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Listed by Michael Holcomb W Real Estate
$ 1,550,000
Est. payment | /mo
3,056 SqFt
$ 1,550,000
Est. payment | /mo
3,056 SqFt
Key Details
Property Type Multi-Family
Sub Type 5 or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 3,056 sqft
Price per Sqft $507
MLS Listing ID 326071465
HOA Y/N No
Year Built 1898
Lot Size 9,988 Sqft
Acres 0.2293
Property Sub-Type 5 or More Units
Property Description
W Commercial is pleased to present 2123 2nd Street, an opportunity to acquire a fully occupied, five-unit residential income property in central Napa. The property comprises approximately 3,096 square feet across traditional one- and two-story buildings and features five one-bedroom residences supported by six off-street parking spaces. The property combines established occupancy with meaningful recent capital investment. Unit 3 underwent an extensive renovation and was recently leased at $1,795 per month, while Unit 5 has also received substantial interior and exterior improvements. The remaining residences have been maintained and are occupied by established tenants. Offered at $1,550,000, the property is priced at approximately $310,000 per unit. Illustrative underwriting assumes a 10 percet rent increase for Units 1, 2, 4 and 5, with Unit 3 maintained at its current rent, a 5 percet vacancy and collection-loss factor, and property taxes reassessed at the offering price. Under these assumptions, the property generates approximately $106,970 in annual gross rental income, $67,895 in forecast NOI, and a 4.38 forecast cap rate. The property's manageable five-unit scale, full occupancy, recent improvements, on-site parking, and measured income-growth potential make it well suited for private investors, local multifamily owners, and 1031 exchange buyers seeking a long-term Napa investment. Its central Napa location provides convenient access to Downtown Napa, shopping, dining, public transportation, local services, and regional transportation routes.
Location
State CA
County Napa
Area Napa
Rooms
Basement None
Interior
Cooling Wall Unit(s)
Laundry Common Area
Exterior
Waterfront Description Public
Total Parking Spaces 6
Private Pool No
Building
Lot Description Landscape Back, Sidewalk
Story 2
Sewer Public Sewer
Water Public
Others
Tax ID 002171002000
Special Listing Condition Standard
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