2423 L St, Sacramento, CA, 95816
About This Home
2423 L Street (8 Units) presents a rare opportunity to acquire a boutique multifamily asset in the heart of Midtown Sacramento, one of the regions most desirable and vibrant urban neighborhoods. The property consists of Six large Studio Apartments that have been tastefully remodeled and complemented by two newly constructed detached ADU units, each offering approximately 600 square feet with 2bedroom/1bathroom floor plans. The combination of existing rental income and brand-new construction creates an attractive investment opportunity with a diverse unit mix and a strong long term rental demand. The front building consists of six studio apartments that provide efficient and affordable housing in a highly sought-after rental market. Behind the main structure are two newly completed detached ADUs, each featuring modern 2-bedroom/1-bathroom floor plans, contemporary finishes, open-concept living spaces, and approximately 600 square feet of living area. These newly built units offer investors minimal deferred maintenance and command premium rental rates relative to traditional apartment inventory. Updates to the older structure include a brand new roof (2024), sewer lateral replacement (2026), electrical panel upgrades, all dry rot cleared, new paint job, brand new landscaping, two rebuilt fences and 4 of 6 remodeled interiors.
Getting Around
Walker's Paradise
Some Transit
Biker's ParadiseSchools
Construction
Condition
- Year built: 1900
Materials
- Foundation: Concrete
- Construction materials: Stucco,Vinyl Siding,See Remarks
Type & Style
- Home type: MultiFamily
- Property subType: 5 or More Units
Interior
Bedrooms & Bathrooms
- Bedrooms: 10
- Bathrooms: 1
- Full bathrooms: 1
Features
- Flooring: Laminate,Vinyl,Wood,Luxury Vinyl Plank,Varies
Heating & Cooling
- Heating features: Central,Varies by Unit
- Cooling features: Central Air,Varies by Unit
Interior Area
- Total structure area: 0
Property
Details
- Parcel number: 00701020170000
- Zoning: R-3A-SPD
- Special condition: Standard
Lot
- Lot size: 5,227 sqft
- Features: Private,Other
Parking
- Total spaces: 8
- Parking features: Off Street,Uncovered,Varies by Unit
- Has uncovered spaces: Yes
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Earthquake
How This Home’s Risks Compare
FEMA Declared Disasters in Sacramento County and California
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $9,860 | $118,320 |
| Home Insurance * | $419 | $5,028 |
| Property Taxes | $2,099 | $25,188 |
| Electricity | $398 | $4,786 |
| Total | $12,776 | $153,312 |
Income You'd Need if You Spent...
California FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-07-23 | Listed for sale | $1,950,000 |
| 2024-10-24 | Sold | $1,140,000 |
| 2021-05-27 | Listing removed | -- |
| 2021-05-24 | Listed for rent | $1,545 |
| 2021-03-09 | Listing removed | -- |
| 2019-03-20 | Listing removed | $1,350 |
| 2019-03-13 | Listed for rent | $1,350 |
| 2018-05-23 | Listing removed | $900,000 |
| 2018-05-10 | Listed for sale | $900,000 |
| 2018-04-24 | Pending sale | $900,000 |
| 2018-04-19 | Listed for sale | $900,000 |
| 1995-02-15 | Sold | $200,000 |
View on Zillow