Renovated Duplex with Covered
For Sale
$550,000
235 12th Street, Vallejo, CA 94590
Two one-bedroom residences feature updated interiors, private laundry, ductless HVAC, and a detached covered garage.
Property Size2,653 SF
Days on Market14
Property Features for 235 12th Street
General Information
Standard status
Active
Size
2,653 SF
Total Parking Spaces
1
Property subtype
Duplex
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Amenities
in-unit washer and dryer
Building Details
Building Size
2,653 SF
Year Renovated
2025
Buildings
1
Listing Agency:
Corcoran Icon Properties
Listed By:
Stella Guinto
(415) 552-9500
Source:
Bonniespindler
Added: Sep 4
Changed: Sep 15
Last Checked: Sep 16 at 11:01PM
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 Corcoran Icon Properties
Investment Insights
Based on property information with market context.
This renovated duplex contains two separate one-bedroom, one-bath units measuring approximately 791 square feet and 735 square feet. Both residences include in-unit washers and dryers, laminate flooring in living areas, carpeted bedrooms, updated lighting, window blinds, and refreshed interior and exterior paint. Each unit has its own independently controlled ductless mini-split HVAC system.
The property also includes a detached, covered one-car garage. A new porch and railing were constructed to current code. The roof was replaced in October 2025 under City of Vallejo permit BP25-01383, which covers both the low-slope and high-slope roof sections. Located at 235 12th Street in Vallejo, the building offers a documented renovation scope across its major systems and surfaces.
The property also includes a detached, covered one-car garage. A new porch and railing were constructed to current code. The roof was replaced in October 2025 under City of Vallejo permit BP25-01383, which covers both the low-slope and high-slope roof sections. Located at 235 12th Street in Vallejo, the building offers a documented renovation scope across its major systems and surfaces.
Key Highlights
- Two‑unit duplex with one bedroom and one bathroom in each residence
- Unit sizes of approximately 791 square feet and 735 square feet
- In‑unit washer and dryer provided in both units
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
$46,341
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
8.43%
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%
$926,820
$926.8K
Cap Rate 7%
$662,014
$662.0K
Cap Rate 9%
$514,900
$514.9K
Market Conditions
NOI Build-Up for 2,653 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
$88.5K $33.36/SF
− Vacancy
−$4.2K −$1.60/SF
EGI
$84.3K $31.76/SF
− OpEx
−$37.9K −$14.29/SF
NOI
$46.3K $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%
$926,820
Cap Rate 7%
$662,014
Cap Rate 9%
$514,900
Alternative Uses
Best Use
Multifamily LT 5
$737.1K
$645.0K – $859.9K
NOI $51,596 @ 7.0% cap · market cap 9.38%
Second Best
Apartment 5plus
$662.0K
$579.3K – $772.4K
NOI $46,341 @ 7.0% cap · market cap 8.43%
Theoretical Best
Office A
$1.29M
$1.13M – $1.51M
NOI $90,382 @ 7.0% cap · market cap 16.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,051
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
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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?
Duplex - Two one-bedroom residences feature updated interiors, private laundry, ductless HVAC, and a detached covered garage.
Where is this duplex located?
The property is located at 235 12th Street Vallejo, CA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Two‑unit duplex with one bedroom and one bathroom in each residence; Unit sizes of approximately 791 square feet and 735 square feet; In‑unit washer and dryer provided in both units
