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Sean Beattie

sean@brivio.com +1(415) 716-7190

$3,550,000

Est. payment - /mo

9,744 SqFt

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type 5 or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 9,744 sqft

Price per Sqft $364

MLS Listing ID 326078848

HOA Y/N No

Year Built 1968

Lot Size 0.489 Acres

Acres 0.489

Property Sub-Type 5 or More Units

Source BAREIS MLS

Property Description

Driftwood Apartments presents the opportunity to acquire a well-maintained 13-unit multifamily property in the desirable waterfront community of Benicia. The property consists of twelve two-bedroom, one-bath units and one standalone studio cottage, offering an attractive unit mix with a strong history of tenant performance and ongoing property improvements. Ownership has consistently reinvested in the property over the years, with units upgraded as they turn over and numerous improvements made to the buildings and site. Notable improvements include an engineered site drainage system, protective roof coatings on two buildings, and regular parking lot sealing and striping approximately every five to six years. The property also features mature landscaping and well-maintained common areas. Each building is equipped with a washer and dryer (owned) and a 75-gallon hot water heater. Additional property features include separately metered units, covered assigned parking, and a dedicated storage unit for each residence, providing conveniences that are attractive to tenants and help differentiate the property within the local rental market. Driftwood Apartments benefits from a stable existing tenant base, with all tenants currently paying on time and no outstanding collections or tenant balances owed. The combination of consistent ownership maintenance, upgraded units, covered parking, storage, mature landscaping, and a desirable Benicia location provides an investor with a well-positioned multifamily asset offering durable in-place income.

Location

State CA

County Solano

Area Benicia 3

Direction 780 to E 5th to East N

Rooms

Other Rooms Unit-1 Bedrooms: 2 Full Baths: 1 Occupancy: Tenant SqFt Source: Not Measured Unit-2 Bedrooms: 2 Full Baths: 1 Occupancy: Tenant SqFt Source: Not Measured

Basement None

Interior

Heating Wall Furnace

Cooling Other

Laundry Washer/Dryer Owned

Exterior

Parking Features Covered

Water Access Desc Other

Building

Lot Description Other

Story 2

Sewer Other

Water Other

Others

Senior Community No

Tax ID 0088-131-250

Special Listing Condition None

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Listed by North Valley Real Estate Advisors

Nearby School & Business

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Sean Beattie

+1(415) 716-7190

Broker Associate CA DRE# 01304100

510 East N ST Benicia, CA 94510

Sean Beattie

Key Details

Location

Rooms

Interior

Exterior

Building

Others

Nearby School & Business

Get More Information