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Key Details
Sold Price $389,250
Property Type Multi-Family
Sub Type 2 Houses on Lot
Listing Status Sold
Purchase Type For Sale
Square Footage 1,452 sqft
Price per Sqft $268
MLS Listing ID 223082504
Sold Date 10/02/24
Bedrooms 4
Full Baths 2
HOA Y/N No
Originating Board MLS Metrolist
Year Built 1940
Lot Size 6,970 Sqft
Acres 0.16
Property Sub-Type 2 Houses on Lot
Property Description
INVESTOR'S FANTASY An exceptional opportunity emerges to acquire property lining Marconi Ave with C-2 Commercial zoning, boasting the potential for subsequent commercial development. There is also the potential to enhance rental income upto $250,000 by adding Additional Dwelling Units (ADUs) on each lot, leveraging the CalHFA grant of up to $40,000 for ADU pre-development. This portfolio is strategically situated within the Opportunity Zone - tax deferral program for capital gain and enjoys a substantial average daily traffic (ADT) of 26,926 vehicles along Marconi Ave. In reference to other listings, the portfolio encompasses 8 residential units(4 SFR, 2 DUPLEXES) dispersed across 6 lots. These properties are identified as 2117, 2121, 2125, 2129, 2133, 2137 Marconi Avenue, Sacramento. The portfolio generates income through the rental of 1 Commercial Sign Board. Altogether, these properties, including the Sign Board, yield a gross rental income of $150,000.00. Refer to the attached offering memorandum.
Location
State CA
County Sacramento
Area 10821
Direction I-80 Business North, Take exit at Marconi Avenue East, Property Address will be on the Left after passing one signal.
Rooms
Guest Accommodations Yes
Living Room Other
Dining Room Space in Kitchen
Kitchen Breakfast Area
Interior
Heating Electric, See Remarks
Cooling Other
Flooring Carpet, Laminate
Laundry See Remarks
Exterior
Parking Features No Garage
Utilities Available Public
Roof Type Composition
Topography Level
Private Pool No
Building
Lot Description Shape Regular, Street Lights
Story 1
Foundation Raised
Sewer Public Sewer
Water Public
Architectural Style Traditional
Level or Stories One
Schools
Elementary Schools San Juan Unified
Middle Schools San Juan Unified
High Schools San Juan Unified
School District Sacramento
Others
Senior Community No
Tax ID 266-0170-024-0000
Special Listing Condition Offer As Is, None
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Bought with Big Block Realty North