926 22nd Street, Sacramento, CA 95816
- $7,100,000
- 29,558
- SqFt
- List Price
- $7,100,000
- MLS#
- 226089012
- Status
- ACTIVE
- Living Sq. Ft
- 29,558
- Type
- Single Family Residential
- Zip
- 95816
- City
- Sacramento
Property Description
The Corum Building is a value-add mixed-use building that is being offered for sale for the first time in 32 years. Enjoying a high visibility location at the corner of 22nd Street and J Street, a main arterial road that connects Downtown to East Sacramento, the Corum is a 3-story midrise featuring 42 residential units and two ground floor retail tenants across 29,558 total square feet. The property is comprised to two separate structures that are connected by an outdoor stairwell and breezeway. 926 22nd Street, which is located at the corner of 22nd and J Street, is a brick-clad building that includes the anchor ground floor retail space and 25 studio units on the second and third floors. The second structure, 916 22nd Street, which is located at the corner of 22nd Street and Improv Alley, features 17 total units including 16 one-bed units and 1 two-bed unit. All 42 units have been upgraded to varying degrees over the years but most include newer LVP flooring, cabinetry, and lighting together with updated original architectural features. Capital improvements within the last 10 years includes new roofs on both structures and new electric panels at 926 22nd. The ground floor of the property is leased to two retail/office tenants including O-Toro Midtown, an established sushi restaurant with a long track record of success at the property. O-Toro leases 4,500 SF at the corner of 22nd and J St. and recently extended its triple-net lease through March 2035. The other retail space, measuring 670 SF along 22nd Street, is leased to a local non-profit through August 2026; it is possible this retail space could be converted to a 43rd residential unit. The Corum is being offered at $7,100,000 which equates to a 5.99% blended capitalization rate based on actual income and proforma expenses. Given the existing rents are about 20% below market, there is potential upside to a 8%+ annual return. The property is squarely in the heart of Midtown, just two blocks from the MARRS Building and Midtown Farmers Market, and walking distance to dozens of best-in-class amenities, parks, and the American River Bike Trail. This is a true generational investment and a rare opportunity to purchase a iconic building in Midtown.
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Additional Information
- Land Area (Acres)
- 0.30000000000000004
- Year Built
- 1924
- Subtype
- 5 or More Units
- Subtype Description
- Apartments, Flats
- Style
- Unknown
- Construction
- Brick, Stucco, Wood
- Foundation
- Raised, Slab
- Stories
- 3
- Carport Spaces
- 8
- Garage
- Covered, Street
- Floor Coverings
- Carpet, Vinyl, Wood
- Laundry Description
- Coin Operated, In Common Area
- Kitchen Appliances
- Dishwasher, Varies By Unit, Free Standing Electric Range
- Cooling
- Central, Wall Unit(s), Varies by Unit
- Heat
- Central, Wall Furnace, Varies by Unit
- Water
- Public
- Utilities
- Sewer Connected, Electric, Natural Gas Connected
- Sewer
- Public Sewer
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Listing courtesy of Ken Turton, Broker.
All measurements and all calculations of area (i.e., Sq Ft and Acreage) are approximate. Broker has represented to MetroList that Broker has a valid listing signed by seller authorizing placement in the MLS. Above information is provided by Seller and/or other sources and has not been verified by Broker. Copyright 2026 MetroList Services, Inc. The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of MetroList® MLS. All information has been provided by seller/other sources and has not been verified by broker. All interested persons should independently verify the accuracy of all information. Last updated .