6-Unit Apartment
For Sale
$799,000
409 Carolina St, Vallejo, CA 94590
Shared outdoor grounds serve residents within an improved multifamily residential zoning designation.
Property Size3,406 SF
Price / SF$234.59
Days on Market50
Property Features for 409 Carolina St
General Information
Standard status
Active
Size
3,406 SF
Property subtype
Residential Income
Listing Agency:
RE/MAX Gold
(707) 745-1151
Listed By:
Kevin Reilly · License #1371289
2648869
Source:
Exprealty
Added: Aug 28
Changed: Oct 6
Last Checked: Oct 15 at 1:03AM
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 RE/MAX Gold
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Investment Insights
Based on property information with market context.
Built in 1920, this six-unit apartment property includes an enclosed grassy campus with shared lawn space for residents. The property is zoned Improved Multi-Family Residential and includes garage areas identified for possible storage and laundry use.
The property is located 2-4 blocks from downtown and the SF Ferry. An alley-accessed yard is also identified as a possible location for off-street parking, subject to applicable approvals and site feasibility.
The property is located 2-4 blocks from downtown and the SF Ferry. An alley-accessed yard is also identified as a possible location for off-street parking, subject to applicable approvals and site feasibility.
Key Highlights
- Six‑unit apartment property built in 1920
- Enclosed grassy campus with shared community lawn
- Improved Multi‑Family Residential zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,494
Cap Rate
7.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,189,880
$1.2M
Cap Rate 7%
$849,914
$849.9K
Cap Rate 9%
$661,044
$661.0K
Market Conditions
NOI Build-Up for 3,406 SF
Gross rent
$113.6K $33.36/SF
− Vacancy
−$5.5K −$1.60/SF
EGI
$108.2K $31.76/SF
− OpEx
−$48.7K −$14.29/SF
NOI
$59.5K $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 Rate 5%
$1,189,880
Cap Rate 7%
$849,914
Cap Rate 9%
$661,044
Alternative Uses
Best Use
Apartment 5plus
$849.9K
$743.7K – $991.6K
NOI $59,494 @ 7.0% cap · market cap 7.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.66M
$1.45M – $1.93M
NOI $116,036 @ 7.0% cap · market cap 14.52%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,672
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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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 - Shared outdoor grounds serve residents within an improved multifamily residential zoning designation.
Where is this apartment building located?
The property is located at 409 Carolina St Vallejo, CA.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Six‑unit apartment property built in 1920; Enclosed grassy campus with shared community lawn; Improved Multi‑Family Residential zoning
