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2518 X Street

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Address: 2518 X St, Sacramento, CA 95818, USA

California & West + Apartment Buildings

Created date: November 6, 2024

Date last updated: November 6, 2024

• One-, Two-, and Three-bedroom units
• Central heat/air
• Pitched roof
• Off-street parking
• On-site Laundry
• Solid in-fill location

Property Description

Colliers is pleased to present 2518 X Street, a well maintained 7-unit multi-family apartment community located on the cusp of Midtown Sacramento, Land Park and Curtis Park which are all excellent rental submarkets of Sacramento. The subject property sits on a 0.15-acre parcel and consists of 5,889 square feet of living space. This community offers a desirable unit mix of one, two and three-bedroom units. The current owner has updated the majority of the units with many exterior upgrades as well. Interior remodels vary by unit, but all include new flooring, paint, new appliances, as well as kitchen and bathroom touches. The property comes with parking in the back and a secured gated entrance. A new owner will be able to improve revenues by narrowing the existing loss to lease via annual rent increases on longer term tenants, adding coin operated laundry equipment to the laundry room, charging for parking spaces and by implementing a Ratio Utility Billing System (RUBS) to bill a portion of the sewer, water, and garbage charges to all residents. The complex right off of highway 80 which gives tenants close proximity to everything that Sacramento has to offer. Residents further benefit from walking distance and drivability to a vast amount of employment, shopping, and dining experiences. Being well-located between all of Sacramento’s major highways makes this location convenient for its tenants to have quick mobility to the Greater Sacramento Area which includes attractions and conveniences such as Golden 1 Center, the Sacramento Airport, and all the other regional activities that make Sacramento a thriving community.

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Key Property Information

Listing Status:	Available
Listing Type:	Highest & best offer
Property Types:	Apartment Buildings
Price:	$1,475,000
No. of Units:	7
Cap Rate:	5.26%
GRM /GIM:	11.57
Year Built:	1974
Building Size:	5,800 Sq ft
Lot Size:	0.15 Acres
No. of Stories:	1
APN:	010-0233-008
Zoning Code:	RO-SPD
Opportunity Zone:	No
Price per unit:	$210,714
Parking Spaces:	7