential Income |
Sub-Type | 5 or More Units |
Style | Modern/High Tech |
Status | Pending |
Community Information
Address | 2030 10th Street |
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Area | 10818 |
City | Sacramento |
County | Sacramento |
State | CA |
Zip Code | 95818-1312 |
Amenities
Parking Spaces | 12 |
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Parking | Covered,Uncovered |
Has Pool | No |
Interior
Interior | Laminate |
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Heating | Central |
Cooling | Central |
Fireplace | No |
Exterior
Lot Description | Court |
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Roof | Flat |
Foundation | Concrete |
School Information
District | Sacramento Unified |
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Elementary | Sacramento Unified |
Middle | Sacramento Unified |
High | Sacramento Unified |
Additional Information
Zoning | C-2-SPD |
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Listing Details
Office | Ken Turton, Broker |
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