Five-Unit Apartment
For Sale
Contact for pricing
2123 SECOND ST, Napa, CA 94559
Fully occupied residential income property with one-bedroom units, recent improvements, and on-site parking.
Property Size3,096 SF
Price / SF$500.65
Days on Market65
Property Features for 2123 SECOND ST
General Information
Standard status
Active
Size
3,096 SF
Class
C
Total Parking Spaces
6
Property subtype
Multifamily
Zoning
RT-5
Occupancy
100%
Investment Type
Value Add
Net Operating Income
$70,402
Units
Unit Mix
5 x 1BR
Multifamily Units
5
Additional Details
Asking Price
$1,550,000
Public Transit
Yes
Building Details
Year Built
1898
Year Renovated
2025
Buildings
4
Units
5
Tenancy
Multi
Listing Agency:
W Real Estate
Listed By:
Nicholas Davino · License #02319959
Source:
Crexi
Added: Aug 13
Changed: Oct 5
Last Checked: Oct 14 at 9:35PM
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 W Real Estate
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Investment Insights
Based on property information with market context.
This five-unit apartment property includes approximately 3,096 square feet across traditional one- and two-story buildings. Each residence is configured as a one-bedroom unit, and the property includes six off-street parking spaces. All units are occupied, with Unit 3 recently renovated and Unit 5 benefiting from substantial interior and exterior improvements. The remaining residences have been maintained and are occupied by established tenants.
Located at 2123 Second Street in central Napa, the property offers access to Downtown Napa, shopping, dining, public transportation, local services, and regional transportation routes. The property is zoned RT-5 and was built in 1898, providing a five-unit multifamily configuration with recent capital improvements and established occupancy.
Located at 2123 Second Street in central Napa, the property offers access to Downtown Napa, shopping, dining, public transportation, local services, and regional transportation routes. The property is zoned RT-5 and was built in 1898, providing a five-unit multifamily configuration with recent capital improvements and established occupancy.
Key Highlights
- Five one‑bedroom residences with full occupancy
- Approximately 3,096 square feet across one- and two‑story buildings
- Six off‑street parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,396
Cap Rate
3.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$987,920
$987.9K
Cap Rate 7%
$705,657
$705.7K
Cap Rate 9%
$548,844
$548.8K
Market Conditions
NOI Build-Up for 3,096 SF
Gross rent
$94.7K $30.60/SF
− Vacancy
−$4.9K −$1.59/SF
EGI
$89.8K $29.01/SF
− OpEx
−$40.4K −$13.05/SF
NOI
$49.4K $15.95/SF
Area
Napa County, CA
Vacancy
5.20%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$987,920
Cap Rate 7%
$705,657
Cap Rate 9%
$548,844
Alternative Uses
Best Use
Apartment 5plus
$705.7K
$617.5K – $823.3K
NOI $49,396 @ 7.0% cap · market cap 3.19%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.25M
$5.47M – $7.29M
NOI $437,331 @ 7.0% cap · market cap 28.21%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
2,371
Businesses Nearby
Explore this area
Business Placement
Demographics for 94559, CA
28,137
Population
11,599
Households
2.4
Avg Household Size
40
Median Age
37%
College-Educated
84%
High-School Grad
41.4 sq mi
ZIP Area
680
Density / Sq Mi
$100,559
Median Household Income
$52,247
Median Earnings
$2,044
Median Rent
$877,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied residential income property with one-bedroom units, recent improvements, and on-site parking.
Where is this apartment building located?
The property is located at 2123 SECOND ST Napa, CA.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Five one‑bedroom residences with full occupancy; Approximately 3,096 square feet across one- and two‑story buildings; Six off‑street parking spaces
