$2,995,000
416 Benicia Rd Vallejo, CA 94590
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$2,995,000
Est. payment /mo
9,583 Sqft Lot
New
416 Benicia Rd Vallejo, CA 94590
UPDATED:
11/07/2024 01:21 PM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 41077829
HOA Y/N No
Year Built 1937
Lot Size 9,583 Sqft
Property 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.
Location
State CA
County Solano
Interior
Heating See Remarks
Cooling See Remarks
Fireplace No
Exterior
Total Parking Spaces 16
Others
Tax ID 0059113300
Listed by David Howarth • The Pinza Group, Inc
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