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Listed by Steve Belluomini • Corcoran Icon Properties, DRE#01095848
$1,450,000
Est. payment /mo
5,850 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Five or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 5,850 sqft
Price per Sqft $247
MLS Listing ID ML82060020
Year Built 1938
Lot Size 0.650 Acres
Property Sub-Type Five or More Units
Property Description
121 Lincoln Rd W presents the opportunity to acquire an 11-unit multifamily investment property situated on an oversized 25000 +-square-foot parcel in Vallejo. The property is currently zoned for Residential Medium Density, while ownership has operated the property as an apartment building for approximately the past six years. Sellers are motivated . The property offers investors an attractive combination of strong existing cash flow and meaningful value-add potential. Current rents are approximately 25% below prevailing market levels, creating a clear path to increase revenue over time through continued rent adjustments and unit renovations. Eight of the eleven units have already received substantial interior improvements, reducing the amount of immediate renovation work required by a new owner. In addition, all tenants are currently on month-to-month leases, providing increased flexibility for future lease management and implementation of the property's remaining rental upside.
Location
State CA
County Solano
Area Vallejo 3
Zoning RMD
Interior
Heating Other
Cooling None
Exterior
Parking Features No Garage
Utilities Available Public Utilities
Roof Type Shingle
Building
Foundation Concrete Slab
Sewer Sewer Connected
Water Other
Others
Restrictions Other
Tax ID 0062-061-210
Security Features None
Special Listing Condition Not Applicable
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