121 Lincoln Road, Vallejo, CA 94590
- $1,450,000
- List Price
- $1,450,000
- Status
- ACTIVE
- MLS#
- ML82060020
- Year Built
- 1938
- Lot Size
- 28,314
- Acres
- 0.65
- Days on Market
- 7
- Property Type
- Commercial
Property Description
121 Lincoln Rd W presents the opportunity to acquire an 11-unit multifamily investment property situated on an oversized 25000 +-square-foot parcel in Vallejo. The property is currently zoned for Residential Medium Density, while ownership has operated the property as an apartment building for approximately the past six years. Sellers are motivated . The property offers investors an attractive combination of strong existing cash flow and meaningful value-add potential. Current rents are approximately 25% below prevailing market levels, creating a clear path to increase revenue over time through continued rent adjustments and unit renovations. Eight of the eleven units have already received substantial interior improvements, reducing the amount of immediate renovation work required by a new owner. In addition, all tenants are currently on month-to-month leases, providing increased flexibility for future lease management and implementation of the property's remaining rental upside.
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Additional Information
- Taxes
- $16,231
- Cooling
- Yes
- Cooling Description
- None
- Roof
- Shingle
- Water
- Other
- School District
- Vallejo City Unified
- Attached Structure
- Detached
- Gross Scheduled Income
- $224,400
Listing courtesy of Listing Agent: Steve Belluomini (steve.b@corcoranicon.com) from Listing Office: Corcoran Icon Properties.
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.