5650 Broadway

Tahoe Park

5650 Broadway

Region: Oak Park/Tahoe Park/Med Center
Use: Multifamily / Land
Lot Size: .60 acres
Lease or Sale: Sale
Sale Price: $2,375,000

5650 Broadway is a 3-parcel “value-add” development opportunity located in the Tahoe Park neighborhood of Sacramento. The Property currently has 3 residential units, including a single-family residence situated on Broadway, and a single-story duplex located behind the single-family residence, all of which had extensive renovations performed in 2023 sparing no detail and addressing all “big ticket” items. The three existing units are currently rented and generating approximately $8,450 per month in gross rents. The Property also represents significant upside in the underutilized land over its three contiguous parcels. Existing architectural plans call for the construction of eight additional units including one duplex (2 units) and six accessory dwelling units (ADUs) measured at 599 square feet, coming in under the 600 square foot threshold for ADUs in order to streamline the development process and minimize development fees for the project.

The location of the Property compliments the 11 unit project very well, as the Property is less than a mile from existing UC Davis medical facilities and the state-of-the-art research and innovation center dubbed “Aggie Square”, which is currently under development and will feature a 680,000 square foot science, technology, and research space, a 50,000 square foot rehabilitation hospital, 120,000 square feet of classroom space, and 28,000 square feet of community space. The existing UC Davis medical center and Aggie Square development site will surely bring a mix of thousands of highly paid young professionals to the Property as top tier tenants. There’s no other project representing this potential in the Tahoe Park area, and it is perfectly timed for a new owner to take advantage of the City’s largest development site nearby.

You might also like: