3516 P Street, Sacramento, CA 95816, Sacramento, 95816 - 4 bed, 2 bath
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Sacramento, CA 95816
This Residential Income Duplex presents a High-Potential Investment Opportunity, listed at $693,000—positioned above the $610,791 Fair Market Value. While the property requires significant interior modernization due to its Condition Rating of 5, the prime location near the Fab 40s ensures strong rental demand. The layout, featuring private backyards and garage access, supports a versatile house-hack strategy. This asset is best suited for Buy-and-Hold Investors or Owner-Occupants capable of executing a value-add renovation to capture long-term appreciation.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 3516 P Street Subject | $693,000* List Price | 4 | 2 | 1,640 | $372 | - |
A 2729 P Street Active | $695,000 List Price | 5 | 4 | 1,876 | $370 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1953 with mostly original features, this property exceeds the 30-50 year threshold for major systems. The kitchen is highly dated with original-style cabinetry and tile, and the units lack central HVAC, relying on older wall heaters and window units. While functional as an income property, it requires a full interior rehab to meet modern standards.
Ideally situated on the edge of Midtown near the prestigious Fab 40s, offering high rental demand and long-term appreciation in one of Sacramento's most desirable, tree-lined neighborhoods.
With one unit vacant and the other generating revenue, this duplex is perfect for an owner-occupant looking to offset their mortgage or an investor seeking immediate cash flow and market-rate leasing.
Each unit features its own garage and a spacious private backyard with alley access, providing a level of privacy and convenience rarely found in dense urban multi-family properties.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1640, other record living area = 1720.
Built in 1953, the property may require ongoing capital expenditures for aging systems or modern cosmetic updates to achieve top-of-market rental rates and efficiency.
The property has been on the market for 44 days and has already undergone a price reduction, suggesting that the initial valuation may have been high for current market conditions.
The dream income property, with one unit vacant and the other generating revenue for you! This duplex is positioned on the edge of Midtown and just moments from the coveted Fab 40s, this rare multi-unit offering is tucked into one of Sacramento's most charming and sought-after pockets where tree-lined streets, character homes, and lifestyle converge. Situated on a single parcel, the property features two well-appointed units, each with its own garage, and thoughtful separation, creating an ideal blend of privacy and functionality. The layout lends itself seamlessly to today's most in-demand living trends, whether you're seeking a high-performing investment, a house-hack opportunity, or a multi-generational living arrangement. The grounds are framed by mature landscaping and complemented by spacious private backyards, offering a sense of retreat that's increasingly hard to find in urban settings. Alley access (for one unit) adds another layer of convenience and long-term flexibility. Located close to all the magic and amenities this part of Sacramento has to offer. For the savvy buyer, this is a versatile asset with strong income potential and long-term upside. For the lifestyle-driven buyer, it presents an opportunity to curate, enhance, and truly elevate the space into something exceptional. Turnkey and ready for immediate use, or a canvas for your next level vision this is the kind of opportunity that aligns with where the market is headed. With one unit soon to be vacant, you could move in or upgrade while generating revenue from the other. Opportunities like this in this location are few and far between.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 4.0 | 50% |
| Baths | 2.0 | 3.0 | 50% |
| Square foot | 1,640 | 2,410 | 33% |
| Lot Size | 6,399 | 6,031 | 50% |
| Price | $693.0K | $759.5K | 17% |
| Price per sq ft | $423 | $411 | 67% |
| Built year | 1953 | 1925 | 83% |
| HOA | $0 | $0 | 50% |
| Days on market | 68 | 172 | 17% |
May 22, 2026
$693,000
$710,000
-2% Price Drop
Initial Listing
Apr 8, 2026
$710,000
Initial Listing