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$2,900,000
Est. payment /mo
0.45 Acres Lot
UPDATED:
Key Details
Property Type Vacant Land
Sub Type Residential Lot
Listing Status Active
Purchase Type For Sale
MLS Listing ID 225114761
HOA Y/N No
Lot Size 0.450 Acres
Acres 0.45
Property Sub-Type Residential Lot
Source MLS Metrolist
Property Description
Shovel-ready development project in Midtown Sacramento. High-quality urban infill site +/-.44 acres with fully approved entitlements for mixed-use multifamily development with two versions: 60 units in 5 story building and 31 units in 3 story building. Prominently situated on the NE corner of 16th & V Streets, providing high visibility identity signage for retail/commercial. A stone's throw from Ice Blocks, the site is a natural extension of the vibrant R Street Corridor - most sought-after submarket of Sacramento. 16th St. is the spine of the urban core connecting to premier retail, dining, nightlife in Midtown, & major employment centers in Downtown. Residents enjoy short bike ride to Golden1 Center, DOCO, Land Park, Midtown Farmers Market, Target, Safeway, and Sacramento's best amenities and entertainment. Site Plan & Design Review are fully approved to construct 57,950 sq ft 60-unit mixed-use building incl. 3 live-work units, 21 parking stalls, 50376 sq ft commercial/retail space. Mix of studios, 1-bed & 2-bed. Since entitlements approved, owner got approvals for 31-unit project to get higher parking ratio, higher rents, & value-engineering construction type. The result provides a buyer with flexibility, cost savings, and certainty to pull permits and break ground quickly!
Location
State CA
County Sacramento
Area 10818
Zoning C-2-SPD
Direction 16th Street and V Street
Exterior
Utilities Available Public
Water Access Desc Public
Topography Level
Road Frontage City Street
Building
Lot Description Corner
Sewer Public Sewer
Water Public
Schools
Elementary Schools Sacramento Unified
Middle Schools Sacramento Unified
High Schools Sacramento Unified
School District Sacramento
Others
Senior Community No
Tax ID 009-0154-023
Special Listing Condition None
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Listed by CBRE Inc.
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