121 Lincoln Rd W - Apartments FOR SALE


Vallejo, CA 94590- South Vallejo
$1,650,000 USD
510-822-1331
121 Lincoln Rd W, Vallejo, CA for Sale
$1,650,000 USD
Apartments - FOR SALE
1/28
null | 9.16% Cap Rate

121 Lincoln Rd W
Vallejo, CA 94590
South Vallejo


HIGHLIGHTS

  • 11-Unit Investment Offering Three 2bd/2bth Units, Five 1bd/1bth Units, and Three Studios
  • Excellent Current Cash Flow and Huge Rental Upside
  • Huge 24,292 Square Foot Lot w/ Development Potential
  • Remodeled Units with New Kitchens, Bathrooms, Newer Flooring, Fresh Paint, Custom Title and New Lighting
  • Current Rents Roughly 25% Below Market Rates
  • High Rental Demand Location Near Restaurants and Shopping with Fast Access to HWY80

OVERVIEW

11-unit apartment complex offering excellent current income and solid long-term upside. The units mix offers three 2bd/2bth units, five 1bd/1bth units, and three studio units. The property was originally built in 1938, offers approximately 4,548 square feet of rental space, and sits on an oversized 24,292 square foot lot with ample room for parking and possible future development. Many of the units have been remodeled and offer updated kitchens and bathrooms, wood floors, new cabinets, new tile, new lighting, and fresh paint. The building is easy to manage, with very little maintenance, providing low annual operating expenses. Currently, the property is almost 100% occupied with stable tenants with rents approximately 25% below market providing predictable income and a profitable investment. This is a high demand rental location near a variety of shopping options, restaurants, parks, and schools. This is a convenient location with easy access to HWY80 and only a short distance to the downtown historic district and Mare Island. This is a perfect opportunity for an investor to acquire a turn-key property in a rapidly improving neighborhood with excellent long-term potential. ****EMAIL DAVID@PINZAGROUP.COM FOR A COMPLETE MARKETING PACKAGE AND PRIVATE SHOWING.

FOR SALE DETAILS

PRICE

$1,650,000 USD

PRICE/SF

$220 USD /SF

# OF UNITS

11

PRICE/UNIT

$150,000

CAP RATE

9.16%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Lincoln Rd W Investment with 9.16% Cap Rate

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1950

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.56 AC

LAND SF

24,306 SF

ZONING

R-3, Vallejo

APN/PARCEL ID

0062-061-210

ASK ABOUT THIS PROPERTY

David HowarthPinza GroupMore Info
510-822-1331

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David HowarthPinza GroupMore Info
510-822-1331

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.