Remodeled 8-Unit Apartment
601 Alabama St VALLEJO Vallejo, CA 94590
601 Alabama St VALLEJO, Vallejo, CA, 94590
$1,495,000
For Sale
$1,495,000
Fully remodeled 8-unit apartment complex with strong rental upside.
Property Size3,480 SF
Price / SF$429.60
Days on Market316
Property Features for 601 Alabama St VALLEJO
General Information
- Standard status
- Active
- Size
- 3,480 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1961
Listing Agency
THE PINZA GROUP, INC
(510) 725-4775
Listed by
DAVID HOWARTH · License #01360348
Source
Corcoran
Added: Sep 5, 2025 Checked: Jul 17 at 2:43 am
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 PINZA GROUP, INC
Investment Insights
Based on property information with market context.
This 8-unit apartment complex is an investment property with current income and rental upside. Built in 1961, the property features eight 1-bedroom, 1-bathroom units and is currently fully occupied. The building provides approximately 3,480 square feet of rental space on a 6,400 square foot lot, with off-street parking available. The interior has been fully remodeled with new kitchens, bathrooms, flooring, and lighting. Exterior upgrades include newer paint, seal-coated asphalt, a new roof, new fencing, and newer exterior lighting. The property is easy to manage and is separately metered for PGE, contributing to low annual operating expenses. Both the interior and exterior are in great condition with no deferred maintenance. The property is near restaurants, coffee shops, and shopping in Downtown Vallejo. It is also a short drive to HWY 37, the Vallejo Marina, and Mare Island.
Key Highlights
- Excellent current income with strong rental upside.
- 100% occupied, providing immediate cash flow.
- Fully remodeled interiors with new kitchens, bathrooms, flooring, and lighting.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $116.1k | $33.36 |
| − Vacancy | −$5.6k | −$1.60 |
| EGI | $110.5k | $31.76 |
| − OpEx | −$49.7k | −$14.29 |
| NOI | $60.8k | $17.47 |
3,480 SF · lease $33.36/SF/yr · vacancy 4.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$868.4K
$759.8K – $1.01M
NOI $60,786 @ 7.0% cap · market cap 4.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.69M
$1.48M – $1.98M
NOI $118,557 @ 7.0% cap · market cap 7.93%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Fully remodeled 8-unit apartment complex with strong rental upside.
Where is this apartment building located?
The property is located at 601 Alabama St VALLEJO Vallejo, CA.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Excellent current income with strong rental upside.; 100% occupied, providing immediate cash flow.; Fully remodeled interiors with **new kitchens, bathrooms, flooring, and lighting.**
