Marc Guillon
Gravitas Commercial Real Estate
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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.
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Sewer: Other
Laundry Features: In Common Area
Heating: Other
Cooling: Other
Water Source: Other
Year Built: 1972
In Common Area
Lot Description: Other
Lot Square Feet: 39,870
Stories: 2
Property Type: ResidentialIncome
Sub Type: 5 or More Units
Property Age: 52
Cross Street: tennessee
Source Neighborhood: Vallejo 5
Postal Code Plus 4: 4355
Area: Vallejo S: 94590
Structure Type: Apartments
Listing Id: 324021278
List Price: $4,600,000
Parcel Number: 0055-062-160
Other
Association YN : No
Calculated Total Monthly Association Fees : $0
Direction: tennessee to santa clara
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
201 Sandy Beach Road, Vallejo, CA,94590 | $1,695,000 | -- | -- | -- | 148104 Sqft |
1535 Broadway Street, Vallejo, CA,94590 | $1,500,000 | -- | -- | -- | 53143 Sqft |
1535 Broadway, Vallejo, CA,94590 | $1,500,000 | 6 | -- | 3,000 | 53143 Sqft |
Hichborn Street, Vallejo, CA,94590 | $434,988 | 2 | 2 | 1,044 | -- |
Wilson Avenue, Vallejo, CA,94590 | $459,900 | 3 | 1 | 1,188 | -- |
Alameda Street, Vallejo, CA,94590 | $550,000 | -- | -- | -- | -- |
121 Bella Vista Way, Vallejo, CA,94590 | $699,000 | 4 | 2 | 2,660 | 7405 Sqft |
25 Burnham St, Vallejo, CA,94590 | $150,000 | -- | -- | -- | 5000 Sqft |
529 Hichborn Street, Vallejo, CA,94590 | $188,000 | -- | -- | -- | 7500 Sqft |
503 Daniels Ave, Vallejo, CA,94590 | $420,000 | 4 | 2 | 1,702 | 1566 Sqft |
ByOwner last updated this listing 05/30/2024 @ 05:58
MLS: 324021278
LISTED BY: Marc Guillon, Gravitas Commercial Real Estate
SOURCE: MLS Metrolist
Buyer Agency Compensation: 2%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.