121 Lincoln Rd W presents the opportunity to acquire an 11-unit multifamily investment property situated on an oversized 24,292-square-foot parcel in Vallejo. The property offers investors an attractive combination of strong existing cash flow and meaningful value-add potential. Eight of the eleven units have already received substantial interior improvements, reducing the amount of immediate renovation work required by a new owner. In addition, all tenants are currently on month-to-month leases, providing increased flexibility for future lease management and implementation of the property's remaining rental upside. Current rents are below prevailing market levels, creating a clear path to increase revenue over time through continued rent adjustments and unit renovations. The property is currently zoned for Residential Medium Density, while ownership has operated the property as an apartment building for approximately the past six years. CAPITAL IMPROVEMENTS & VALUE-ADD POTENTIAL Ownership has continued to reinvest in the property, with approximately $87,000 in improvements completed or underway during 2026 alone. Recent work has focused on unit renovations, structural improvements, exterior upgrades, and improvements to the property's laundry facilities. 2026 Capital Improvements Laundry Room Improvements – Approx. $5,000 New wall, flooring, and roof improvements; work is substantially complete. Unit 204 Full Renovation – Approx. $15,000 New flooring, kitchen improvements, and renovated shower. Unit 302 Full Renovation – Approx. $25,000 Comprehensive interior renovation including new flooring, kitchen improvements, and updated showers. 100 Building Foundation & Framing – Approx. $30,000 Structural foundation and framing work completed during 2026. Exterior Painting & Framing – Approx. $12,000 Exterior improvements addressing portions of the building's appearance and framing.