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804 Springs Vallejo, CA 94590
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Key Details
Sold Price $930,000
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
Square Footage 3,472 sqft
Price per Sqft $267
MLS Listing ID 41071164
Sold Date 10/18/24
Bedrooms 12
HOA Y/N No
Year Built 1967
Lot Size 6,509 Sqft
Acres 0.15
Property Description
To access marketing package copy/paste: https://bit.ly/kitehillre. Discover a prime investment opportunity in Old City Vallejo with this exceptional apartment building, offering four spacious 3-bedroom, 1-bath units. With a total of 3,472 square feet of living space on a generous 6,509 square foot lot, this property generates a strong rental income of $8,084 monthly and $97,008 annually, ensuring a steady and reliable cash flow. The impressive financial metrics, including a Gross Rent Multiplier (GRM) of 10.26 and a cap rate of 6.03%, highlight its potential for a solid return on investment. Located in the historic and vibrant Old City Vallejo, this property benefits from proximity to essential amenities and transportation. Tenants enjoy easy access to public transit, major highways, and ferry services to San Francisco, making it an attractive option for a diverse tenant base. The neighborhood's ongoing revitalization efforts, including downtown and waterfront projects, further enhance the property’s value and appeal. Investing in this apartment building not only secures a stable income but also positions investors to capitalize on the area's growth and development, minimizing vacancy risks and ensuring consistent rental demand.
Location
State CA
County Solano
Area Listing
Rooms
Basement None
Interior
Interior Features Storage
Heating Natural Gas
Cooling No Air Conditioning
Flooring Carpet, Wood
Fireplace No
Laundry In Unit
Exterior
Exterior Feature No Yard
Utilities Available Individual Electric Meter, Individual Gas Meter
Parking Type None
Building
Lot Description Regular, Paved
New Construction No
Others
Tax ID 0057122020
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Bought with JonathanGuevarra