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Opportunity Zone Investor Scoops Up 16th Street Site In Sacramento

Source: Sacramento Business Journal

One of the largest remaining undeveloped parcels in the central city has a new owner, who’s already looking at plans to change its situation.

Granite Bay-based Ashria Holdings LLC bought the .45-acre parcel at 2131 16th St. in Sacramento last month for $1.8 million, and is exploring a possible multifamily project there, according to a broker on the deal.

“This part of 16th Street is kind of a sleeper,” said Patrick Stelmach, a senior director at Turton Commercial Real Estate. With more investments and destinations planned nearby, he said, “It’s like, ‘what’s within walking distance?'”

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