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308 Florida St 2 Unit Apartment Building Offered at $599,000 at a 5.53% Cap Rate Vallejo, CA 94590
Investment Highlights
- High In-Place Income with Low Maintenance
- (2) Large 2 Bed / 1 Bath Units w/ Laundry Hookups
- Prime Vallejo Location just 3 minutes (0.7 miles) from the Ferry Building
- Tenants Pay PG&E
- New Water Heater & Furnaces
Executive Summary
Property Description
Introducing a prime investment opportunity in Vallejo, CA - a
meticulously maintained 1,776 SF multifamily property with two
spacious 2 bed/1 bath units. With a strong rental history and 100%
occupancy, this property offers high in-place income, along with
tenants responsible for PG&E. Featuring laundry hookups in both
units, new water heaters and furnaces, and a roof in good condition,
this property provides investors with minimal maintenance costs.
Boasting a sought-after location just 3 minutes from the Ferry Building,
this low-rise gem presents an enticing opportunity for the savvy
investor seeking a turnkey income generator in a thriving market.
Location Description
Located in the vibrant city of Vallejo, CA, the area surrounding the
property offers a wealth of attractions and amenities. Just minutes
away, residents can enjoy the Vallejo Ferry Building, providing easy
access to San Francisco and its numerous job opportunities and
entertainment options. The Vallejo Waterfront Park is also within close
reach, offering a picturesque escape with walking paths and scenic
views. Nearby dining options include popular local eateries such as
The Sardine Can and Front Room at the Wharf, ensuring a diverse
culinary scene for residents to explore. With its convenient proximity
to these attractions and more, this location presents an enticing
opportunity for multifamily investors seeking a dynamic and attractive
rental market.
Introducing a prime investment opportunity in Vallejo, CA - a
meticulously maintained 1,776 SF multifamily property with two
spacious 2 bed/1 bath units. With a strong rental history and 100%
occupancy, this property offers high in-place income, along with
tenants responsible for PG&E. Featuring laundry hookups in both
units, new water heaters and furnaces, and a roof in good condition,
this property provides investors with minimal maintenance costs.
Boasting a sought-after location just 3 minutes from the Ferry Building,
this low-rise gem presents an enticing opportunity for the savvy
investor seeking a turnkey income generator in a thriving market.
Location Description
Located in the vibrant city of Vallejo, CA, the area surrounding the
property offers a wealth of attractions and amenities. Just minutes
away, residents can enjoy the Vallejo Ferry Building, providing easy
access to San Francisco and its numerous job opportunities and
entertainment options. The Vallejo Waterfront Park is also within close
reach, offering a picturesque escape with walking paths and scenic
views. Nearby dining options include popular local eateries such as
The Sardine Can and Front Room at the Wharf, ensuring a diverse
culinary scene for residents to explore. With its convenient proximity
to these attractions and more, this location presents an enticing
opportunity for multifamily investors seeking a dynamic and attractive
rental market.
Property Facts
| Price | $599,000 | Apartment Style | Low-Rise |
| Price Per Unit | $299,500 | Lot Size | 0.15 AC |
| Sale Type | Investment | Building Size | 1,776 SF |
| Cap Rate | 5.53% | Average Occupancy | 100% |
| Gross Rent Multiplier | 12.64 | No. Stories | 1 |
| No. Units | 2 | Year Built | 1983 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Price | $599,000 |
| Price Per Unit | $299,500 |
| Sale Type | Investment |
| Cap Rate | 5.53% |
| Gross Rent Multiplier | 12.64 |
| No. Units | 2 |
| Property Type | Multifamily |
| Apartment Style | Low-Rise |
| Lot Size | 0.15 AC |
| Building Size | 1,776 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1983 |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 2 | $1,975 | 888 |
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
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308 Florida St
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