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Listed by David Howarth • The Pinza Group, Inc
$ 2,995,000
Est. payment /mo
Active
416 Benicia Rd Vallejo, CA 94590
11,805 SqFt
UPDATED:
11/07/2024 03:29 PM
Key Details
Property Type Commercial
Sub Type Garden Apts
Listing Status Active
Purchase Type For Sale
Square Footage 11,805 sqft
Price per Sqft $253
MLS Listing ID 41077829
HOA Y/N No
Originating Board Bridge AOR
Year Built 1937
Lot Size 9,582 Sqft
Property Description
www.416BeniciaRd.com; 16-unit apartment complex spread across two parcels with 8 units per parcel. The current cap rate is 6.98% and the current GRM is 9.29. The unit mix consists of 5 2bd/1bth units, 8 1bd/1bth units, and 3 studio units with strong current cash flow and excellent rental upside. Seller financing is being offered with excellent terms. The property was originally built in 1937, offers approximately 11,803 square feet of living space, and sits on a 9,582 square foot combined lot with off-street parking. Many units have been remodeled over time and offer new kitchen and bathrooms, new paint, new double pane windows, and more. The property is easy to manage, all the tenants are current on rent, and an onsite property manager is not legally required due to the property having only 8 units per parcel. The exterior and interior are in good condition with no deferred maintenance resulting in an attractive, turn-key investment.
Location
State CA
County Solano
Interior
Heating Other
Cooling Other
Flooring Other
Fireplace No
Building
Lot Description Other
Water Public
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