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The Nelly 3000 T St 10 Unit Apartment Building $3,939,073 CAD ($393,907 CAD/Unit) 5.73% Cap Rate Sacramento, CA 95816
Investment Highlights
- Newly completed adaptive reuse conversion delivering 10 multifamily units in Sacramento’s urban core
- Low-maintenance asset following extensive retrofitting and modernization of major building systems
- Walkable, bike-friendly location with convenient connectivity to Downtown Sacramento, Highway 50, and regional transportation corridors
- 100% occupied with lease-up completed following recent conversion
- Desirable unit mix of studio, one, and two bedroom units designed to appeal to a broad tenant base seeking Midtown/East Sacramento living
- Located near major employment, retail, dining, and transportation amenities
Executive Summary
Now offered at $2,845,000, with an aggregate price adjustment of $312,000, this newly completed office-to-residential conversion comprises 10 fully occupied units strategically located between Midtown and East Sacramento. The revised pricing represents a 5.73% cap rate based on actual in-place income, providing investors an opportunity to acquire a stabilized, cash-flowing asset at a compelling basis. The comprehensive conversion included significant retrofitting and modernization of the property’s major building systems, including MEP infrastructure and roof improvements. The result is a substantially repositioned, low-maintenance multifamily asset with limited near-term capital requirements and durable long-term investment fundamentals.
The property was recently separated through a lot split from an adjacent parcel located directly north of the subject property, which is currently advancing through the entitlement process for a proposed 28-unit multi-family development. The future development is expected to further enhance the immediate area through additional residential density, investment, and neighborhood activation while maintaining the subject property’s positioning within a growing urban infill corridor.
The asset is strategically located with convenient access to Downtown Sacramento, Highway 50, Business 80, and major employment centers, including UC Davis Health, Sutter Health, Kaiser Permanente Sacramento Medical Center, and the State of California.
The property was recently separated through a lot split from an adjacent parcel located directly north of the subject property, which is currently advancing through the entitlement process for a proposed 28-unit multi-family development. The future development is expected to further enhance the immediate area through additional residential density, investment, and neighborhood activation while maintaining the subject property’s positioning within a growing urban infill corridor.
The asset is strategically located with convenient access to Downtown Sacramento, Highway 50, Business 80, and major employment centers, including UC Davis Health, Sutter Health, Kaiser Permanente Sacramento Medical Center, and the State of California.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $3,939,073 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $393,907 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.19 AC |
| Cap Rate | 5.73% | Building Size | 7,896 SF |
| No. Units | 10 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1982/2026 |
| Zoning | RO-SPD | ||
| Price | $3,939,073 CAD |
| Price Per Unit | $393,907 CAD |
| Sale Type | Investment |
| Cap Rate | 5.73% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.19 AC |
| Building Size | 7,896 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1982/2026 |
| Zoning | RO-SPD |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Heating
- Tile Floors
- Hardwood Floors
- Stainless Steel Appliances
- Tub/Shower
- Double Pane Windows
- Patio
- Skylights
- Wheelchair Accessible (Rooms)
- Quartz Countertops
Site Amenities
- Controlled Access
- Tenant Controlled HVAC
- Wheelchair Accessible
- Multi Use Room
- Key Fob Entry
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 6 | $2,319 CAD | 475 - 664 |
| 1+1 | 2 | $2,977 CAD | 720 - 756 |
| 2+1 | 1 | $3,178 CAD | 783 |
| 2+2 | 1 | $3,531 CAD | 1,001 |
Moderately walkable
70/100
Moderately drivable
70/100
Good public transit
70/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 010-0131-025 | Improvements Assessment | $1,083,108 CAD |
| Land Assessment | $1,265,004 CAD | Total Assessment | $2,348,112 CAD |
Property Taxes
Parcel Number
010-0131-025
Land Assessment
$1,265,004 CAD
Improvements Assessment
$1,083,108 CAD
Total Assessment
$2,348,112 CAD
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The Nelly | 3000 T St
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