Vallejo, CA – The Pinza Group, the leading East Bay Multifamily Sales Brokerage, has announced the sale of the Alabama Apartments in Vallejo.
Steven Pinza, Esq. (2018’s leading multifamily real estate broker according to CoStar) had the exclusive listing agreement and was able to procure a Buyer in a 1031 exchange. The property, located at 601 Alabama Street, sold for $1,310,000 a record price per door for one bedroom units in the city of Vallejo.
The Alabama is well located in Vallejo, just a few minutes away from Highway 37, which allows an easy commute to Marin employment centers, and is also located just a few minutes from direct Ferry service to downtown San Francisco employment. The strategic location ensures a constant demand from tenants and the property has historically operated at or near 100% occupancy.
The unit mix is eight one-bedroom/one bath which are all remodeled with new floors, appliances, paint, bathrooms, kitchens, and updated fixtures. As such, the existing rents at the property have additional upside, giving a new owner the ability to raise rents at the property in the future upon lease expiration. The Alabama boasts numerous features and amenities including a full exterior remodel including fresh paint, seal coated asphalt, new roof, new fencing, and exterior lighting. There are also washer dryer hookups which can increase the monthly revenue.
About The Pinza Group, Inc.
The Pinza Group, Inc was recently named as the 2014, 2015, 2016, and 2017 Top Real Estate Sales Brokerage by CoStar, and is the only privately held investment real estate brokerage to receive the prestigious award in 2014, 2015, 2016, and 2017. The Pinza Group is a full service investment real estate sales firm located in Walnut Creek, California.
Founded in 2013, The Pinza Group is a leader in investment real estate sales with over 125 apartment sales in the last 24 months. The Pinza Group is an investment real estate brokerage built on a strong foundation of integrity, dedication, and experience which allows us to provide significant value to existing and future clients. Since The Pinza Group focuses exclusively on investment real estate, all of our efforts and resources are spent researching, brokering, and underwriting commercial properties in the East Bay. The Pinza Group has devoted significant resources to build an effective list of owners, investors, and brokers in the area which has allowed us to create an innovative marketing platform allowing us to deliver incredible value to both owners and investors. For more information on off market investments, an estimate of value, or for free real estate advice please visit: www.pinzagroup.com or Info@pinzagroup.com