337 Georgia StVallejo, CA 94590

This exceptional 10-unit apartment building at 337 Georgia St, Vallejo, CA 94590, presents a compelling investment opportunity. The property boasts 14,999 square feet on a 6,500 square foot lot and features a three-story building constructed in 1900, with significant renovations completed between 2003 (seismic retrofit) and 2023 (interior unit upgrades). Eight residential units and one commercial unit have undergone complete renovations, showcasing a blend of preserved Victorian charm and modern amenities. These updates include high ceilings, stainless steel appliances, new cabinetry and countertops, vinyl plank flooring, updated bathrooms, and modern lighting fixtures. Original Victorian details such as picture rail moldings, built-in cabinets, bay windows, and exposed brick walls remain, adding unique character. The current Net Operating Income (NOI) is $163,692, with a pro-forma NOI of $194,347, resulting in a current cap rate of 6.82% and a pro-forma cap rate of 8.10%. The asking price is $2,400,000, or $240,000 per unit. The property's prime downtown Vallejo location offers high walkability (Walk Score of 89), proximity to amenities, and easy access to transportation. Additional income potential exists through leasing the vacant retail and storage spaces. The APN is 0056-192-050. This stabilized investment offers a blend of historical character and modern upgrades in a thriving downtown location.