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Listed by Steve Belluomini • Corcoran Icon Properties • 650-578-0200
$ 1,450,000
Est. payment /mo
New
121 Lincoln Road Vallejo, CA 94590
5,850 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 5,850 sqft
Price per Sqft $247
MLS Listing ID ML82060020
HOA Y/N No
Year Built 1938
Lot Size 0.650 Acres
Property Sub-Type Other
Source Datashare MLSListings
Property Description
121 Lincoln Rd W presents the opportunity to acquire an 11-unit multifamily investment property situated on an oversized 25000 +-square-foot parcel in Vallejo. The property is currently zoned for Residential Medium Density, while ownership has operated the property as an apartment building for approximately the past six years. Sellers are motivated . The property offers investors an attractive combination of strong existing cash flow and meaningful value-add potential. Current rents are approximately 25% below prevailing market levels, creating a clear path to increase revenue over time through continued rent adjustments and unit renovations. Eight of the eleven units have already received substantial interior improvements, reducing the amount of immediate renovation work required by a new owner. In addition, all tenants are currently on month-to-month leases, providing increased flexibility for future lease management and implementation of the property's remaining rental upside.
Location
State CA
County Solano
Interior
Heating Other
Cooling None
Fireplace No
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