541-553 Admiral Callaghan Ln Vallejo, CA 94591

Property Details for 541-553 Admiral Callaghan Ln

Year built

1960

Property size

6,600 SF

Property type

Apartment buildings

Description

This exceptional six-unit multifamily investment property, located at 541-553 Admiral Callaghan Lane in Vallejo, California, presents a compelling opportunity. The property, situated on two contiguous parcels totaling 12,918 square feet, comprises four two-bedroom, one-bathroom apartments and two two-bedroom, one-and-a-half-bathroom townhouses. All units are currently leased at near-market rates, generating a substantial net operating income (NOI) of $106,514 (with a pro-forma NOI of $108,725). The property boasts a 6,600 square foot building constructed in 1960, featuring a recently replaced roof (within the last ten years). Each unit includes in-unit laundry, private yards, and tankless water heaters. Select units have undergone recent upgrades, including new flooring, paint, bathrooms, and kitchens. Six on-site parking spaces provide ample accommodation for residents. The property's location offers convenient access to Interstate 80 and the amenities of downtown Vallejo. The asking price is $1,799,000, representing a compelling cap rate of 5.92% (pro-forma 6.04%) and a price per square foot of $272.58. The property is zoned for Residential Medium Density and offers a strong return on investment in a thriving rental market. This stabilized investment is priced below replacement cost, making it an attractive opportunity for discerning investors. The property's strong in-place income, combined with its desirable location and recent upgrades, makes it an ideal addition to any portfolio.