Property Detail

Description

www.1901sonoma.com; 12-unit apartment complex with excellent current income offering a 8.41% current cap rate and a 8.4 current GRM. Seller financing is available with 30% down payment, 3.0% interest-only rate, a 5-year term, and no prepayment penalty. The unit mix offers one 3bd/1bth unit, one 2bd/1bth unit, nine 1bd/1bth units and one studio unit. The property was built in 1921, offers approximately 9,200 square feet of rental space, and sits on a combined lot size of 13,000 square feet. The sale also includes the vacant lot next door at 536 Capitol St which is currently being used for 15+ parking spaces and provides a future potential development opportunity. The units have been remodeled over time and feature upgraded kitchens, bathrooms, wood flooring, custom fixtures, and newer paint. The property is easy to manage, separately metered for gas and electric, with low annual operating expenses. This is an excellent Vallejo location only a few blocks to the restaurants and coffee shops in Downtown Vallejo and a short distance to Mare Island and the Vallejo Marina and the San Francisco Bay Ferry Terminal. Contact agent on website for more information.