Price Reduced 12% now representing a 6.15% CAP and 11 GRM on current income and expense.
Guillon Real Estate Group is pleased to present the Parkview Apartments, located at 1217-1229 Sacramento Street in Vallejo. Located in the St. Vincent’s Hill Historic District, the subject property boasts 4,952 square feet of improvements and consists of four (4) 2x1 units measuring approximately 1,000 square feet and one (1) 1x1 unit measuring approximately 952 square feet. Buyer to verify square footages. The property includes one garage per unit, concrete foundation, wood framing, stucco exterior, and a secure entrance to the main building (two bedroom units). The one bedroom unit is a stand alone cottage detached
from the main building and overlooks City Park.
Unit amenities include large floor plans, stackable washer & dryer in each unit, one dedicated garage per unit with a remote clicker, gas stoves, front and rear entrances, period detailing throughout, hardwood flooring, and mail slots for each unit. Additionally, there is a SolTrans bus stop right outside the front door for tenants’ convenience.
The Parkview Apartments presents investors a tremendous opportunity to acquire a well maintained building in one of the hottest rental markets in the Nation. On current income and expenses, a new owner will benefit from a stable income stream representing a 6.15% CAP Rate and an 11.4 GRM. Upon unit turnovers, and very minimal turnover expenditure, market rents for the two bedrooms units should fetch minimum $1,750/month and $1,600/month for the one bedroom cottage. All of the current tenants are on month-to-month leases whereby a new owner can capture a 6.8% CAP Rate and 10.6 GRM within a short time frame of
closing escrow.
Contact Marc Guillon for the offering memo.
