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$1,450,000
Est. payment /mo
0.65 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID ML82060020
HOA Y/N No
Year Built 1938
Annual Tax Amount $16,231
Lot Size 0.650 Acres
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 699 - Not Defined
Zoning RMD
Interior
Cooling None
Fireplace No
Exterior
Roof Type Shingle
Total Parking Spaces 18
Building
Water Other
Schools
School District Vallejo City Unified
Others
Tax ID 0062061210
Special Listing Condition Standard
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Listed by Steve Belluomini Corcoran Icon Properties #01095848
Nearby School & Business
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