Alhambra Blvd Redevelopment 324 Alhambra Boulevard

CBRE is pleased to present 324 Alhambra Boulevard — a generational full city block development site spanning 2.26 acres in the heart of East Sacramento, fully entitled for a 332-unit mixed-use multifamily development with 2,400 SF of ground-floor commercial and a 322-stall parking structure, with the potential for approximately 55 for-sale single-family townhomes. The site sits one block from McKinley Park, within walking distance of East Sac's best restaurants, Midtown retail, and two of Sacramento's major hospital systems — Sutter Health and Dignity Mercy Hospital. The approved project incorporates the historic brick facades of the former Mary Ann's Bakery along Alhambra Boulevard, D Street, and Chinatown Alley into the new building's design — a rare narrative that sets this development apart from conventional urban infill. For affordable housing developers, the site's designation as both a CTCAC High Resource Opportunity Area and a HUD Difficult Development Area positions it among the most competitive LIHTC sites available in California's capital region. For homebuilders, East Sacramento's supply-constrained resale market and affluent, ownership-oriented demographics make this one of the most compelling for-sale infill opportunities in urban Sacramento — a market where new residential projects are a genuine rarity.