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409 Carolina St 6 Unit Apartment Building Offered at $815,000 at a 6.50% Cap Rate Vallejo, CA 94590
Investment Highlights
- 6-unit complex with enclosed grassy campus and lots of upside.
- 90/100 Walking Score with good unit mix
- 2-4 blocks to downtown & SF Ferry.
Executive Summary
Promising, 6-unit complex with enclosed grassy campus and lots of upside. Just 2-4 blocks to downtown & SF Ferry. Garage possibilities as subdivided storage & laundry center. Yard at alley could be converted to off-street, parking revenue. This is a friendly apartment community sharing a community lawn space & with lots of upgrade potential.
+ Freshly painted exterior. Some units recently renovated
+ 2-blocks to Provisions - Vallejo’s fave restaurant
+ 2.5-blocks to Empress Theater
+ 3-blocks to Saturday Downtown Farmer’s Market
+ 4-blocks to SF Ferry
+ Key upgrades could improve revenue $1370-$1530/mo.
(1/1 renovation $600/mo., Garage storage units $300-360/mo., Laundry $120/mo., Cottage deck $150/mo., Off-alley assigned parking $200-300/mo. --=-- $1370-1530/mo.--$16k-18k/yr.)
+ Freshly painted exterior. Some units recently renovated
+ 2-blocks to Provisions - Vallejo’s fave restaurant
+ 2.5-blocks to Empress Theater
+ 3-blocks to Saturday Downtown Farmer’s Market
+ 4-blocks to SF Ferry
+ Key upgrades could improve revenue $1370-$1530/mo.
(1/1 renovation $600/mo., Garage storage units $300-360/mo., Laundry $120/mo., Cottage deck $150/mo., Off-alley assigned parking $200-300/mo. --=-- $1370-1530/mo.--$16k-18k/yr.)
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $815,000 | Property Type | Multifamily |
| Price Per Unit | $135,833 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Size | 3,406 SF |
| Cap Rate | 6.50% | No. Stories | 2 |
| Gross Rent Multiplier | 8.48 | Year Built/Renovated | 1920/2024 |
| No. Units | 6 | Opportunity Zone |
Yes
|
| Zoning | Improved Multi-Family - Improved Multi-Family | ||
| Price | $815,000 |
| Price Per Unit | $135,833 |
| Sale Type | Investment |
| Cap Rate | 6.50% |
| Gross Rent Multiplier | 8.48 |
| No. Units | 6 |
| Property Type | Multifamily |
| Apartment Style | Low-Rise |
| Building Size | 3,406 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1920/2024 |
| Opportunity Zone |
Yes |
| Zoning | Improved Multi-Family - Improved Multi-Family |
Amenities
Site Amenities
- Fenced Lot
- Picnic Area
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 1 | $2,150 | 1,200 |
| 2+2 | 1 | $1,500 | 800 |
| 1+1 | 2 | $1,125 | 550 |
| Studios | 2 | $1,075 | 425 - 440 |
1 1
Moderately walkable
60/100
Very drivable
80/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 0056-161-010 | Total Assessment | $801,108 |
| Land Assessment | $239,292 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $561,816 | Tax Year | 2026 |
Property Taxes
Parcel Number
0056-161-010
Land Assessment
$239,292
Improvements Assessment
$561,816
Total Assessment
$801,108
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
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409 Carolina St