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Key Details
Sold Price $3,530,000
Property Type Multi-Family
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
Square Footage 14,880 sqft
Price per Sqft $237
MLS Listing ID 324030565
Sold Date 08/07/24
Style Contemporary
Bedrooms 40
Full Baths 3
Half Baths 1
HOA Y/N No
Year Built 1965
Lot Size 0.574 Acres
Acres 0.5739
Property Description
Attractive corner lot 16-Unit contemporary Apartment Complex in a well-established & serene Benicia neighborhood with top-rated amenities including parks, schools, shopping and downtown close by. 1112 6th Street, which consists of 3 freestanding buildings on a .57 Acre lot, with eight 3BD/1BA and eight 2BD/1.5BA units, will be delivered with 5 units vacant at close. 8 of the apartments are 2-level townhouse-style units w/private rear patios, 1.5BAs & a shared front garden. The complex also features parking for most tenants, including 7 covered spots, and a commercial laundry room. Per the public tax records, the property measures 14,880 Sq Ft on the interiors, and is located on a 25,000 Sq Ft lot. The complex has a projected gross annual income in the $389,000 range with a projected Cap Rate in the 5.7% range and upside for the next owners. Last sold in 2020, many of the units have been updated, and the previous owners stated they had completed exterior front-building repairs and updates including new Mansard siding, asphalt-replacement, curb drainage, water main pipes, and 2 new staircases. Excellent location, w/easy access to shopping, dining, parks, schools, public transit and freeway access, should provide an attractive tenant offering for years to come.
Location
State CA
County Solano
Area Benicia 3
Interior
Heating Wall Furnace
Cooling None
Flooring Linoleum, Carpet
Fireplace No
Appliance Free-Standing Refrigerator, Free-Standing Gas Range, Free-Standing Gas Oven
Laundry Common Area
Exterior
Garage Spaces 8.0
Roof Type Composition
Total Parking Spaces 16
Building
Lot Description Corner Lot
Story 2
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public
Architectural Style Contemporary
Level or Stories Two
New Construction No
Schools
School District Solano
Others
Tax ID 0088163200
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Rebecca Brooks
San Francisco Bay Area Team Leader | License ID: 1249870
San Francisco Bay Area Team Leader License ID: 1249870