The Corum Building – 42 Units + Retail

We are pleased to offer The Corum Building at 916-926 22nd Street, a value-add mixed-use property at the corner of 22nd and J Streets in Midtown Sacramento. Built in 1924, the three-story property has 42 residential units totaling 24,338 SF and two ground-floor retail spaces totaling 5,220 SF, for about 29,558 SF on a 13,068 SF parcel zoned C-2-SPD.

The property is priced at $7,100,000, a 6.82% blended cap rate on actual income, with an 8.20% cap rate at market. The unit mix is 25 studios, 17 one-bedroom units and one two-bedroom unit, averaging 579 SF. Residential occupancy is about 97%, and in-place rents are roughly 20% below comparable units, leaving room to raise rents with modest upgrades.

The two structures are linked by an outdoor stairwell and breezeway. Many units have newer LVP or refinished hardwood floors, updated cabinetry and lighting, and both roofs were replaced in the last five years. The property has shared laundry and 8 secure on-site parking stalls.

Otoro Sushi leases about 4,550 SF with roughly 85 feet of J Street storefront under a lease extended through March 2035, and a local nonprofit leases a 670 SF office. The J Street location offers strong visibility on a main arterial linking Downtown and East Sacramento.

Jon Lang and Ken Turton of Turton Commercial Real Estate represent this offering. Please contact us for additional information or to arrange a tour.