Investment Overview

The Vaca Villa Apartments at 370 Butcher Road, Vacaville, CA is a two-story of wood frame building with stucco siding, a pitched composite roof, and open parking (asphalt). The property is on a spacious 84,506 square foot parcel with a park-like setting and a well-kept central courtyard. Building exhibits some deferred maintenance, and landscaping needs attention with extensive tree trimming likely required. The property was constructed circa. 1962 with forty-units per public records and a total gross square footage of 28.944. The Vaca Villa unit mix consists of (32) 1Br/1-Bath and (8) 2Br/1-Bath apartments, with selective units having patios over the laundry rooms. Unit interiors feature carpeted dining room and bedrooms, luxury vinyl plank kitchen and bathroom flooring, electric stoves, garbage disposals, ceiling fans, and gas-wall heaters. Some interior electric panels have been upgraded, with older units on fuses and a portion of the upgraded units possessing interior electric panels of circuit breakers (upgraded from fuses). Each unit is separately metered for PG&E, with utility bill-back to tenants in place, thus ensuring predictable steady operations for the new buyer with minimal expenses. The Subject property is in Vacaville, CA in a superior location directly across the street (south) from Hwy 80 and on the edge (east) of Lagoon Valley Park a vast hiking and recreation area. Superior location, on quite tree lined street that dead ends at Lagoon Valley Park the property has an appealing ambiance and setting with attractive landscaping, and ivy-covered central courtyard with a swimming pool and gazebo. Alamo Creek, which occasionally floods, runs North to South directly to the East of the Subject property just over the parcel line, thus flood insurance may be required. The property is surrounded by trees and vegetation and will require outsized landscaping expenses on an ongoing basis. There are multiple overgrown trees, with tree trimming needed in the near term to mitigate potential fire danger.