Vallejo Multifamily Investment
For Sale
$1,595,000
121 Lincoln Rd, Vallejo, CA 94590
Eleven-unit apartment complex with income potential in a growing neighborhood.
Property Size4,548 SF
Lot Size0.56 Acres
Price / SF$350.70
Days on Market104
Property Features for 121 Lincoln Rd
General Information
Standard status
Active
Size
4,548 SF
Lot size
0.56 Acres
Property subtype
Investment
Building Details
Year Built
1938
Listing Agency:
The Pinza Group Inc
(510) 822-1331
Listed By:
David Howarth · License #01360348
(510) 822-1331
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Jul 17 at 5:01AM
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 The Pinza Group Inc
Investment Insights
Based on property information with market context.
This 11-unit apartment complex presents an investment opportunity with current income and long-term potential. Constructed in 1938, the property includes three 2-bedroom/2-bathroom units, five 1-bedroom/1-bathroom units, and three studio units. The building provides approximately 4,548 square feet of rental space and is situated on a 24,292 square foot lot, offering parking space and potential for future development. Many units have been remodeled with updated kitchens and bathrooms, wood floors, new cabinets, new tile, new lighting, and fresh paint. The property is designed for ease of management, requiring minimal maintenance and resulting in low annual operating expenses. The property is almost fully occupied with stable tenants. Rents are approximately 25% below market value. Located in a rapidly improving neighborhood, this property offers long-term potential.
Key Highlights
- Almost 100% occupied with stable tenants, providing predictable income.
- Rents are approximately 25% below market, offering significant upside potential.
- Low‑maintenance building with low annual operating expenses.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $151.7k | $33.36 |
| − Vacancy | −$7.3k | −$1.60 |
| EGI | $144.4k | $31.76 |
| − OpEx | −$65.0k | −$14.29 |
| NOI | $79.4k | $17.47 |
4,548 SF · lease $33.36/SF/yr · vacancy 4.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.13M
$993.0K – $1.32M
NOI $79,441 @ 7.0% cap · market cap 4.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.21M
$1.94M – $2.58M
NOI $154,941 @ 7.0% cap · market cap 9.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
303
Businesses Nearby
Explore this area
Business Placement
Demographics for 94590, CA
39,981
Population
16,500
Households
2.4
Avg Household Size
38
Median Age
26%
College-Educated
87%
High-School Grad
6.6 sq mi
ZIP Area
6,058
Density / Sq Mi
$66,957
Median Household Income
$43,383
Median Earnings
$1,768
Median Rent
$510,700
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 - Eleven-unit apartment complex with income potential in a growing neighborhood.
Where is this apartment building located?
The property is located at 121 Lincoln Rd Vallejo, CA.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: Almost 100% occupied with stable tenants, providing predictable income.; Rents are approximately 25% below market, offering significant upside potential.; Low‑maintenance building with low annual operating expenses.
