0.9153
Acre Lot
35 units located at 1321 Santa Clara Street in Vallejo, commonly known as Pointe 38. The subject property consists of approximately 22,925 square feet and a unit mix of twenty-five (25) 1x1 units and ten (10) 2x1 units. The improvements were reportedly built in 1972. The going-in cap rate with 11 vacant units is 4.98%. Upon lease-up of the currently vacant units at $1,525 for the 1x1's and $1,700 for the 2x1's, the cap rate ascends to over 9%. Additionally, the vacant units are fully rehabbed and rent ready creating significant equity growth almost immediately after purchase and lease-up. The subject property as a whole has been renovated with new exterior paint, all new vinyl windows, new laundry machines and all new interiors. The Pointe 38 Apartments presents investors a unique equity growth opportunity with minimal capital outlay.
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The scores below measure the walkability of the address, access to public transit of the area and the convenience of using a bike on a scale of 1-100
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Courtesy: Marc Guillon, Gravitas Commercial Real Estate
Agent License: 01839798