For Sale
$1,799,000

541-553 Admiral Callaghan LnVallejo, CA 94591

Six-unit apartment building, strong income.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional six-unit multifamily investment property, located at 541-553 Admiral Callaghan Lane in Vallejo, California, presents a compelling opportunity. The property, situated on two contiguous parcels totaling 12,918 square feet, comprises four two-bedroom, one-bathroom apartments and two two-bedroom, one-and-a-half-bathroom townhouses. All units are currently leased at near-market rates, generating a substantial net operating income (NOI) of $106,514 (with a pro-forma NOI of $108,725). The property boasts a 6,600 square foot building constructed in 1960, featuring a recently replaced roof (within the last ten years). Each unit includes in-unit laundry, private yards, and tankless water heaters. Select units have undergone recent upgrades, including new flooring, paint, bathrooms, and kitchens. Six on-site parking spaces provide ample accommodation for residents. The property's location offers convenient access to Interstate 80 and the amenities of downtown Vallejo. The asking price is $1,799,000, representing a compelling cap rate of 5.92% (pro-forma 6.04%) and a price per square foot of $272.58. The property is zoned for Residential Medium Density and offers a strong return on investment in a thriving rental market. This stabilized investment is priced below replacement cost, making it an attractive opportunity for discerning investors. The property's strong in-place income, combined with its desirable location and recent upgrades, makes it an ideal addition to any portfolio.

Highlights

  • Six-unit multifamily property in Vallejo, CA, offering excellent in-place income.
  • Located near I-80 and downtown Vallejo for convenient access.
  • Features four 2-bed/1-bath units and two 2-bed/1.5-bath units, all with in-unit laundry and private yards.
  • 6,600 sq ft building on two parcels totaling 12,918 sq ft, with a recently replaced roof and six on-site parking spaces.
  • Priced at $1,799,000, offering a 5.92% cap rate (pro-forma 6.04%) and $272.58 price per square foot.
  • Currently generating a $106,514 NOI ($108,725 pro-forma) and priced below replacement cost.

Property Details for 541-553 Admiral Callaghan Ln

Property type
Apartment buildings
Square Feet
6,600 SF
Year Built
1960
Buildings
1
Stories
2
Units
6

Location Insight

City
Vallejo
County
Solano
State
California
Latitude
38.1190822
Longitude
-122.2297804
541-553 Admiral Callaghan Ln, Vallejo, California

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541-553 Admiral Callaghan Ln
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