Investment Overview

The Marpel Apartments at 501 Carpenter Street, in Fairfield, CA consists of a sixteen-unit apartment complex, located across from First Baptist Church, and a half-block from Armijo High School. The neighborhood is a mix of single family, multifamily, with various commercial parcels on a quiet tree lined street. The property is situated six-blocks north of the Solano County Courthouse, and County Services buildings. Constructed circa 1954 (per property records) the single-story buildings are of wood frame with stucco and wood siding, with pitched composite roofs, and are built on a spacious 0.64-acre parcel. The parcel is adjacent to a second sister, nearly identical parcel and shares a common driveway. The Marpel Apartments feature attractive mature lawn and tree landscaping, with covered parking to the south of the parcel. The unit mix consists of (13) 1Br/1-Bath apartments, of 500 square foot floorplans, and (3) 2bed/1bath apartments, of 533 square foot floorplans. Unit interiors feature carpeted dining room and bedrooms, luxury vinyl plank kitchen and bathroom flooring, gas stoves, metal cabinets, wall-mount air conditioners, and gas-wall heaters. The property is individually metered for gas and electricity, with on-site laundry.