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  • For sale
1818 P Street | 12 Units - #1

For Sale

$3,950,000 USD

1818 P Street underwent extensive updating over the past year with completion of the exterior and twelve fully renovated units in 2023.  The property is currently vacant and management is now beginning the lease up phase so a purchaser can buy the property empty then lease up after closing or a purchase contract can be negotiated for closing after the property reaches an established occupancy rate.  
As a remodeled community with renovated units this provides a modern vibe and turn-key opportunity.  The property was originally built in 1954 but after a significant updating this complex has an appearance of a newly designed community to meet the gentrification occurring in Downtown-Midtown.
This three-story building consists of 12-units that are a combination of one- and two-bedroom townhouse units with eight off-street parking spaces and remodeled interior hallways.  The property has new roof and gutters, brand-new windows throughout, and new balconies for the upper floor units.  All the units have been fully remodeled with an open floor plan to meet the live, play, work lifestyle of today.  More residents desire these unit types because it allows them to have an enhanced sociability, communication, and functionality of their home.  The kitchen features stainless steel appliances with refrigerator, dishwasher, electric stove, and microwave.   There are new kitchen cabinets and vanities with quartz countertops.  Lighting has been updated within the living area and bedrooms feature illuminating ceiling fans.  Flooring throughout the living area, bathroom, and bedroom are new vinyl plank other than in the third-floor bedrooms which is carpeted.   Stackable washer and dryer were added in each unit for the resident’s convenience.  On the exterior the parking area is gated with a motorized entry system and on the front door there is a digital intercom system for when guests arrive, or packages are delivered.
As a well-located property in Capitol Avenue the residents at 1818 P Street have easy access to all things that make Downtown-Midtown Sacramento a thriving community.  Restaurants and shopping are all within walking distance plus the California State Capitol and Golden One Center are only a short trip away.  The CORE of Sacramento is a driving force for the region and helps the community thrive.  Business professionals and many others want to be in this top submarket because of the vibrant activity that makes a city home.
Investors know there is high demand for rentals in this submarket and a new owner will benefit from the remodel and strength of the location that 1818 P Street provides.