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2323 W St 8 Unit Apartment Building $1,954,288 CAD ($244,286 CAD/Unit) 5.43% Cap Rate Sacramento, CA 95818
INVESTMENT HIGHLIGHTS
- Desirable Location | Newton Booth/Midtown, one of Sacramento’s strongest rental submarkets
- Below-Market Rents | In-place rents approx. 20% under market with $350–$450/month upside per unit
- Attractive Returns | 5.43% current cap rate; 7.14% projected at market rents
- Efficient Unit Mix | Eight (8) ±670 SF 1BD/1BA units with updated interiors
- Immediate Upside | One turn-key vacant unit ready to lease at market rate
- On-Site Amenities | Laundry facility (leased) and dedicated parking for all units
EXECUTIVE SUMMARY
Coldwell Banker Commercial G.R. is pleased to present 2323 W Street, an 8-unit multifamily property located in Sacramento’s desirable Newton Booth neighborhood, adjacent to Midtown—one of the region’s most vibrant and supply-constrained rental submarkets.
Built in 1972 and well maintained by long-term ownership, the property features eight (8) spacious 1-bedroom, 1-bathroom units (±670 SF each) with updated interiors, durable vinyl flooring, and abundant natural light. Each unit includes one on-site parking space located in the back of the building, and the building offers a leased on-site laundry facility.
The average rent is currently $1,149/month—approximately 20% below market—creating a significant value-add opportunity. One unit is vacant and in rent-ready condition, offering immediate upside potential. Based on the projected rent of $1,500/month for the vacant unit, the offering reflects a 5.43% cap rate. With modest CPI + 5% rent growth (approx. 7.7%), the yield improves to 5.84%, and full stabilization supports a projected 7.14% cap rate.
Located minutes from the State Capitol, Downtown Sacramento, and major employment centers, 2323 W Street is ideally positioned for long-term appreciation and rent growth.
Built in 1972 and well maintained by long-term ownership, the property features eight (8) spacious 1-bedroom, 1-bathroom units (±670 SF each) with updated interiors, durable vinyl flooring, and abundant natural light. Each unit includes one on-site parking space located in the back of the building, and the building offers a leased on-site laundry facility.
The average rent is currently $1,149/month—approximately 20% below market—creating a significant value-add opportunity. One unit is vacant and in rent-ready condition, offering immediate upside potential. Based on the projected rent of $1,500/month for the vacant unit, the offering reflects a 5.43% cap rate. With modest CPI + 5% rent growth (approx. 7.7%), the yield improves to 5.84%, and full stabilization supports a projected 7.14% cap rate.
Located minutes from the State Capitol, Downtown Sacramento, and major employment centers, 2323 W Street is ideally positioned for long-term appreciation and rent growth.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
| Price | $1,954,288 CAD | Building Class | C |
| Price Per Unit | $244,286 CAD | Lot Size | 0.15 AC |
| Sale Type | Investment | Building Size | 5,460 SF |
| Cap Rate | 5.43% | Average Occupancy | 96% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1965 |
| Property Subtype | Apartment | Parking Ratio | 1.47/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R1B, Sacramento | ||
| Price | $1,954,288 CAD |
| Price Per Unit | $244,286 CAD |
| Sale Type | Investment |
| Cap Rate | 5.43% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 5,460 SF |
| Average Occupancy | 96% |
| No. Stories | 2 |
| Year Built | 1965 |
| Parking Ratio | 1.47/1,000 SF |
| Zoning | R1B, Sacramento |
AMENITIES
UNIT AMENITIES
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | - | - |
1 1
Walk Score®
Very Walkable (86)
Bike Score®
Biker's Paradise (99)
PROPERTY TAXES
| Parcel Number | 010-0165-017 | Improvements Assessment | $550,599 CAD |
| Land Assessment | $155,901 CAD | Total Assessment | $706,500 CAD |
PROPERTY TAXES
Parcel Number
010-0165-017
Land Assessment
$155,901 CAD
Improvements Assessment
$550,599 CAD
Total Assessment
$706,500 CAD
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2323 W St
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