Six-Unit Apartment
New
For Sale
$749,900
827 Pennsylvania Street, Vallejo, CA 94590
Tenant-occupied apartment property with in-unit laundry and separately metered electric and gas service.
Property Size3,846 SF
Lot Size0.15 Acres
Price / SF$194.98
Days on Market5
Property Features for 827 Pennsylvania Street
General Information
Standard status
Active
Size
3,846 SF
Lot size
0.15 Acres
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA, 3 x 1BR/1BA, 1 x studio
Multifamily Units
6
Additional Details
Cap Rate
7.1%
Amenities
in-unit laundry
Building Details
Year Built
1912
Listing Agency:
Kimberly Maffia, Coldwell Banker Realty
Listed By:
The Jamison Team · License #327646
(408) 465-4899
Source:
Tuscanaproperties
Added: Sep 9
Changed: Sep 12
Last Checked: Sep 13 at 8:31AM
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 Kimberly Maffia, Coldwell Banker Realty
Investment Insights
Based on property information with market context.
Built in 1912, this 3,846-square-foot apartment property contains six units on a 6,500-square-foot lot. The layout includes two 2-bedroom/1-bath apartments, three 1-bedroom/1-bath apartments, and a studio currently used for storage. The five apartments are tenant-occupied, while the studio provides additional owner-use or rental-conversion flexibility.
Residents have in-unit laundry, and each unit is served by separate electric and gas meters. The property includes a single garage assigned to one unit, along with off-street and street parking. An alley runs behind the property at 827 Pennsylvania Street in Vallejo. The property carries a 7.10 cap rate.
Residents have in-unit laundry, and each unit is served by separate electric and gas meters. The property includes a single garage assigned to one unit, along with off-street and street parking. An alley runs behind the property at 827 Pennsylvania Street in Vallejo. The property carries a 7.10 cap rate.
Key Highlights
- Six‑unit apartment property built in 1912
- 3,846 SF building on a 6,500 sq. ft. lot
- Unit mix includes two 2‑bedroom/1‑bath, three 1‑bedroom/1‑bath, and one studio
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
$67,179
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
8.96%
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%
$1,343,580
$1.3M
Cap Rate 7%
$959,700
$959.7K
Cap Rate 9%
$746,433
$746.4K
Market Conditions
NOI Build-Up for 3,846 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
$128.3K $33.36/SF
− Vacancy
−$6.2K −$1.60/SF
EGI
$122.1K $31.76/SF
− OpEx
−$55.0K −$14.29/SF
NOI
$67.2K $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%
$1,343,580
Cap Rate 7%
$959,700
Cap Rate 9%
$746,433
Alternative Uses
Best Use
Apartment 5plus
$959.7K
$839.7K – $1.12M
NOI $67,179 @ 7.0% cap · market cap 8.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.87M
$1.64M – $2.18M
NOI $131,026 @ 7.0% cap · market cap 17.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,463
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Tenant-occupied apartment property with in-unit laundry and separately metered electric and gas service.
Where is this apartment building located?
The property is located at 827 Pennsylvania Street Vallejo, CA.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: Six‑unit apartment property built in 1912; 3,846 SF building on a 6,500 sq. ft. lot; Unit mix includes two 2‑bedroom/1‑bath, three 1‑bedroom/1‑bath, and one studio
