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Listed by David Howarth • The Pinza Group, Inc
$ 1,595,000
Est. payment /mo
Active
121 Lincoln Rd Vallejo, CA 94590
4,550 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type 5 or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 4,550 sqft
Price per Sqft $350
Subdivision Vallejo Hills
MLS Listing ID 41126020
HOA Y/N No
Year Built 1938
Lot Size 0.558 Acres
Property Sub-Type 5 or More Units
Source Bridge AOR
Property Description
www.121Lincoln.com; 11-unit apartment complex offering excellent current income and solid long-term upside. The units mix offers three 2bd/2bth units, five 1bd/1bth units, and three studio units. The property was originally built in 1938, offers approximately 4,548 square feet of rental space, and sits on an oversized 24,292 square foot lot with ample room for parking and possible future development. Many of the units have been remodeled and offer updated kitchens and bathrooms, wood floors, new cabinets, new tile, new lighting, and fresh paint. The building is easy to manage, with very little maintenance, providing low annual operating expenses. Currently, the property is almost 100% occupied with stable tenants with rents approximately 25% below market providing predictable income and a profitable investment. This is a perfect opportunity for an investor to acquire a turn-key property in a rapidly improving neighborhood with excellent long-term potential.
Location
State CA
County Solano
Interior
Heating Other
Cooling Other
Flooring Other
Fireplace No
Building
Lot Description Other
Others
Special Listing Condition Standard
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