2711 I Street, Sacramento, CA 95816, Sacramento, 95816 - 4 bed, 4 bath
2711 I Street
Sacramento, CA 95816
Property Price
SUMMARY
Analysis of 2711 I Street, Sacramento, CA 95816 is currently available with a list price of $1,600,000. The property maintains a Good Condition Rating (78/100), reflecting solid structural condition with well-maintained systems. The property presents an attractive opportunity for buyers seeking a move-in ready home. Located in a high-demand neighborhood within the Sacramento Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Condition Analysis
OVERALL CONDITION SCORE
Property is move-in ready.
Built in 1920, this multi-unit property has undergone significant recent updates, including dual-pane windows, tankless water heaters, new exterior paint, and refreshed fixtures and interior paint. Unit B showcases a modern kitchen with white shaker cabinets, granite countertops, stainless steel double ovens, and hardwood floors, indicating a recent high-quality renovation. Other units, like Unit C, feature older but well-maintained kitchens with functional white appliances and tile/hardwood flooring. The common areas and exterior are clean and well-kept. While not all units are fully renovated to the highest modern standards, the property is move-in ready with no immediate major renovations required, aligning with the 'Good' condition criteria. The absence of central cooling is a notable drawback but does not detract from the overall well-maintained and updated state of the property.
PROSSTRENGTHS & OPPORTUNITIES
- Desirable Location
Situated in the highly sought-after heart of Midtown Sacramento, offering a central and quiet environment away from freeway noise, which is a significant draw for tenants.
- Robust Investment Metrics
Presents attractive financial figures with a $114,400 Gross Scheduled Income (GSI), a 5.3% Capitalization Rate, and a 7.2 Gross Rent Multiplier (GRM), indicating a solid return on investment.
- Multiple Rental Units
Comprises four 1-bedroom/1-bathroom units, an additional attic unit, and converted 3-car garage storage/studio spaces, providing diversified income opportunities.
CONSRISKS & DEFICIENCIES
- Potential Non-Conforming Units
The description mentions an 'additional attic 1/1 unit' and 'converted 3-car garage storage/studio spaces,' which may not be legally permitted or up to code, potentially exposing the buyer to compliance risks and future remediation costs.
- Property Age
Built in 1920, the property, despite recent updates, may still have underlying age-related issues with major systems (e.g., plumbing, electrical, foundation) that could require significant future maintenance or repairs.
- Absence of Central Cooling
The property description does not mention a central cooling system, which could be a significant drawback for tenant comfort and marketability, especially given Sacramento's hot summer climate.
About 2711 I Street
** Exceptional Midtown Sacramento Investment Opportunity ** A $114,400 GSI, 5.3% Cap Rate, 7.2 GRM. This complex is in the highly sought-after heart of Midtown. This landmark property in central location, away from freeway noise and overpass traffic. Four 1bed/1bath units, additional attic 1/1 unit; and converted 3-car garage storage/studio spaces in alley, an opportunity for extra income. Exterior new paint and units updated with dual pane windows, tankless water heaters, new fixtures and paint. Beautiful fountain in front and serene pond in back. A must see.
Property Details
Public Facts
- Property Type
- Quadruplex
- Year Built
- 1920
- Lot Size
- 6,534 Sq. Ft.
Interior
- Total Bedrooms
- 4
- Total Bathrooms
- 4 (4 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sacramento Unified Schools
David Lubin Elementary School
Grades K-6 • 0.7 mi
Washington Elementary School
Grades K-6 • 0.8 mi
Theodore Judah Elementary School
Grades K-6 • 1.0 mi
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 4.0 | 50% |
| Baths | 4.0 | 4.0 | 50% |
| Square foot | 3,502 | 2,486 | 78% |
| Lot Size | 6,534 | 5,663 | 67% |
| Price | $1.39M | $1.20M | 67% |
| Price per sq ft | $396 | $446 | 33% |
| Built year | 1920 | 1920 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 506 | 249 | 0% |
Pricing History
Listed for Sale
Oct 17, 2024
$1,600,000
Initial Listing