416 Benicia Rd
Vallejo, CA 94590
0.22 acres | #41077829
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.
Property Details
- Acres0.22
Construction Details
- Property TypeMulti-Family
Condition
- Year Built1937
Community and Neighborhood Details
- CountySolano
Financial Details
- Original List Price$2,995,000
Other
- MLS #41077829
Location
Legal
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Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: David Howarth (#BMLS-R01360348)
Listing Office: The Pinza Group, Inc (#BMLS-OBPINZA)
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