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16-Units with Excellent Cash Flow 6.98% Cap 416-420 Benicia

16 Unit Apartment Building $2,995,000 ($187,188/Unit) 6.98% Cap Rate Vallejo, CA 94590

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Investment Highlights

16-Units Consisting of Five 2bd/1bth Units, Eight 1bd/1bth Units, and Three Studios
Seller Financing Available as Low as 4.25% Interest Rate, Interest-Only, 8-Year Term, with a 30% Down Payment
Two Separate Parcels with 8-Units Each - No On-site Manager Required

Remodeled Units With Strong Current Income, Excellent Rental Upside, and Low Annual Operating Expenses
Attractive Vallejo With Easy Access To HWY80 , Mare Island, And the Downtown Vallejo Historic District
Low Maintenance Property with Upgraded Systems, Newer Roof, and Double-Pane Windows

Executive Summary

16-unit apartment complex spread across two parcels with 8 units per parcel. The current cap rate is 6.98% and the current GRM is 9.29. The unit mix consists of 5 2bd/1bth units, 8 1bd/1bth units, and 3 studio units with strong current cash flow and excellent rental upside. Seller financing is being offered with excellent terms. The property was originally built in 1937, offers approximately 11,803 square feet of living space, and sits on a 9,582 square foot combined lot with off-street parking. Many units have been remodeled over time and offer new kitchen and bathrooms, new paint, new double pane windows, and more. The property is easy to manage, all the tenants are current on rent, and an onsite property manager is not legally required due to the property having only 8 units per parcel. The exterior and interior are in good condition with no deferred maintenance resulting in an attractive, turn-key investment.
****EMAIL DAVID@PINZAGROUP.COM FOR A COMPLETE MARKETING PACKAGE AND PRIVATE SHOWING.

Property Facts

Price	$2,995,000	Apartment Style	Low Rise
Price Per Unit	$187,188	Building Class	C
Sale Type	Investment	Lot Size	0.22 AC
Cap Rate	6.98%	Building Size	11,805 SF
Gross Rent Multiplier	9.29	No. Stories	2
No. Units	16	Year Built	1937
Property Type	Multifamily	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Property Subtype	Apartment

Price	$2,995,000
Price Per Unit	$187,188
Sale Type	Investment
Cap Rate	6.98%
Gross Rent Multiplier	9.29
No. Units	16
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low Rise
Building Class	C
Lot Size	0.22 AC
Building Size	11,805 SF
No. Stories	2
Year Built	1937
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.