747 3rd Street , A + B

Description

This 1880s historic Victorian multi-unit opportunity offers a healthy 4.473 - 4.819 pct estimated cap rate and strong investment potential. Situated in the Soscol Gateway Neighborhood, neighboring Napa Valley Expo, Fairgrounds, and annual BottleRock musical festival venue, this coveted location is 5 minutes to Downtown Napa's food scene and restaurants, tasting rooms, river front, shopping and more. Zoned RT 5 and permitted as MLT FAM <10; its flexible layout accommodates a variety of uses, including single-family attached and detached units, multiple family apartments, and potentially some live-work housing. The property features 2 structures with 3 units totaling 2,874 sq. ft. (per Napa County) all with private entrances. Unit A is a lower-level unit with 2 BD, 1 BA, and a kitchen; Unit B is an upper-level unit with 3 BD, 1 BA, a kitchen, and a private balcony overlooking 3rd Street, and 700 Lawrence Street is a unit with 1 BD, 1 BA, and a kitchenette. The property has common laundry facilities and 2 common courtyard areas. Each unit is on separate heating and electrical. Water is shared amongst all units. Roof was replaced 5 years ago. On-street parking for all units. Managed by Crown Realty PM. Schedule C tax details available upon request.