Vallejo Multifamily Investment
For Sale
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144 Hilborn St, Vallejo, CA 94590
14-unit apartment building in Vallejo Heights neighborhood.
Property Size8,760 SF
Price / SF$227.74
Days on Market149
Property Features for 144 Hilborn St
General Information
Standard status
Active
Size
8,760 SF
Class
B
Property subtype
Multifamily
Building Details
Year Built
1967
Buildings
1
Stories
2
Units
14
Listing Agency:
North Valley Real Estate Advisors
(415) 987-7544
Listed By:
Marc Guillon · License #CA 01839798
Source:
Crexi
Added: Mar 18
Changed: Aug 8
Last Checked: Aug 8 at 6:38AM
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 North Valley Real Estate Advisors
Investment Insights
Based on property information with market context.
Located at 144 Hilborn Street in Vallejo, California, this property features fourteen one-bedroom, one-bathroom apartment units. The building is in the Vallejo Heights neighborhood. The unit mix is comprised entirely of 1x1 units. The property is positioned near major employment centers, transportation corridors, and the Vallejo waterfront. It also offers elevated West-facing views of the Napa River. This 8,760 square foot multifamily asset is located in a supply-constrained Bay Area rental market. The property is positioned to attract steady tenant demand from renters seeking access to regional employment centers while maintaining more attainable housing costs. The property offers potential for future rental growth in one of the Bay Area’s accessible rental markets.
Key Highlights
- Located in the desirable Vallejo Heights neighborhood.
- Close proximity to major employment centers and transportation corridors.
- West‑facing views of the Napa River.**
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
$153,014
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
7.67%
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%
$3,060,280
$3.1M
Cap Rate 7%
$2,185,914
$2.2M
Cap Rate 9%
$1,700,156
$1.7M
Market Conditions
NOI Build-Up for 8,760 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
$292.2K $33.36/SF
− Vacancy
−$14.0K −$1.60/SF
EGI
$278.2K $31.76/SF
− OpEx
−$125.2K −$14.29/SF
NOI
$153.0K $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%
$3,060,280
Cap Rate 7%
$2,185,914
Cap Rate 9%
$1,700,156
Alternative Uses
Best Use
Apartment 5plus
$2.19M
$1.91M – $2.55M
NOI $153,014 @ 7.0% cap · market cap 7.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.26M
$3.73M – $4.97M
NOI $298,436 @ 7.0% cap · market cap 14.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
661
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 - 14-unit apartment building in Vallejo Heights neighborhood.
Where is this apartment building located?
The property is located at 144 Hilborn St Vallejo, CA.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Located in the desirable Vallejo Heights neighborhood.; Close proximity to major employment centers and transportation corridors.; West‑facing views of the Napa River.**
