2006 U Street, Sacramento, CA 95818
Local realty services provided by:ERA Carlile Realty Group
2006 U Street,Sacramento, CA 95818
$1,497,500
- - Beds
- - Baths
- 3,090 sq. ft.
- Multi-family
- Active
Listed by: jon lang
Office: ken turton, broker
MLS#:226007648
Source:MFMLS
Price summary
- Price:$1,497,500
- Price per sq. ft.:$484.63
About this home
The Grove'', located in the exclusive Poverty Ridge neighborhood in Midtown, is an excellent long-term investment opportunity with several different ways to create additional value. The Property consists of two adjacent parcels improved with a triplex and a single-family house, both beautifully renovated and fully leased to long-term and high-income professional tenants. The 2006-2010 U Street parcel features a single-story triplex building and detached three-car garage on a 5,663 square foot parcel of land. The 2016 U Street parcel features a single-family residence featuring two bedrooms and two full bathrooms situated on a 6,098 square foot parcel of land. /// What makes this investment truly unique is the amount of excess land available to create upside by constructing additional units. With nearly 7,000 square feet of buildable land surrounding the existing structures, a new owner can add several additional units by right or, with slight adjustment to parcel boundaries, separately sell each parcel. Additionally, the C-2 zoning and 6.0 FAR allows up to 60,000+ SF of new multifamily residential development on the entire 11,761 SF parcel that extends from U Street to Uptown Alley, thus creating a unique covered land play'' in the best neighborhood in Midtown. /// The two properties, which must be purchased together, are offered at $1,497,500 which is $374,375 per residential unit or $127 per square foot for the underlying land. The in-place capitalization rate is 4.35% based on existing income and expenses....
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Home facts
- Year built:1952
- Listing ID #:226007648
- Added:114 day(s) ago
- Updated:May 17, 2026 at 02:41 PM
Rooms and interior
- Flooring:Simulated Wood, Tile Floor, Varies by Unit, Wood Floors
- Kitchen Description:Dishwasher, Free Standing Electric Oven, Ice Maker, Microwave
- Living area:3,090 sq. ft.
Heating and cooling
- Cooling:Ceiling Fan(s), Heat Pump
- Heating:Ductless, Heat Pump
Structure and exterior
- Roof:Shingle
- Year built:1952
- Building area:3,090 sq. ft.
- Lot area:0.27 Acres
- Lot Features:Garden, Secluded
- Construction Materials:Stucco, Wood
- Exterior Features:Varies by Unit
- Foundation Description:Concrete
- Levels:1 Story
Utilities
- Sewer:Public Sewer
Finances and disclosures
- Price:$1,497,500
- Price per sq. ft.:$484.63
Features and amenities
- Appliances:Dishwasher, Free Standing Electric Oven, Microwave
- Laundry features:In Each Unit
Parking
- Total parking spaces:4
- Garage spaces:3
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