Vallejo 8-Unit Townhome
For Sale
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102-116 Avian Drive, Vallejo, CA 94591
Remodeled 8-unit townhome complex in East Vallejo.
Property Size8,208 SF
Price / SF$237.57
Days on Market142
Property Features for 102-116 Avian Drive
General Information
Standard status
Active
Size
8,208 SF
Property subtype
Multifamily
Building Details
Year Built
1968
Listing Agency:
Baniqued Commercial Real Estate
Listed By:
Brian Baniqued · License #CA
Source:
Crexi
Added: Mar 18
Changed: Jul 10
Last Checked: Aug 5 at 3:20PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Baniqued Commercial Real Estate
Investment Insights
Based on property information with market context.
Located at 102-116 Avian Drive in Vallejo, this 8-unit townhome-style apartment complex offers an investment opportunity. The units have been recently remodeled and feature updated kitchens with quartz countertops and stainless steel appliances. The apartments also include spacious living areas with private balconies that offer views, as well as in-unit laundry. The property is professionally managed and includes dedicated parking. Situated in East Vallejo, the property is near public transportation and the San Pablo Bay. The location provides access to both Sacramento and San Francisco. The East Vallejo neighborhood includes apartments, condos, and contemporary residential areas. The area provides a place for renters looking for an apartment just north of the San Francisco Bay. The property offers a potential income stream in a coastal California market. The building size is 8,208 square feet.
Key Highlights
- Remodeled units with modern kitchens featuring quartz countertops and stainless steel appliances, spacious living areas, and private balconies with views.
- Townhome‑style apartments with in‑unit laundry.
- Professionally managed property ensuring smooth operations.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$143,372
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.35%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,867,440
$2.9M
Cap Rate 7%
$2,048,171
$2.0M
Cap Rate 9%
$1,593,022
$1.6M
Market Conditions
NOI Build-Up for 8,208 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$273.8K $33.36/SF
− Vacancy
−$13.1K −$1.60/SF
EGI
$260.7K $31.76/SF
− OpEx
−$117.3K −$14.29/SF
NOI
$143.4K $17.47/SF
Area
Vallejo, CA
Vacancy
4.80%
Lease Rate
$33.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,867,440
Cap Rate 7%
$2,048,171
Cap Rate 9%
$1,593,022
Alternative Uses
Best Use
Apartment 5plus
$2.05M
$1.79M – $2.39M
NOI $143,372 @ 7.0% cap · market cap 7.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.99M
$3.50M – $4.66M
NOI $279,630 @ 7.0% cap · market cap 14.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
419
Businesses Nearby
Explore this area
Business Placement
Demographics for 94591, CA
56,305
Population
20,543
Households
2.7
Avg Household Size
42
Median Age
31%
College-Educated
89%
High-School Grad
21.1 sq mi
ZIP Area
2,668
Density / Sq Mi
$107,849
Median Household Income
$50,607
Median Earnings
$2,218
Median Rent
$602,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Remodeled 8-unit townhome complex in East Vallejo.
Where is this apartment building located?
The property is located at 102-116 Avian Drive Vallejo, CA.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Remodeled units with modern kitchens featuring quartz countertops and stainless steel appliances, spacious living areas, and private balconies with views.; Townhome‑style apartments with in‑unit laundry.; Professionally managed property ensuring smooth operations.
