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The Orleans 1024 2nd St 24 Unit Apartment Building $11,521,246 CAD ($480,052 CAD/Unit) 5.45% Cap Rate Sacramento, CA 95814

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Executive Summary

The Orleans is a mixed-use property developed from the ground up in the mid-2000s and has remained under the same ownership since its completion in 2008. The property consists of 24 loft-style residential units above a ground-floor restaurant space. Residential units include 16 units with 13- to 18-foot ceilings and eight two-story lofts, many featuring private balconies and/or rooftop terraces. The property also includes secured underground parking with designated spaces and key fob elevator access to each floor.
Strong underlying bones, complemented by nearly two decades of consistent ownership and proactive maintenance.

The Orleans

Property Facts

Price	$11,521,246 CAD	Building Class	B
Price Per Unit	$480,052 CAD	Lot Size	0.27 AC
Sale Type	Investment	Building Size	45,000 SF
Cap Rate	5.45%	Average Occupancy	100%
Gross Rent Multiplier	9.28	No. Stories	3
No. Units	24	Year Built	2008
Property Type	Multifamily	Parking Ratio	0.53/1,000 SF
Property Subtype	Apartment General Retail Storefront Retail/Residential	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Apartment Style	Hi-Rise
Zoning	C-3

Price	$11,521,246 CAD
Price Per Unit	$480,052 CAD
Sale Type	Investment
Cap Rate	5.45%
Gross Rent Multiplier	9.28
No. Units	24
Property Type	Multifamily
Property Subtype	Apartment General Retail Storefront Retail/Residential
Apartment Style	Hi-Rise
Building Class	B
Lot Size	0.27 AC
Building Size	45,000 SF
Average Occupancy	100%
No. Stories	3
Year Built	2008
Parking Ratio	0.53/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	C-3