453 Fleming Ave E - Apartments FOR SALE


Vallejo, CA 94591- East Vallejo
$4,725,000 USD
415-625-2117
453 Fleming Ave E, Vallejo, CA for Sale
$4,725,000 USD
Apartments - FOR SALE
1/9
null | 6.65% Cap Rate

453 Fleming Ave E
Vallejo, CA 94591
East Vallejo


HIGHLIGHTS

  • Located just 7-minutes from the Vallejo Ferry Terminal with direct service to San Francisco providing a convenient commute.
  • Currently 100% occupy with a history of strong tenant demand.
  • Superior floorplans with great light.
  • Covered parking, with large balconies or patios.
  • Strong corner location with attractive landscaping and curb appeal & detached on-site laundry / maintenance / office building.
  • Separately metered for PG&E, with utility bill-back program in place.

OVERVIEW

Part of larger ten property portfolio sale that is subject to Court Approval. Non Disclosure Agreement Required prior to review of Offering Memorandum and financial information. Properties for sale individually or as entire portfolio. The Sharis Apartments at 453-415 East Fleming Avenue, Vallejo, CA are a well-kept, clean apartment complex in an ideal location, with great access to nearby employment centers. The property is minutes to the San Francisco Bay and Napa Marsh and is perched atop a hillside just seven minutes from the Vallejo Ferry Terminal. Built circa 1975, (per county records) the two-story complex consists of three main buildings around a large courtyard, with a fourth building housing an office, maintenance, and laundry facility. This offering boasts large patios and balconies and is well designed with a manicured central grass courtyard and covered car parking to the side and rear of the spacious 0.58-acre parcel. The property is located near to Highway 80 & Highway 37, allowing convenient tenant access to Marin, Napa, Sacramento, and San Francisco for those who commute by car to major nearby job centers. A relaxing alterative to driving is provided by an easy commute via. ferry to downtown San Francisco. The complex unit mix consists of (20) 1Br/1-Bath and (12) Br/1-Bath apartments, with a sliding door to either a balcony or patio. Unit interiors feature carpeted dining room and bedrooms, luxury vinyl plank kitchen and bathroom flooring, electric stoves, garbage disposals, ceiling fans, and gas-wall heaters. Each unit is separately metered for PG&E, with utility bill-back to tenants in place, thus ensuring predictable steady operations for the new buyer with minimal expenses.

FOR SALE DETAILS

PRICE

$4,725,000 USD

PRICE/SF

$212 USD /SF

# OF UNITS

32

PRICE/UNIT

$147,656

CAP RATE

6.65%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sharis

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1975

PARKING SPACES

70

LAND DETAILS

LAND ACRES

0.58 AC

LAND SF

25,080 SF

ZONING

HDR, Vallejo

APN/PARCEL ID

0069-222-010,0069-222-020

ASK ABOUT THIS PROPERTY

Jon HolmquistJon HolmquistMore Info
415-625-2117

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Jon HolmquistJon HolmquistMore Info
415-625-2117

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