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$ 4,600,000
Est. payment /mo
Pending
1321 Santa Clara ST Vallejo, CA 94590
20,525 SqFt
UPDATED:
11/15/2024 07:09 AM
Key Details
Property Type Multi-Family
Sub Type 5 or More Units
Listing Status Pending
Purchase Type For Sale
Square Footage 20,525 sqft
Price per Sqft $224
MLS Listing ID 324021278
HOA Y/N No
Originating Board MLS Metrolist
Year Built 1972
Lot Size 0.915 Acres
Acres 0.9153
Property Description
35 units located at 1321 Santa Clara Street in Vallejo, commonly known as Pointe 38. The subject property consists of approximately 22,925 square feet and a unit mix of twenty-five (25) 1x1 units and ten (10) 2x1 units. The improvements were reportedly built in 1972. The going-in cap rate with 11 vacant units is 4.98%. Upon lease-up of the currently vacant units at $1,525 for the 1x1's and $1,700 for the 2x1's, the cap rate ascends to over 9%. Additionally, the vacant units are fully rehabbed and rent ready creating significant equity growth almost immediately after purchase and lease-up. The subject property as a whole has been renovated with new exterior paint, all new vinyl windows, new laundry machines and all new interiors. The Pointe 38 Apartments presents investors a unique equity growth opportunity with minimal capital outlay.
Location
State CA
County Solano
Area Vallejo 5
Direction tennessee to santa clara
Interior
Heating Other
Cooling Other
Laundry In Common Area
Exterior
Parking Features Other
Water Access Desc Other
Building
Lot Description Other
Story 2
Sewer Other
Water Other
Others
Senior Community No
Tax ID 0055-062-160
Special Listing Condition None
Listed by Gravitas Commercial Real Estate