1321 Santa Clara Street

Vallejo, CA 94590

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.

Listing courtesy of Gravitas Commercial Real Estate



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Information last updated 2024-05-02 02:50 AM PDT