Remodeled Fourplex Income
For Sale
$795,000
15692 Armstrong, Middletown, CA 95461
Four fully rented, remodeled units with in-unit laundry, covered carport parking, and shared yard access in Middletown.
Property Size3,320 SF
Days on Market147
Property Features for 15692 Armstrong
General Information
Standard status
Active
Size
3,320 SF
Property subtype
Commercial
Occupancy
100%
Additional Details
Business Included
Yes
Fenced Yard
Yes
Multifamily Units
4
Building Details
Building Size
3,320 SF
Year Built
1979
Units
4
Tenancy
Multi
Listed By:
Kaicie Mcmurray · License #01827412
(831) 687-9025
Source:
Elliman
Added: Jun 3
Changed: Oct 26
Last Checked: Oct 26 at 3:55PM
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 Kaicie Mcmurray
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Investment Insights
Based on property information with market context.
This fourplex at 15692 Armstrong was built in 1979 and offers four fully rented, beautifully remodeled units. Each unit features approximately 830 square feet of living space with two bedrooms, one bath, a spacious great room, and a well-appointed kitchen. Two of the units also include a decorative fireplace in the living room. Updates throughout the property include new flooring, fresh interior and exterior paint, and meticulously remodeled kitchens with center islands, new appliances, modern cabinetry, and updated finishes. Refreshed bathrooms provide a clean, contemporary feel.
Residents benefit from convenient onsite amenities, including access to a fenced side and back yard and covered carport parking. Indoor laundry facilities are available with multiple washers and dryers, supporting day-to-day ease for tenants. The property is located close to shopping and within proximity to the library and senior center in downtown Middletown.
For buyers seeking a turnkey residential income property, this fourplex presents a straightforward operating layout with consistent unit design and recent interior and exterior improvements. The combination of covered parking, fenced outdoor access, and on-site laundry supports tenant convenience while helping the property maintain a polished, move-in-ready condition.
Residents benefit from convenient onsite amenities, including access to a fenced side and back yard and covered carport parking. Indoor laundry facilities are available with multiple washers and dryers, supporting day-to-day ease for tenants. The property is located close to shopping and within proximity to the library and senior center in downtown Middletown.
For buyers seeking a turnkey residential income property, this fourplex presents a straightforward operating layout with consistent unit design and recent interior and exterior improvements. The combination of covered parking, fenced outdoor access, and on-site laundry supports tenant convenience while helping the property maintain a polished, move-in-ready condition.
Key Highlights
- Four fully rented units in Middletown built in 1979, each with about 830 SF
- Each unit offers 2 bedrooms, 1 bath, a spacious great room, and a kitchen
- Remodeled kitchens with center islands, new appliances, modern cabinetry, and updated finishes
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,669
Cap Rate
7.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,173,380
$1.2M
Cap Rate 7%
$838,129
$838.1K
Cap Rate 9%
$651,878
$651.9K
Market Conditions
NOI Build-Up for 3,320 SF
Gross rent
$89.6K $27.00/SF
− Vacancy
−$5.8K −$1.76/SF
EGI
$83.8K $25.25/SF
− OpEx
−$25.1K −$7.57/SF
NOI
$58.7K $17.67/SF
Area
Napa County, CA
Vacancy
6.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,173,380
Cap Rate 7%
$838,129
Cap Rate 9%
$651,878
Alternative Uses
Best Use
Multifamily LT 5
$838.1K
$733.4K – $977.8K
NOI $58,669 @ 7.0% cap · market cap 7.38%
Second Best
Apartment 5plus
$756.7K
$662.1K – $882.8K
NOI $52,970 @ 7.0% cap · market cap 6.66%
Theoretical Best
Specialty Retail
$6.70M
$5.86M – $7.82M
NOI $468,972 @ 7.0% cap · market cap 58.99%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
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Business Placement
Demographics for 95461, CA
2,689
Population
1,646
Households
1.6
Avg Household Size
48
Median Age
24%
College-Educated
84%
High-School Grad
123.3 sq mi
ZIP Area
22
Density / Sq Mi
$81,830
Median Household Income
$40,308
Median Earnings
$2,192
Median Rent
$385,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Four fully rented, remodeled units with in-unit laundry, covered carport parking, and shared yard access in Middletown.
Where is this quadplex located?
The property is located at 15692 Armstrong Middletown, CA.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Four fully rented units in Middletown built in 1979, each with about 830 SF; Each unit offers 2 bedrooms, 1 bath, a spacious great room, and a kitchen; Remodeled kitchens with center islands, new appliances, modern cabinetry, and updated finishes
