Vallejo Triplex with Rental
For Sale
$749,000
926 Georgia St, Vallejo, CA 94590
Three-unit apartment complex in high-demand rental location.
Property Size3,180 SF
Lot Size0.14 Acres
Price / SF$235.53
Days on Market109
Property Features for 926 Georgia St
General Information
Standard status
Active
Size
3,180 SF
Lot size
0.14 Acres
Property subtype
Investment
Building Details
Year Built
1925
Units
3
Listing Agency:
THE PINZA GROUP, INC
(510) 822-1331
Listed By:
David Howarth · License #01360348
(510) 822-1331
Source:
Elliman
Added: Apr 24
Changed: Aug 8
Last Checked: Aug 10 at 6:55AM
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 three-unit apartment complex features one large two-bedroom, one-bathroom top unit and two one-bedroom, one-bathroom lower units. Built in 1925, the property offers approximately 3,180 square feet of living space on a 6,240 square foot lot. The units have been updated with newer cabinets and countertops, wood floors, stainless steel appliances, custom lighting and molding, and in-unit laundry. The property is separately metered for electric and gas. Parking is available for three cars, and there is a large landscaped backyard. One unit will be delivered vacant at closing. The property is located within walking distance to many restaurants, coffee shops, and grocery stores in the Historic District and a short distance to the Mare Island waterfront and Vallejo marina. The location has a bike score of 23, walk score of 47, and transit score of 32.
Key Highlights
- Strong cash flow with a 5.95% cap rate and 11.82 GRM.
- One unit delivered vacant, ideal for owner‑occupancy.
- Updated units feature newer cabinets, countertops, wood floors, stainless steel appliances, custom lighting, and in‑unit laundry.**
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
$61,845
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
8.26%
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%
$1,236,900
$1.2M
Cap Rate 7%
$883,500
$883.5K
Cap Rate 9%
$687,167
$687.2K
Market Conditions
NOI Build-Up for 3,180 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
$93.5K $29.40/SF
− Vacancy
−$5.1K −$1.62/SF
EGI
$88.3K $27.78/SF
− OpEx
−$26.5K −$8.33/SF
NOI
$61.8K $19.45/SF
Area
Vallejo, CA
Vacancy
5.50%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
30.00%
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%
$1,236,900
Cap Rate 7%
$883,500
Cap Rate 9%
$687,167
Alternative Uses
Best Use
Multifamily LT 5
$883.5K
$773.1K – $1.03M
NOI $61,845 @ 7.0% cap · market cap 8.26%
Second Best
Apartment 5plus
$793.5K
$694.3K – $925.8K
NOI $55,546 @ 7.0% cap · market cap 7.42%
Theoretical Best
Office A
$1.55M
$1.35M – $1.81M
NOI $108,336 @ 7.0% cap · market cap 14.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,784
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit apartment complex in high-demand rental location.
Where is this triplex located?
The property is located at 926 Georgia St Vallejo, CA.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Strong cash flow with a 5.95% cap rate and 11.82 GRM.; One unit delivered vacant, ideal for owner‑occupancy.; Updated units feature newer cabinets, countertops, wood floors, stainless steel appliances, custom lighting, and in‑unit laundry.**
