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601 15th Street, Sacramento, CA 95814, Sacramento, 95814 - 5 bed, 4 bath

601 15th Street, Sacramento, CA 95814 home-pic-0
ACTIVE$1,895,000
601 15th Street, Sacramento, CA 95814
5Beds
4Baths
2,748Sqft
6,098Lot
Year Built
1920
Close
-
List price
$1.9M
Original List price
-
Price/Sqft
$690
HOA
$0
Days on market
-
Sold On
-
MLS number
225142602
Home ConditionExcellent
Features
Good View:
Patio
View-

About this home

We found 4 Cons,5 Pros. Rank: price - $1.90M(50th), sqft - 2748(50th), beds - 5(50th), baths - 4(50th).

We are pleased to present the opportunity to purchase 601-605 15th Street. This recently renovated two-story, 6,512 SF, mixed-use building is being offered for $1,895,000, reflective of a 7.8% capitalization rate based on a blended actual and proforma Net Operating Income of $147,635.61 creating a perfect opportunity for a restauranteur looking to make their first move into building ownership or an investor focused on mixed-use value-add investments. The approx. 3,764 SF ground floor restaurant space offers any potential users all the benefits of a well thought out second-generation spaces with kitchen complete with hood, sinks, floor drains and full bar buildout allowing flexible use as one contiguous space or leveraging the multiple street entrances and four separate restrooms for two distinct and separate concepts. Remodeled in 2020, the fully occupied four residential units offer tenants tasteful and timeless upgrades including LVP flooring, modern countertops, new dishwashers, cooktop and side-by-side refrigerators, washer/dryer hookups and modern frameless glass shower enclosures. Combined with the roughly 313 SF patio to make an inviting home for anyone looking for the Downtown/Midtown experience. Seller financing available.

Nearby schools

/10
Washington Elementary School
Public,•K-6•0.2mi
6/10
William Land Elementary School
Public,•K-6•1.2mi
7/10
Theodore Judah Elementary School
Public,•K-6•1.9mi
3/10
Woodlake Elementary School
Public,•K-6•2.2mi
3/10
Bannon Creek Elementary School
Public,•K-6•2.5mi
/10
Bryte Elementary School
Public,•K-2•2.9mi
5/10
Two Rivers Elementary School
Public,•K-5•3.2mi
7/10
Sutter Middle School
Public,•7-8•1.3mi
4/10
Elkhorn Village Elementary School
Public,•K-8•2.1mi
3/10
Riverbank Elementary School
Public,•K-8•2.7mi
3/10
Westmore Oaks Elementary School
Public,•K-8•2.9mi
3/10
Rio Tierra Junior High School
Public,•6-8•3.0mi
3/10
Natomas Middle School
Public,•6-8•6.3mi
5/10
C. K. Mcclatchy High School
Public,•9-12•2.4mi
3/10
Natomas High School
Public,•9-12•3.2mi
/10
Discovery High School
Public,•9-12•3.5mi
5/10
River City High School
Public,•9-12•3.9mi
4/10
Grant Union High School
Public,•9-12•4.6mi

Price History

Date
Event
Price
11/10/25
Price Change
$1,895,000
07/05/19
Sold
$1,225,000
08/17/01
Sold
$300,000
Condition Rating
Excellent
This mixed-use property underwent an extensive renovation in 2020, bringing its condition to an excellent standard. The residential units feature modern LVP flooring, contemporary countertops, new appliances (dishwasher, cooktop, side-by-side refrigerator), and stylish frameless glass shower enclosures. The commercial restaurant space is a well-equipped second-generation build-out with a complete kitchen (hood, sinks, floor drains) and a full bar, all appearing modern and functional in the provided images. Despite the 1920 build year, the recent and comprehensive renovation ensures all components are virtually new and meet current quality standards.
Pros & Cons

Pros

Mixed-Use Investment: The property offers diversified income streams from both commercial (restaurant) and fully occupied residential units, enhancing stability and reducing risk.
Recent Renovations: The building was recently renovated in 2020, with residential units featuring modern upgrades and the commercial space being a well-equipped second-generation build-out, minimizing immediate capital expenditure for a new owner.
Attractive Capitalization Rate: An appealing 7.8% capitalization rate, based on blended actual and proforma Net Operating Income, indicates a strong potential return on investment.
Versatile Commercial Space: The 3,764 SF ground floor restaurant space is highly adaptable with a full kitchen, bar buildout, multiple entrances, and restrooms, allowing for flexible use as one or two distinct concepts.
Seller Financing Available: The availability of seller financing offers a flexible acquisition option, potentially easing the financial burden and broadening the buyer pool.

Cons

MLS Listing Discrepancy: Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =6098, other record lot size in square feet = 6240.
Reliance on Proforma Income: The stated capitalization rate is based on a blended actual and proforma Net Operating Income, introducing a degree of risk if the projected income figures are not fully realized.
Age of Building: Constructed in 1920, the property, despite recent renovations, may still present ongoing maintenance challenges and require specialized upkeep typical of older structures.
Specialized Commercial Build-out: While versatile for restaurant use, the commercial space's specific build-out with kitchen and bar infrastructure might limit the pool of potential tenants if a non-restaurant concept is desired.

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