51 Mendocino St - Three Brand New Houses with High Cash Flow! 3 Unit Apartment Building Offered at $1,495,000 at a 6.27% Cap Rate Vallejo, CA 94590

Three brand new houses built in 2024 with excellent cash flow and long-term upside! Each house offers 3 bedrooms and 2 bathrooms and 1,500 square feet of rental space with off-street parking and nice backyards. Each house offers remodeled kitchens and bathrooms, new electrical, new plumbing, new roofs, upgraded flooring, paint, lighting and more. Currently each house is rented for $3,300 per month, however one house can be delivered vacant at the close of escrow making a perfect set-up for an owner-occupant. The property is easy to manage and separately metered for PG&E providing for low annual operating expenses. The exterior and interior are in excellent condition with no deferred maintenance resulting in an attractive turn-key investment for the next owner. This is a very rare offering in Vallejo; perfect for both investors and owner-occupants. This is a high-demand rental location near numerous restaurants, shopping centers, and schools. Nearby is the Dead Fish restaurant, the Brewery and Distillery on Mare Island, the Ferry to San Francisco, Sausalito and Tiburon, and only 14 miles to the Napa wineries.
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