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Home For Sale

Picture of Home For Sale in Benicia, California, United States

$899,000

1036 1st St
Benicia, California, United States

3ba

Listed By: Realtyww Info

Listed On: 04/30/2023

Listing ID: GL10672498 View More Details

Description

Rare mixed-use Victorian Triplex w/two commercial units and one residential on an attractive corner lot in the heart of downtown Benicia. This unique offering, which boasts two free-standing buildings consisting of a charming Duplex w/over-under flats and a 2nd Vintage Building next door, could be the perfect owner-occupied investment hybrid or a solid investment for discerning buyers. The corner building features a 4-rm 2BD/1BA lower-floor flat (1038) that is currently leased at $2, 000.00 per month as an office, and a 5-rm 3BD/1BA flat (1040) on the top floor currently leased at $2, 500.00 to residential tenants. This building also includes a large unfinished basement. The attractive 3-rm Victorian next door (1036), which was likely a 1BD/1BA home in the past, is currently leased at $1, 750 per month to a salon owner. In addition, the parcel includes 2 garages currently leased at $350 per month, a carport, attractive yards for tenant enjoyment and separate utility meters including water. Assuming an approximate gross annual income of $79, 200 and a possible 35% expense ratio, the property may generate $51, 480 in NOI for the next owners, which could equate to a 5.7% cap rate at the current list price. Wonderful downtown Benicia location walking distance to all! Do NOT disturb occupants.

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Listed by: Berkshire Hathaway Homeservices Franciscan Properties
Source: The World Property Journal

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