814 York St Vallejo, CA 94590

This charming Victorian-style fourplex, located at 814 York St. in Vallejo, CA, presents a compelling value-add opportunity. The property boasts 2,580 square feet on a spacious 5,850 square foot lot and comprises four units: two one-bedroom/one-bathroom units and two large studio units. Built in 1905, this two-story building offers significant upside potential for investors or owner-occupants. Each unit features individual PG&E meters, allowing for the implementation of a reimbursement utility billing system to minimize expenses. Tenants enjoy a large backyard and off-street parking. The property's exceptional location is a key advantage, situated just 0.4 miles from the San Francisco Bay Ferry, and close to Sonoma Blvd, Interstate 80, I-780, and the Carquinez Bridge, providing easy access to major commuting routes. Its proximity to downtown Vallejo, national retailers, grocery stores, and restaurants further enhances its appeal. The property's location in a vibrant area with high foot traffic from local attractions like Six Flags Discovery Kingdom and Children's Wonderland Park, coupled with Vallejo's status as a populous North Bay city and home to a Naval Port, creates a strong rental market. The asking price is $699,000, representing a price per unit of $174,750 and a price per square foot of $270.93. The property offers a current cap rate of 7.58% and a pro-forma cap rate of 8.14%, with a pro-forma NOI of $56,885. The property is being sold "as is." Minimal deferred maintenance is evident on the exterior. The ample yard space and parking add to the property's desirability.