1706 Sutter St Vallejo, CA 94590-4427

This exceptional mixed-use investment opportunity presents a five-unit apartment building situated on a sizable 15,514 square foot lot in desirable Vallejo, California. The property, encompassing two buildings and two stories, boasts a total of 15,514 square feet, with 3,154 square feet of net rentable space. The building consists of four one-bedroom, one-bathroom units and one studio unit. Recent renovations in 2024 include new staircases, a new water heater, and significant upgrades to the studio. Three of the five units are currently occupied, with tenants paying all utilities, minimizing operational expenses. One unit is vacant, presenting an immediate opportunity to increase rental income. A significant advantage is the inclusion of a commercial parking lot, historically generating approximately $3,000 per month in passive income. The property is strategically located in an Opportunity Zone, potentially offering tax benefits to investors. The asking price is $1,350,000, representing a compelling price per unit of $270,000 and a current cap rate of 7.12%, with a pro-forma cap rate of 8.00%. The property's strong cash flow, coupled with its prime location and recent renovations, makes it an attractive investment for both seasoned and new investors. The property features separately metered PG&E utilities. The building's address is 1706 Sutter St, Vallejo, CA 94590. This is a truly remarkable opportunity to acquire a well-maintained, high-performing multifamily property with significant upside potential. The property is classified as a Class C, Core investment with a NNN lease type. The building was originally constructed in 1917.