Renovated Six-Unit Apartment
For Sale
$1,600,000
541545 Admiral Callaghan Lane, Vallejo, CA 94591
Six-unit apartment property with renovated interiors, townhome-style layouts, and a mix of occupied and available units.
Property Size4,960 SF
Price / SF$322.58
Days on Market21
Property Features for 541545 Admiral Callaghan Lane
General Information
Standard status
Active
Size
4,960 SF
Property subtype
General Commercial
Units
Unit Mix
4 x 2BR/1BA, 2 x 2BR/1.5BA
Multifamily Units
6
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$17,910
Amenities
Window/Wall Unit
Shingle
3 Parking Spaces. Carport.
Building Details
Year Built
1960
Listing Agency:
(650) 578-0200
Listed By:
Corcoran Icon Properties
Source:
Xome
Added: Aug 21
Changed: Sep 9
Last Checked: Sep 10 at 7:04AM
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.
Built in 1960, this six-unit apartment property totals approximately 6,600 SF and includes four two-bedroom, one-bath residences of approximately 1,000 SF each, plus two two-bedroom, 1.5-bath townhome-style units of approximately 1,300 SF each. Five units have received substantial renovations, including quartz countertops, updated cabinetry, waterproof vinyl flooring, newer appliances, refreshed bathrooms, and updated interiors.
Capital work includes upgraded electrical panels and breakers, newer water heaters, dual-pane windows, driveway and asphalt improvements, drainage work, and refreshed carports. Four units are occupied and two are vacant. There are no current delinquencies, evictions, or pending notices to vacate. Tenants pay PG&E and internet, while ownership covers water, sewer, and garbage. Lease terms include both six-month and month-to-month agreements, offering varied expiration timing. The property is located at 541545 Admiral Callaghan Lane in Vallejo, California.
Capital work includes upgraded electrical panels and breakers, newer water heaters, dual-pane windows, driveway and asphalt improvements, drainage work, and refreshed carports. Four units are occupied and two are vacant. There are no current delinquencies, evictions, or pending notices to vacate. Tenants pay PG&E and internet, while ownership covers water, sewer, and garbage. Lease terms include both six-month and month-to-month agreements, offering varied expiration timing. The property is located at 541545 Admiral Callaghan Lane in Vallejo, California.
Key Highlights
- Six units totaling approximately 6,600 SF
- Unit mix includes four 2‑bedroom/1‑bath units and two 2‑bedroom/1.5‑bath 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
$86,638
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
5.41%
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%
$1,732,760
$1.7M
Cap Rate 7%
$1,237,686
$1.2M
Cap Rate 9%
$962,644
$962.6K
Market Conditions
NOI Build-Up for 4,960 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
$165.5K $33.36/SF
− Vacancy
−$7.9K −$1.60/SF
EGI
$157.5K $31.76/SF
− OpEx
−$70.9K −$14.29/SF
NOI
$86.6K $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%
$1,732,760
Cap Rate 7%
$1,237,686
Cap Rate 9%
$962,644
Alternative Uses
Best Use
Apartment 5plus
$1.24M
$1.08M – $1.44M
NOI $86,638 @ 7.0% cap · market cap 5.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.41M
$2.11M – $2.82M
NOI $168,977 @ 7.0% cap · market cap 10.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
360
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 - Six-unit apartment property with renovated interiors, townhome-style layouts, and a mix of occupied and available units.
Where is this apartment building located?
The property is located at 541545 Admiral Callaghan Lane 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 units totaling approximately 6,600 SF; Unit mix includes four 2‑bedroom/1‑bath units and two 2‑bedroom/1.5‑bath townhome‑style units; Five of six units substantially renovated
