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150 Drouin Drive
Rio Vista, CA 94571 ·

28 Units · Multifamily For Sale

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Rio Vista Apartments

Price N/A Cap Rate 8.75%
No. Units 28 Gross Rent Multiplier 5.61
Building Size 21,672 SF Occupancy 92%
Property Type Multifamily No. Stories 1
Property Sub-type Garden/Low-Rise Year Built 1963
Property Use Type Investment Lot Size 66,282 SF
Commission Split 2.5%
Listing ID: 17145212 Date Created: 05/04/2011 Last Updated: 11/06/2011

Description

The Rio Vista Apartments is a well maintained 28 unit apartment complex located the Solano County city of Rio Vista. The property, built in 1963 is comprised of four separate parcels totaling 66,282 sq.ft. and five separate buildings. The unit mix consists of 9 1 bedroom / 1 bath and 19 2 bedroom / 1 bath units. The units are separately metered for gas and electricity with individual water heaters in each unit. Finishes and fixtures are standard for units of this vintage, however some updating has been done, including new flooring and appliances. All units have dishwashers, garbage disposals and ceiling fans in the dinette area of the kitchen. The property common areas include a large grass area with play structure, as well as a swimming pool for the tenants enjoyment. In addition, there are two on-site laundry rooms in the complex. On-site uncovered parking is available with space for around 34 cars.

Rio Vista, also known as The Gateway to the Delta , is located along Highway 12 in the heart of the California Delta on the Sacramento River. The city of around 8,200 residents offers an inviting mix of rural and suburban lifestyles and easy access to all of the urban amenities associated with San Francisco and Sacramento. Proximity from the Rio Vista Apartments to the City of Fairfield and highways 80 is around 22 miles, while travel to highway 5 is around 15 miles. Travel to the major urban centers of East Contra Costa County, including the cities of Antioch, Pittsburg and Brentwood is around 16 miles. The property is located only a few blocks from the main commercial district on Main St in Rio Vista.

Highlights

  • Stable Investment - Currently 92% Occupied
  • Excellent Cash on Cash Return in Excess of 11%
  • $55,000 Per Unit & $71.06 Per Sq.Ft.
  • Units Separately Metered For Gas & Electricity
  • Rent Upside

Research

150 Drouin Drive, Rio Vista, CA 94571 (Solano County)

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