1516 3rd St - Apartments FOR SALE


Napa, CA 94559- Central Napa
$1,975,000 USD
707-294-2944
1516 3rd St, Napa, CA for Sale
$1,975,000 USD
Apartments - FOR SALE
1/5
null | Request Cap Rate

1516 3rd St
Napa, CA 94559
Central Napa


OVERVIEW

Discover a unique investment opportunity with The Lovejoy Mansion, a Stick Eastlake Victorian built between 1885–1887 and later converted into an 8-unit multi-family property in the mid-20th century. This building combines classic architectural character with updated systems, offering both historic charm and practical functionality in the heart of Napa Valley. Property Highlights: • Modern Systems: Comprehensive 1985 renovation included all-new plumbing, ABS drain lines, full rewiring for electric, phone, and cable, and new gas service—all separately metered for each unit. • Independent Utilities: Each unit boasts its own gas-fired wall furnace and gas water heater, ensuring individual tenant control and efficient management. • Fully Leased: Solid tenant base, including some long-term residents, offering immediate cash flow. • Outdoor Space: Shared rear patio area perfect for tenant relaxation. Whether you're seeking a stable income-producing asset or looking to add a landmark property to your portfolio, The Lovejoy Mansion represents a rare opportunity to own a slice of Napa’s heritage in an unbeatable location. Inquire today to schedule a private showing of this exceptional investment property.

FOR SALE DETAILS

PRICE

$1,975,000 USD

PRICE/SF

$329 USD /SF

# OF UNITS

8

PRICE/UNIT

$246,875

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1885

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,615 SF

ZONING

-

APN/PARCEL ID

003-202-008

ASK ABOUT THIS PROPERTY

Michael HolcombW Real EstateMore Info
707-294-2944

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Michael HolcombW Real EstateMore Info
707-294-2944

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