Lincoln Rd W Investment with 9.16% Cap Rate 121 Lincoln Rd W 11 Unit Apartment Building $1,650,000 ($150,000/Unit) 9.16% Cap Rate Vallejo, CA 94590

11-unit apartment complex offering excellent current income and solid long-term upside. The units mix offers three 2bd/2bth units, five 1bd/1bth units, and three studio units. The property was originally built in 1938, offers approximately 4,548 square feet of rental space, and sits on an oversized 24,292 square foot lot with ample room for parking and possible future development. Many of the units have been remodeled and offer updated kitchens and bathrooms, wood floors, new cabinets, new tile, new lighting, and fresh paint. The building is easy to manage, with very little maintenance, providing low annual operating expenses. Currently, the property is almost 100% occupied with stable tenants with rents approximately 25% below market providing predictable income and a profitable investment. This is a high demand rental location near a variety of shopping options, restaurants, parks, and schools. This is a convenient location with easy access to HWY80 and only a short distance to the downtown historic district and Mare Island. This is a perfect opportunity for an investor to acquire a turn-key property in a rapidly improving neighborhood with excellent long-term potential.
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