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33229675
33230017

308 Florida Street, Vallejo, CA 94590 For Sale

MM
CA 02156109
NAI Northern California - HQ
EB
CA 01868467
NAI Northern California - HQ
Listed by NAI Northern California - HQ
$599,000
47 days on market
Updated 37 days ago
Opportunity zone

308 Florida Street

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 1,776
Units 2
Beds 2
Cap Rate 5.53%
NOI $33,107
Occupancy 100%
Tenancy Multi
Pro-Forma Cap Rate 6.80%
Pro-Forma NOI $40,751
Price per SqFt $337
Class C
Year Built 1983
Lot Size (SqFt) 6,500
Investment Type Stabilized

High Income Duplex in Heart of Vallejo w/ Minimal Maintenance

Marketing description

Introducing a prime investment opportunity in Vallejo, CA - a meticulously maintained 1,776 SF multifamily property with two spacious 2 bed/1 bath units. With a strong rental history and 100% occupancy, this property offers high in-place income, along with tenants responsible for PG&E. Featuring laundry hookups in both units, new water heaters and furnaces, and a roof in good condition, this property provides investors with minimal maintenance costs. Boasting a sought-after location just 3 minutes from the Ferry Building, this low-rise gem presents an enticing opportunity for the savvy investor seeking a turnkey income generator in a thriving market.

Located in the vibrant city of Vallejo, CA, the area surrounding the property offers a wealth of attractions and amenities. Just minutes away, residents can enjoy the Vallejo Ferry Building, providing easy access to San Francisco and its numerous job opportunities and entertainment options. The Vallejo Waterfront Park is also within close reach, offering a picturesque escape with walking paths and scenic views. Nearby dining options include popular local eateries such as The Sardine Can and Front Room at the Wharf, ensuring a diverse culinary scene for residents to explore. With its convenient proximity to these attractions and more, this location presents an enticing opportunity for multifamily investors seeking a dynamic and attractive rental market.

Investment highlights

  • High In-Place Income
  • Tenants Pay PG&E
  • Minimal Maintenance Costs
  • (2) Large 2 Bed / 1 Bath Units
  • Laundry Hookups In Both Units
  • New Water Heater & Furnaces
  • Roof & Overall Property In Good Condition
  • Prime Vallejo Location just 3 minutes (0.7 miles) from the Ferry Building

Listing Contacts

MM
CA 02156109
NAI Northern California - HQ
EB
CA 01868467
NAI Northern California - HQ
Listed by NAI Northern California - HQ

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$33,107.00
$2,758.92/mo

Valuation Metrics

0
DSCR
5.53%
Cap Rate
5.53%
ROI

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