Santa Clara Apartments 1600-1720 Santa Clara St 30 Unit Apartment Building $7,187,655 CAD ($239,588 CAD/Unit) 6.61% Cap Rate Vallejo, CA 94590

The Santa Clara Apartments is an excellent 30 unit property comprised of three separate buildings on two APN's. The property features thirty (30) 1bd/1bth apartments each with significant rental upside in the non city rent controlled market of Vallejo. The buildings have undergone various upgrades including new paint, sidewalk, driveway, water heaters, new roofs, landscaping and more. There is on site, coin operated laundry, tenant and guest parking, tenant storage, and patios/balconies for each unit. Many units have unobstructed water views. The next investor can implement gradual rent increases, implement a RUBS program, and begin charging for miscellaneous add-ons to increase rental income. This is an incredibly rare opportunity to purchase a property which will produce significant cash flow and rental upside from day one of ownership.
The Santa Clara Apartments boast a prime location in the Vallejo Heights neighborhood. This property is walking distance to groceries, shopping, dining, multiple parks and much more. Additionally, the property is close to the Napa River and San Pablo Bay, offering residents stunning views of the water and a cooler climate. Other points of attractions are various Open Space parks, Six Flags Discovery Kingdom, Wine Country, Vallejo Aquarium, hiking trails, gardens and more.
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