2123 2nd St - Apartments FOR SALE


Napa, CA 94559- Central Napa
$1,550,000 USD
707-294-2944
2123 2nd St, Napa, CA for Sale
$1,550,000 USD
Apartments - FOR SALE
1/25
null | 4.38% Cap Rate

2123 2nd St
Napa, CA 94559
Central Napa


HIGHLIGHTS

  • Approximately $157,000 in Recent Improvements - Recent work includes roofing, dry-rot repairs, exterior painting, unit renovations, flooring, applianc
  • Central Napa Location - Convenient access to Downtown Napa, local services, retail amenities, public transportation, and regional roadway connections.
  • Fully Occupied Five-Unit Investment - Five one-bedroom residences provide diversified rental income and immediate operating continuity.
  • Measured Income-Growth Opportunity - Illustrative underwriting assumes a 10% rent increase for Units 1, 2, 4 and 5, while holding the recently leased
  • Six Off-Street Parking Spaces - Approximately 1.2 spaces per unit, with additional street parking available.

OVERVIEW

W Commercial is please to present 2123 2nd Street, an opportunity to acquire a fully occupied, five-unit residential income property in central Napa. The property comprises approximately 3,096 square feet across traditional one- and two-story buildings and features five one-bedroom residences supported by six off-street parking spaces. The property combines established occupancy with meaningful recent capital investment. Unit 3 underwent an extensive renovation and was recently leased at $1,795 per month, while Unit 5 has also received substantial interior and exterior improvements. The remaining residences have been maintained and are occupied by established tenants. Offered at $1,550,000, the property is priced at approximately $310,000 per unit. Illustrative underwriting assumes a 10% rent increase for Units 1, 2, 4 and 5, with Unit 3 maintained at its current rent, a 5% vacancy and collection-loss factor, and property taxes reassessed at the offering price. Under these assumptions, the property generates approximately $106,970 in annual gross rental income, $67,895 in forecast NOI, and a 4.38% forecast cap rate. The property’s manageable five-unit scale, full occupancy, recent improvements, on-site parking, and measured income-growth potential make it well suited for private investors, local multifamily owners, and 1031 exchange buyers seeking a long-term Napa investment. Its central Napa location provides convenient access to Downtown Napa, shopping, dining, public transportation, local services, and regional transportation routes.

FOR SALE DETAILS

PRICE

$1,550,000 USD

PRICE/SF

$507 USD /SF

# OF UNITS

5

PRICE/UNIT

$310,000

CAP RATE

4.38%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1898

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,019 SF

ZONING

RT-5

APN/PARCEL ID

002-171-002

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 Notice.