Regency Townhouses 123 Kathy Ellen Dr 51 Unit Apartment Building $13,000,000 ($254,902/Unit) 5.61% Cap Rate Vallejo, CA 94591

123 Kathy Ellen Dr is a 51-unit townhome community located in Vallejo, California, offering a rare chance to acquire a sizable asset in a thriving area. Each unit has it's Parcel providing an excellent opportunity for an investor to sell each unit off individually. The property is situated on a 1.74-acre parcel with approximately 48,850 square feet of gross building area, and has maintained a strong occupancy rate of 94%, providing immediate cash flow.
The community offers a mix of one-bedroom, two-bedroom, and three bedroom floor plans. All units are individually parceled and feature upgraded in-unit amenities such as dishwashers, garbage disposals, hardwood-style flooring, recessed lighting, high-speed internet access, washer/dryer hookups, and private balconies. Residents enjoy on-site gated parking, additional storage, and a sparkling private pool.
The property is ideally located one block from River Park, offering waterfront views of the Napa River. The property benefits from proximity to major employers, transportation corridors (including Interstate 80 and Highway 37), and the rich cultural offerings of Vallejo, including Six Flags Discovery Kingdom and a historic waterfront downtown. Vallejo's growing economy and low vacancy levels, combined with the area's affordable housing relative to surrounding Bay Area cities, provide long-term stability and growth potential for investors. Investors have the option to continue operating the property as an income generating rental asset or explore the potential to sell individual units over time.