501-523 Carpenter St - Apartments FOR SALE


Fairfield, CA 94533
$1,425,000 USD
415-625-2117
501-523 Carpenter St, Fairfield, CA for Sale
$1,425,000 USD
Apartments - FOR SALE
1/5
null | 6.83% Cap Rate

501-523 Carpenter St
Fairfield, CA 94533


HIGHLIGHTS

  • Low maintenance unit design with gas stoves, metal cabinets, luxury vinyl plank floors in kitchens and bathrooms, gas-wall heaters, wall-mount AC.
  • Pitched composite roofs, with attractive park like setting, on-site laundry, and parking to the side.
  • Situated six blocks north of the Solano County Courthouse, and County Services buildings providing nearby employment.
  • Separately metered for gas and electricity.

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. For sale individually or as part of a larger portfolio. The Marpel Apartments at 501 Carpenter Street, in Fairfield, CA consists of a sixteen unit apartment complex, located across from First Baptist Church, and a half-block from Armijo High School. The neighborhood is a mix of single family, multifamily, with various commercial parcels on a quiet tree lined street. The property is situated six-blocks north of the Solano County Courthouse, and County Services buildings. Constructed circa 1954 (per property records) the single-story buildings are of wood frame with stucco and wood siding, with pitched composite roofs, and are built on a spacious 0.64-acre parcel. The parcel is adjacent to a second sister, nearly identical parcel and shares a common driveway. The Marpel Apartments feature attractive mature lawn and tree landscaping, with covered parking to the south of the parcel. The unit mix consists of (13) 1Br/1-Bath apartments, of 500 square foot floorplans, and (3) 2bed/1bath apartments, of 533 square foot floorplans. Unit interiors feature carpeted dining room and bedrooms, luxury vinyl plank kitchen and bathroom flooring, gas stoves, metal cabinets, wall-mount air conditioners, and gas-wall heaters.

FOR SALE DETAILS

PRICE

$1,425,000 USD

PRICE/SF

$171 USD /SF

# OF UNITS

16

PRICE/UNIT

$89,063

CAP RATE

6.83%

% LEASED

81%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Marpel Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1954

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.63 AC

LAND SF

27,286 SF

ZONING

-

APN/PARCEL ID

0030-152-010

ASK ABOUT THIS PROPERTY

Jon HolmquistJon HolmquistMore Info
415-625-2117

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

Jon HolmquistJon HolmquistMore Info
415-625-2117

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