121 Lincoln Rd, Vallejo, CA 94590, Vallejo, 94590 - 0 bed, 0 bath
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Vallejo, CA 94590
This 11-Unit Residential Income Asset is listed at $1,595,000, representing a stable acquisition aligned with its $1,528,852 Fair Market Value. Boasting a Good Condition Rating, the property features remodeled interiors and updated kitchens, significantly reducing immediate capital requirements. Investors can leverage the 25% Rental Upside and the Oversized 24,292 Sq Ft Lot, which offers rare potential for future unit development or expansion in a rapidly improving market. This turn-key complex provides a strategic balance of immediate cash flow and long-term appreciation, making it an ideal acquisition for Buy-and-Hold Investors and Portfolio Diversifiers.
Property is move-in ready.
While the property was originally built in 1938, it is classified as 'Good' because it is move-in ready and has undergone significant recent updates. Interior photos show remodeled units featuring new cabinetry, updated wood-look flooring, fresh paint, and modern light fixtures. The property is described as turn-key with well-maintained systems, meeting the criteria for a property that has been extensively renovated to current functional standards.
With current rents approximately 25% below market value, this property offers a substantial opportunity for investors to increase gross income and property valuation through lease adjustments.
The oversized 24,292 square foot lot is a rare asset for an 11-unit complex, providing ample parking and the potential for future expansion or additional unit development.
Many units have been recently remodeled with updated kitchens, bathrooms, and wood flooring, reducing the need for immediate capital expenditures and attracting quality tenants.
Originally constructed in 1938, the property may require higher long-term maintenance for aging utility systems and structural components compared to modern builds.
With 11 units sharing approximately 4,548 square feet of rental space, the average unit size is quite compact, which may limit appeal for tenants seeking more spacious living quarters.
www.121Lincoln.com; 11-unit apartment complex offering excellent current income and solid long-term upside. The units mix offers three 2bd/2bth units, five 1bd/1bth units, and three studio units. The property was originally built in 1938, offers approximately 4,548 square feet of rental space, and sits on an oversized 24,292 square foot lot with ample room for parking and possible future development. Many of the units have been remodeled and offer updated kitchens and bathrooms, wood floors, new cabinets, new tile, new lighting, and fresh paint. The building is easy to manage, with very little maintenance, providing low annual operating expenses. Currently, the property is almost 100% occupied with stable tenants with rents approximately 25% below market providing predictable income and a profitable investment. This is a perfect opportunity for an investor to acquire a turn-key property in a rapidly improving neighborhood with excellent long-term potential.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 3.0 | 38% |
| Baths | 0.0 | 0.5 | 50% |
| Square foot | 4,548 | 1,844.5 | 88% |
| Lot Size | 24,292 | 5,750 | 88% |
| Price | $1.59M | $612.0K | 88% |
| Price per sq ft | $351 | $299 | 63% |
| Built year | 1938 | 1920 | 63% |
| HOA | $0 | $0 | 50% |
| Days on market | 48 | 177 | 13% |
Mar 5, 2026
$1,595,000
Initial Listing
Jul 15, 2020
$1,450,500
Public Record
Apr 18, 2000
$294,000
Public Record