Listed by Marcus & Millichap - Sacramento, Marcus & Millichap - Downtown Sacramento
$1,825,000
2401-2409 24th Street
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 5,400
Units 10
Cap Rate 5.00%
NOI $91,323
Tenancy Multi
Pro-Forma Cap Rate 6.20%
Pro-Forma NOI $113,073
Price per SqFt $338
Year Built 1923
Acreage 0.150
Investment Type Value Add
Multifamily | 10 Units | $182,500/unit
Marketing description
Marcus & Millichap is pleased to present the exclusive opportunity to acquire 2401 24th Street, a well-maintained 10-unit apartment community ideally positioned just minutes from Downtown Sacramento and the California State Capitol. The property features a diverse unit mix of one-bedroom, two-bedroom, and studio floor plans.
2401 24th Street offers investors a compelling value-add opportunity driven by both operational and rental upside, while benefiting from strong in-place fundamentals and an irreplaceable infill location. The property is in excellent physical condition, with select units recently renovated, reducing immediate capital expenditure requirements. Additionally, the property features garage parking - a highly sought-after amenity in Midtown Sacramento where secure parking is limited.
Average rent at the property is below market, presenting a clear pathway to revenue growth through strategic management, unit interior upgrades upon turnover, and thoughtful rent realignment to market levels. 2401 24th Street provides investors with the rare combination of stable occupancy, strong physical integrity, and meaningful upside potential in one of California's most dynamic and supply-constrained rental markets.
All tours must be scheduled. Please do not disturb management or residents.
Investment highlights
- Proven Value-Add Opportunity Management Upside
- Prime Central Sacramento Grid Location - Minutes to State Capitol, Golden 1 Cener, and Sutter Medical Center
- Rare Core Sacramento Garage Space Amenity
- Convenient Access to Interstate 80, US 50, and Interstate 5
Listing Contacts
Listed by Marcus & Millichap - Sacramento, Marcus & Millichap - Downtown Sacramento
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$91,323.00
$7,610.25/mo
Valuation Metrics
0
DSCR
5%
Cap Rate
5%
ROI
Map
Zoning
RO-SPD-CENC SpecialResidential Office Zone Special Planning Central City
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View all 59 uses
View all 59 uses Last updated May 8, 2026 For deeper zoning details, reports are available at Zoneomics
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