Renovated Six-Unit Apartment
For Sale
Contact for pricing
541-545 Admiral Callaghan Ln, Vallejo, CA 94591
Updated interiors include quartz countertops, newer appliances, and refreshed bathrooms.
Property Size6,600 SF
Price / SF$242.42
Days on Market8
Property Features for 541-545 Admiral Callaghan Ln
General Information
Standard status
Active
Size
6,600 SF
Class
B
Total Parking Spaces
9
Property subtype
Multifamily
Occupancy
66%
Net Operating Income
$122,669
Financials
Asking Price
$1,600,000
Cap Rate
7.61%
Units
Unit Mix
4 x 1,000 SF 2BR/1BA, 2 x 1,300 SF 2BR/1.5BA
Multifamily Units
6
Building Details
Year Built
1960
Year Renovated
2025
Buildings
2
Units
6
Tenancy
Multi
Listing Agency:
The Corcoran Group
(650) 339-6818
Listed By:
Rachna Gandhi · License #0204779
Source:
Crexi
Added: Aug 24
Changed: Aug 31
Last Checked: Aug 31 at 8:24AM
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 The Corcoran Group
Investment Insights
Based on property information with market context.
This six-unit apartment property at 541-545 Admiral Callaghan Ln in Vallejo, California, contains approximately 6,600 square feet and was built in 1960. The unit mix includes four approximately 1,000-square-foot two-bedroom, one-bath apartments and two approximately 1,300-square-foot, two-bedroom, one-and-a-half-bath townhome-style units. Five units have undergone substantial renovation, with improvements including quartz countertops, white wood cabinetry, waterproof vinyl flooring, newer appliances, washers and dryers, refreshed bathrooms, and updated finishes. The two-story units also include dishwashers.
Building and site work includes upgraded electrical panels and breakers, newer water heaters, dual-pane windows, driveway and asphalt improvements, drainage work, and refreshed carports. Four of the six units are occupied, while two are vacant. There are no tenant delinquencies, evictions, or pending notices to vacate. Tenants pay PG&E and internet; ownership pays water, sewer, and garbage. Initial six-month leases transition to month-to-month tenancy.
Building and site work includes upgraded electrical panels and breakers, newer water heaters, dual-pane windows, driveway and asphalt improvements, drainage work, and refreshed carports. Four of the six units are occupied, while two are vacant. There are no tenant delinquencies, evictions, or pending notices to vacate. Tenants pay PG&E and internet; ownership pays water, sewer, and garbage. Initial six-month leases transition to month-to-month tenancy.
Key Highlights
- Six‑unit apartment property with approximately 6,600 square feet
- Four approximately 1,000‑square‑foot two‑bedroom units and two approximately 1,300‑square‑foot townhome‑style units
- Five of six units substantially renovated
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
$115,284
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
7.21%
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%
$2,305,680
$2.3M
Cap Rate 7%
$1,646,914
$1.6M
Cap Rate 9%
$1,280,933
$1.3M
Market Conditions
NOI Build-Up for 6,600 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
$220.2K $33.36/SF
− Vacancy
−$10.6K −$1.60/SF
EGI
$209.6K $31.76/SF
− OpEx
−$94.3K −$14.29/SF
NOI
$115.3K $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%
$2,305,680
Cap Rate 7%
$1,646,914
Cap Rate 9%
$1,280,933
Alternative Uses
Best Use
Apartment 5plus
$1.65M
$1.44M – $1.92M
NOI $115,284 @ 7.0% cap · market cap 7.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.21M
$2.81M – $3.75M
NOI $224,849 @ 7.0% cap · market cap 14.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
485
Businesses Nearby
Explore this area
Business Placement
Demographics for 94591, CA
56,305
Population
20,543
Households
2.7
Avg Household Size
42
Median Age
31%
College-Educated
89%
High-School Grad
21.1 sq mi
ZIP Area
2,668
Density / Sq Mi
$107,849
Median Household Income
$50,607
Median Earnings
$2,218
Median Rent
$602,200
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 - Updated interiors include quartz countertops, newer appliances, and refreshed bathrooms.
Where is this apartment building located?
The property is located at 541-545 Admiral Callaghan Ln Vallejo, CA.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Six‑unit apartment property with approximately 6,600 square feet; Four approximately 1,000‑square‑foot two‑bedroom units and two approximately 1,300‑square‑foot townhome‑style units; Five of six units substantially renovated
