701 Plaza Avenue
Sacramento, CA, 95815
$
8,850,000
Baths0.0
Sq
40,100
Monthly Estimate*
$
54,491
Studio for $8,850,000. This 40,100 square foot home was built in 1959 on a lot size of 1.48.
The subject property consists of three buildings on a large parcel in the Noralto District of Old North Sacramento. These buildings were built in 1959 and are well-positioned as a midcentury urban infill apartment community serving Sacramento's stable workforce renter base. The unit mix includes: 3 Studio units, 55 One-Bedroom / One-Bathroom units, and 8 Two-Bedroom / One-Bathroom units. Each unit is individually metered for gas and electric and features wall heaters and wall-mounted air conditioning. Interior finishes vary by unit, reflecting updates completed over time. Flooring consists of tile, linoleum, and wood laminate. All units include refrigerators, gas stoves, and garbage disposals, along with Formica countertops and original cabinetry. Bathrooms are equipped with tub/shower combinations throughout. The property offers on-site and off-street parking, on-site laundry and an open courtyard layout, providing functional outdoor space and convenient tenant circulation. The property is in the Noralto District of Old North Sacramento, an established urban neighborhood conveniently positioned between Downtown Sacramento and Arden-Arcade. This area is characterized by midcentury housing stock and remains one of Sacramento's more affordable rental markets, making it attractive to renters seeking proximity to employment centers, retail, and entertainment. Nearby amenities include Grocery Outlet, King's Supermarket, and a wide selection of local and national restaurants, including McDonald's, Carl's Jr., Taco Bell, Little Caesars, and Popeyes. Market Square at Arden Fair Mall is approximately 2.2 miles (10 minutes) away, providing access to the broader Arden-Arcade retail corridor. Downtown Sacramento and the Golden 1 Center are located approximately 5.6 miles (12 minutes) from the property. A new investor will benefit from meaningful upside through the implementation of a RUBS (Ratio Utility Billing System), allowing for partial utility cost recovery. Additional value can be achieved by continuing interior upgrades during unit turnover.
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Features
General
Sewer
Public Sewer
Heating
Wall Furnace
Cooling
Window Unit(s)
Utilities
Sewer Connected & Paid
Electric
Unit 4 Rent
0
Unit 2 Rent
0
Unit 3 Rent
0
Unit 1 Rent
1300
HOA Fee
0
Garage Spaces
0.0
Construction Materials
See Remarks
Year Built
1959
Stories Count
2
Property Subtype
5 or More Units
Elevation
0
County
Sacramento
Property Type
Residential Income
HOA
N
Total Rooms
0
Close Price
0.0
Status
Active
Directions
Corner of Plaza Avenue and Oakmont Street in Sacramento CA
City
Sacramento
High School District
Sacramento Unified
Zoning Description
R
Open Parking Spaces
0.0
Number Of Units Total
66
MLS Area
10815
Lot Size Square Feet
64469.0
Carport Spaces
0.0
Standard Status
Active
Middle/Junior School District
Sacramento Unified
Elementary School District
Sacramento Unified
Year Built Source
Owner
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Interior
Flooring
Varies by Unit
Total Stories
2
Unit 1 Full Baths
1
Unit 2 Full Baths
0
Unit 3 Full Baths
0
Unit1Bedrooms
1
Unit3Bedrooms
0
Laundry Features
Washer/Dryer Owned
Unit 1 Bedroom Units Total
55
Unit 2 Bedroom Units Total
8
Unit 3 Bedroom Units Total
0
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Exterior
Parking Features
Varies by Unit
Lot Features
Other
Water Source
Meter on Site
Total Parking
66.0
Foundation Details
SeeRemarks
Number of Buildings
3
Lot Size Acres
1.48
Lot Size Source
Not Verified
Covered Spaces
0.0
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* Excluded Features
List By
Collier's International
Broker
matt.sarro@colliers.com
Email
Affordability Calculator
- Monthly Principal & Interest
- $54,491
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
Multi-family listings in Sacramento, CA
Average List Price
$1,063,538
Percent of Sale Price
88%
About Sacramento, CA
501,568
Population
23%
Since 2002
$
54,303
Median Income
35.68
Median Age
29%
Households with Children
Trends Information provided by ATTOM Data Solutions.
3193778
Elementary School
3193676
Middle School
Unknown High School
High School
Pricing History
| Date |
Price |
Price Change |
Description |
|
5/7/2026
|
$8,850,000
|
|
Listed Price
|