The Pinza Group, Inc, a leading commercial real estate investment firms in the Bay Area with its principal office in Walnut Creek, today announced the sale of a 10-unit apartment building located in Vallejo, CA. The subject property is only a few blocks from Vallejo’s Marina, and each unit has views of the Bay. The asset sold for $1,233,000 after only 14 days on the market.
Steven Pinza, Esq. the President of The Pinza Group, had the exclusive listing to market the property on the behalf of the seller, an individual. The buyer, also an individual, was secured and represented by Steven Pinza, Esq. as well. The property received significant interest, including investors from throughout California. To date, this is one of the highest price per door sales in Vallejo in recent years.
Constructed in 1976, 124 Benson Ave boasts 10 2bd/1bth units. Each unit is approximately 790 square feet, and features gas wall heaters, electric stoves, dishwashers, frost free refrigerators, and a mixture of linoleum flooring and newly carpeted interiors. Each unit is separately metered for gas and electricity thereby ensuring stable expenses for the Owner. Construction is of wood frame with stucco siding, balconies, tar and gravel roofs, and covered parking for each tenant.
The property is in the desirable foothills of Vallejo just off of Highway 29 & 37 and close proximity to Interstate 80. This central location presents an attractive opportunity for a tenant whenever there is a vacancy which keeps vacancy rates on this property incredibly low.
About The Pinza Group, Inc
Founded in 2013, The Pinza Group is an investment real estate company 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 Northern California. 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.