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.
DAYS ON MARKET
|
14
|
LAST UPDATED
|
4/26/2024
|
YEAR BUILT
|
1965
|
COMMUNITY
|
Benicia 3
|
GARAGE SPACES
|
8.0
|
COUNTY
|
Solano
|
STATUS
|
Active
|
PROPERTY TYPE(S)
|
Multi Family
|
AIR |
None |
APPLIANCES |
Free-Standing Gas Oven, Free-Standing Gas Range, Free-Standing Refrigerator |
AREA |
Benicia 3 |
CONSTRUCTION |
Wood Siding |
GARAGE |
Attached Garage, Yes |
HEAT |
Wall Furnace |
LOT |
0.5739 acre(s) |
LOT DESCRIPTION |
Corner Lot |
PARKING |
Attached |
SEWER |
Public Sewer |
STORIES |
2 |
STYLE |
Contemporary |
WATER |
Public |
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