2009 N Street
2009 N Street
$1,625,000
4
2
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—
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Closed 6/30/22
Description
Very unique, single-tenant NNN investment opportunity in the heart of Midtown! Property is comprised of two structures on the same parcel: i) a 3,700 SF, three-story duplex located off N Street; and ii) a 2,200 SF repurposed shipping container restaurant located off Matsui Alley. Entire property, including both residential units and the shipping container restaurant, is master-leased to Federalist Public House, a popular restaurant/bar that has occupied the property since 2014. Lease is triple net,...Very unique, single-tenant NNN investment opportunity in the heart of Midtown! Property is comprised of two structures on the same parcel: i) a 3,700 SF, three-story duplex located off N Street; and ii) a 2,200 SF repurposed shipping container restaurant located off Matsui Alley. Entire property, including both residential units and the shipping container restaurant, is master-leased to Federalist Public House, a popular restaurant/bar that has occupied the property since 2014. Lease is triple net, with the Tenant paying for ALL operating expenses and maintenance/repair to the property (except for the duplex roof). New five-year lease with large annual increases signed in Q4 2020. Current monthly rent is $8,000/NNN, which equates to a 5.6% capitalization rate on actual income. Rent increases to $8,750/NNN in year 3, $9,250/NNN in year 4, and $9,750/NNN in year 5. Seller recently completed approx. $100k in section 1&2 pest work. You will not find this return anywhere in the urban core!
- Listed by Jon Lang • DRE #01934934 • Ken Turton, Broker
Property Details for 2009 N Street
Parking Features
Street
Frontage TypeVaries by Unit
Architectural StyleCraftsman
ZoningC-2-SPD
View DescriptionOther
Location
LISTING UPDATED: 06/30/2022 11:00 AM
Property Details for 2009 N Street
Status | Closed |
---|---|
MLS # | 222003056 |
Days on Compass | 95 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income / Other |
Year Built | 1907 |
Lot Size | 0.15 AC / 6,534 SF |
County | Sacramento County |
Location
Building Information for 2009 N Street
Stories3Residences3Year Built1907Building Size-Lot Size0.15 AC / 6,534 SF
Payment Calculator
$10,568 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 2009 N Street
Property History for 2009 N Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 2009 N Street
Taxable ValueLand$566,100Additions$1,091,400Total$1,657,500
Tax Record2023$20,395 ($1,700 / month)
Home Facts
Baths3Total Finished SqFt2,240 SqFtAbove Grade Finished SqFt2,240 SqFtStories1Lot Size6,534 SqFtStyleRestaurantYear Built2014ZoningC-2-SPDCountySACRAMENTOAPN007-0146-011-0000
Schools near 2009 N Street
This home is within Sacramento City Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 6 | |||
Public - | 7 to 8 | |||
Public - | 9 to 12 | |||
Charter - | K to 4 |
Rating | School | Distance |
---|---|---|
Theodore Judah Elementary School PublicK to 6 | ||
Miwok Middle Public7 to 8 | ||
C. K. Mcclatchy High School Public9 to 12 | ||
Growth Public CharterK to 4 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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