Listed by Marcus & Millichap - Sacramento, Marcus & Millichap - Downtown Sacramento, Marcus & Millichap - Encino
$1,495,000
2823 U Street
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 7,980
Units 10
Cap Rate 4.16%
NOI $62,167
Occupancy 95%
Tenancy Multi
Pro-Forma Cap Rate 7.23%
Pro-Forma NOI $108,073
Price per SqFt $187
Year Built 1962
Acreage 0.150
Investment Type Value Add
Multifamily | 10 Units | $149,500/unit
Marketing description
The DeLoney Group of Marcus & Millichap has been retained to list fee simple interest in 2823 U Street, a well-located 10-unit apartment community in one of Sacramento's most desirable urban neighborhoods. Situated just blocks from the vibrant Midtown corridor and in close proximity to East Sacramento, the property benefits from strong tenant demand driven by its walkability, access to major employment centers, and proximity to Sacramento's best dining, retail, and entertainment amenities.
The property offers a compelling value-add opportunity through continued unit renovations and rent growth. Current operations indicate meaningful upside as units are modernized and rents are aligned with surrounding market-rate properties. The underwriting projects a significant increase in net operating income through a combination of rental upside, utility reimbursements, and operational efficiencies, creating a clear path to enhanced cash flow and long-term appreciation.
Please do not disturb management or residents. All tours must be scheduled through David DeLoney.
Investment highlights
- Value-Add Rental Upside - Opportunity to increase revenue through continued interior renovations, creating significant future income growth.
- Prime Midtown / East Sacramento Location - Highly walkable location near restaurants, nightlife, employment centers, public transportation, and neighborhood amenities that continue to attract quality
- Desirable Unit Mix - Efficient one- and two-bedroom floorplans appeal to Sacramento's largest renter demographic, supporting long-term occupancy and rent growth.
Listing Contacts
Listed by Marcus & Millichap - Sacramento, Marcus & Millichap - Downtown Sacramento, Marcus & Millichap - Encino
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$62,167.00
$5,180.58/mo
Valuation Metrics
0
DSCR
4.16%
Cap Rate
4.16%
ROI
Map
Zoning
C-2-SPD-CENC SpecialGeneral Commercial Zone Special Planning Central City
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View all 200 uses Last updated May 8, 2026 For deeper zoning details, reports are available at Zoneomics
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