Entro @ Midtown

1325 18th St, Sacramento, CA – 24 units

Acquired in April 2014 and sold in August 2016

In April of 2014, we acquired 1325 18th St., a 25-unit apartment building in the Midtown neighborhood of Sacramento. While the building was falling apart, we saw an opportunity to re-build it from the ground up and cater to professional tenants. Midtown is the only urban walkable neighborhood of Sacramento, situated right next to the downtown office buildings and the California State Capitol. Young professionals in Midtown can walk the tree-lined streets and frequent the hottest restaurants, bars and shopping in Sacramento.

We gave the exterior of the property a facelift and took the interior to the studs. The completed apartments feature open floor plans with hardwood floors, modern kitchens, in-unit washers and dryers and central heat and air conditioning. We achieved rents of more than double what the previous owner was getting and well above our pro forma on acquisition.

We closed on the sale of the building in August of 2016 and were written up in the Sacramento Business Journal for achieving record pricing.