1038 Alabama Street, Vallejo, CA 94590, Vallejo, 94590 - 2 bed, 2 bath
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Vallejo, CA 94590
This Multi-Unit Residential Income Property provides a diversified revenue model with three distinct income streams. Listed at $575,000, the asking price is positioned relative to a $483,721 Fair Market Value, reflecting the property's unique cash-flow configuration. The asset includes two 1-bedroom units and a 600 sq ft rented garage with a separate meter, offering clear ADU conversion potential to drive future ROI. With a Condition Rating of Fair (4) and a strategic location near the SF Ferry, this is a high-utility asset for Buy-and-Hold Investors or Owner-Occupants.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1038 Alabama Street Subject | $575,000* List Price | 2 | 2 | 1,040 | $465 | - |
A 1115 Solano Avenue Sold | $495,000 | 2 | 1 | 0 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1960, this duplex shows a mix of updated and original conditions. While one unit features recent improvements such as LVP flooring and updated countertops, the other unit retains dated elements including an exposed water heater in the kitchen area, older appliances, and a bathroom vanity with visible wear. The reliance on older wall heaters and the overall age of the structure and systems align with a fair condition rating, as it is functional and maintained but requires further modernization.
The property generates three distinct revenue sources from two residential units and a rented 600 sq ft garage, providing immediate cash flow and investment diversification.
The large garage features its own PG&E meter, offering a significant opportunity for conversion into a legal ADU to further maximize rental income and property value.
Ideally situated with quick access to major freeways and the San Francisco Ferry, making it highly attractive to Bay Area commuters.
The local public schools are rated poorly, which may deter long-term family tenants and impact future appreciation compared to higher-rated districts.
With only 1-bedroom, 1-bathroom layouts in both units, the property is restricted to a smaller tenant demographic, potentially leading to higher turnover rates.
3 rents from this property! 2 units and a big garage rented out for a total of 3 incomes! Each unit has 1 bed, 1 bath and there is plenty off street parking at the front of the units! The garage is appr. 600 sq ft with a PG&E meter. It has great potential to be converted to a living area to enhance income, buyers to decide! Units are well maintained! Newer upgrades include new carpet, paint and newer water heater in unit A. Unit B has recently been remodeled. Both units have newer dual pane windows as well. Great central location to freeway and to the S.F Ferry! VIEW AND WRITE OFFER!
No exterior & parking available.
Grades K-5 • 0.5 mi
Grades K-5 • 0.8 mi
Grades K-5 • 2.1 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 4.0 | 40% |
| Baths | 2.0 | 1.5 | 50% |
| Square foot | 1,040 | 1,518 | 20% |
| Lot Size | 7,000 | 4,904.5 | 80% |
| Price | $575.0K | $580.0K | 50% |
| Price per sq ft | $553 | $347 | 90% |
| Built year | 1960 | 1906 | 70% |
| HOA | $0 | $0 | 50% |
| Days on market | 49 | 199 | 10% |
Mar 4, 2026
$575,000
Initial Listing