590 Merchant St St Vacaville, CA 95688

Property Details for 590 Merchant St St

Year built

1936

Lot size

0.04 lot acres

Property size

559 SF

Property type

Commercial real estate

Description

This exceptional investment opportunity encompasses four properties in Vacaville, California, offering a diverse portfolio with significant income potential. The portfolio includes two commercial buildings and two residential units. The first commercial building, located at 590 Merchant Street, is a 758-square-foot retail unit currently leased at $1,704.65 per month, generating a gross annual income of $20,455.80. The lease expires February 28, 2027, and the market rent is $2.84 per square foot. The second commercial building, situated at 630 West Street, comprises 1,300 square feet of retail space, divided into two units. Unit B rents for $1,130 per month and expires August 31, 2024, while Unit C rents for $1,201 per month on a month-to-month basis, expiring December 31, 2028. These units generate a combined annual gross income of $27,972. The market rent for this building is $2.42 per square foot. The residential properties add to the portfolio's strength. A 559-square-foot, one-bedroom, one-bathroom unit at 104 Walnut Street, currently rented at $1,450 per month ($2.42 per square foot) on a month-to-month basis, generates $17,400 in annual gross income. Finally, a completely remodeled 1,222-square-foot, three-bedroom, two-bathroom residence at 624 West Street, commands a monthly rent of $2,600 ($2.13 per square foot), resulting in an annual gross income of $31,200. This lease expires April 30, 2024. The combined annual gross income for all four properties totals $97,027.80. The asking price for the entire portfolio is $1,650,000. This is a rare opportunity to acquire a well-diversified, income-producing portfolio in a desirable location.