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150 Florida St 4 Unit Apartment Building Offered at $899,900 at a 10.25% Cap Rate Vallejo, CA 94590
Investment Highlights
- Strong In-Place Yield with Upside (10.25% CAP + Value-Add)
- Irreplaceable Waterfront Location with Commuter Demand
- Heavy Capital Expenditure Risk Already Addressed
Executive Summary
Attention Investors!!! This marina and waterfront view fourplex delivers a strong 10.25 CAP rate with four spacious 2 bedroom 1 bath units, each offering approximately 860 square feet and large balconies overlooking the water and marina. Located just minutes from freeway access, the Yacht Club, and the Ferry Building, this property is ideal for Bay Area commuters and benefits from strong market rents, additional garage income, and on site coin operated laundry that produces consistent monthly cash flow. Major capital improvements include a new roof and gutters in 2022, updated plumbing, separate 2022 water heaters and utility lines for each unit, fully rebuilt and permitted balconies, updated patio doors, partial dual pane windows, and modernized interiors featuring laminate flooring, fresh interior paint, updated kitchens and bathrooms, and stainless steel appliances 2022 or newer. A detached rear parking garage provides one dedicated space per unit, while the included coin operated washer and dryer further boosts income. Mature fruit trees including nectarines, plums, figs, apricot and orange, along with no side neighbor and beautifully landscaped stairways, create a private and relaxing setting, making this a rare opportunity to acquire a waterfront fourplex with strong cash flow, completed capital upgrades, and long term upside.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$112,800
|
$32.79
|
| Other Income |
$20,400
|
$5.93
|
| Vacancy Loss |
$6,660
|
$1.94
|
| Effective Gross Income |
$126,540
|
$36.78
|
| Taxes |
$15,000
|
$4.36
|
| Operating Expenses |
$19,323
|
$5.62
|
| Total Expenses |
$34,323
|
$9.98
|
| Net Operating Income |
$92,217
|
$26.81
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $112,800 |
| Annual Per SF | $32.79 |
| Other Income | |
|---|---|
| Annual | $20,400 |
| Annual Per SF | $5.93 |
| Vacancy Loss | |
|---|---|
| Annual | $6,660 |
| Annual Per SF | $1.94 |
| Effective Gross Income | |
|---|---|
| Annual | $126,540 |
| Annual Per SF | $36.78 |
| Taxes | |
|---|---|
| Annual | $15,000 |
| Annual Per SF | $4.36 |
| Operating Expenses | |
|---|---|
| Annual | $19,323 |
| Annual Per SF | $5.62 |
| Total Expenses | |
|---|---|
| Annual | $34,323 |
| Annual Per SF | $9.98 |
| Net Operating Income | |
|---|---|
| Annual | $92,217 |
| Annual Per SF | $26.81 |
Property Facts
| Price | $899,900 | Property Type | |
| Price Per Unit | $224,975 | Building Size | 3,440 SF |
| Sale Type | Investment | No. Stories | 3 |
| Cap Rate | 10.25% | Year Built | 1984 |
| No. Units | 4 | Opportunity Zone |
Yes
|
| Price | $899,900 |
| Price Per Unit | $224,975 |
| Sale Type | Investment |
| Cap Rate | 10.25% |
| No. Units | 4 |
| Property Type | |
| Building Size | 3,440 SF |
| No. Stories | 3 |
| Year Built | 1984 |
| Opportunity Zone |
Yes |
Amenities
Unit Amenities
- Balcony
- Kitchen
- Tub/Shower
- Family Room
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | $2,350 | 727 |
1 1
Walk Score®
Very Walkable (71)
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Presented by
Rapisarda Real Estate
150 Florida St
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