416-420 Benicia - Apartments FOR SALE


Vallejo, CA 94590
$2,995,000 USD
510-822-1331
416-420 Benicia, Vallejo, CA for Sale
$2,995,000 USD
Apartments - FOR SALE
1/35
null | 6.98% Cap Rate

416-420 Benicia
Vallejo, CA 94590


HIGHLIGHTS

  • 16-Units Consisting of Five 2bd/1bth Units, Eight 1bd/1bth Units, and Three Studios
  • Remodeled Units With Strong Current Income, Excellent Rental Upside, and Low Annual Operating Expenses
  • Seller Financing Available as Low as 4.25% Interest Rate, Interest-Only, 8-Year Term, with a 30% Down Payment
  • Attractive Vallejo With Easy Access To HWY80 , Mare Island, And the Downtown Vallejo Historic District
  • Two Separate Parcels with 8-Units Each - No On-site Manager Required
  • Low Maintenance Property with Upgraded Systems, Newer Roof, and Double-Pane Windows

OVERVIEW

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. ****EMAIL DAVID@PINZAGROUP.COM FOR A COMPLETE MARKETING PACKAGE AND PRIVATE SHOWING.

FOR SALE DETAILS

PRICE

$2,995,000 USD

PRICE/SF

$254 USD /SF

# OF UNITS

16

PRICE/UNIT

$187,188

CAP RATE

6.98%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

16-Units with Excellent Cash Flow 6.98% Cap

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1937

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.22 AC

LAND SF

9,583 SF

ZONING

Vallejo

APN/PARCEL ID

0059-113-290,0059-113-300

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 Policy.