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Listed by Brian Baniqued • BCRE
$829,999
Est. payment /mo
6,500 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Subdivision Old Town-523
MLS Listing ID 01-41148291
Year Built 1930
Lot Size 6,500 Sqft
Property Sub-Type Triplex
Source California Regional Multiple Listing Service (CRMLS)
Property Description
Excellent multi-family / residential income investment opportunity in the heart of downtown Vallejo! This 4,269 SF 3-unit mixed-use building at 531-537 Georgia St features 3 fully leased income-generating units at 100% occupancy, offering immediate, stable cash flow with upside potential. Built in 1930 and renovated in 2023, the property has been meticulously maintained with a newer roof (~5 years old), upgraded electrical capacity with PG&E (including new exterior panels), new gutters, and fresh exterior paint. Unit 537 features additional high-value upgrades including new split HVAC, new flooring, and a new electrical subpanel. Zoned DMX (Downtown Mixed Use), the property offers high-density residential and commercial flexibility on a 6,500 SF lot complete with off-street rear parking plus ample street parking. Prime location just half a block from Old Town Vallejo, moments from the Farmers Market, Empress Theatre, and Georgia Street corridor. Current Cap Rate 6.72%, Pro Forma 6.88%. Buyer to verify all measurements, income, expenses, and zoning uses
Location
State CA
County Solano
Interior
Heating See Remarks
Flooring Laminate, Tile
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John R Thompson
Broker/Owner License ID: 01200900
Broker/Owner License ID: 01200900