The Corum Building

Value-Add
916-926 22nd Street, Sacramento, CA
Midtown
Use Multifamily / Retail /
Lease or Sale Sale,
Building Size ±29,558 SF
Sale Price $7,100,000

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The Corum Building is a value-add mixed-use project in Sacramento, California featuring 42 residential units and two ground floor retail tenants across 29,558 square feet. The property features 25 studio units, 17 one bedroom and one-bathroom units, and 1 two-bedroom and one-bathroom unit between two separate structures. The residential units have been updated to varying degrees over the years and many include newer LVP flooring or refinished hardwood, updated cabinetry and lighting, and new interior paint. The studio units feature unique and spacious layouts with separated kitchens, large closets, built in storage, and large windows with ample natural light. The ground floor is leased to two retail tenants including O-Toro Midtown, an established sushi restaurant with a long track record of success at the property. O-Toro leases 4,550 square feet with a lease term through March 2035. The remainder of the retail space, measuring 670 square feet, is leased to a local non-profit through August 2026. The Corum Building is being offered at $7,100,0000 which equates to a 5.99% blended capitalization rate based upon actual income and expenses with reassessed property taxes. The proforma capitalization rate is 8.14% assuming the below market rents are increased over time.

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