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709 Pope Dr Vallejo, CA 94591
10,497 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID 41139980
HOA Y/N No
Year Built 1969
Lot Size 10,497 Sqft
Property Sub-Type Quadruplex
Property Description
Exceptional Investment Opportunity. Offered for the first time in many years, this well-maintained fourplex reflects true pride of ownership and represents a rare addition to the market. The property features strong in-place income with rents near current market levels, allowing for immediate and stable cash flow. Offered at an approximate 6.9% capitalization rate, the asset delivers positive cash flow with 30% down, with increased returns as equity investment increases. This property is ideally suited for an investor completing a 1031 exchange, particularly those transitioning from a smaller multifamily asset into a larger, income-producing property. Each unit is separately metered for gas and electricity, minimizing owner expenses. Vallejo does not have local rent control; therefore, the property is subject to California statewide rent control, allowing for annual rent increases of up to 5% plus CPI, providing a clear path for long-term income growth. A compelling opportunity for investors seeking a stable asset with immediate income and built-in upside.
Location
State CA
County Solano
Interior
Heating See Remarks
Cooling See Remarks
Fireplace No
Exterior
Parking Features Covered
Total Parking Spaces 4
Building
Lot Description Front Yard
Others
Tax ID 0072272110
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Listed by John L. Morra CENTURY 21 Masters #01884598