Investment Overview

Franciscan Apartments is a 64-unit apartment community located at 1975 Sereno Drive in Vallejo, California. This garden-style community was built in 1973 and consists of six two-story residential buildings and a single-story building with a leasing office and restrooms for pool guests. Parking is provided by carports and open surface spaces. The improvements are situated on a 2.48-acre site for density of 25 units per acre. The community has 16 studio units that measure 410 square feet, 36 one-bedroom units that are approximately 650 square feet, and 12 two-bedroom units with an average unit size of 800 square feet. The amenities package for Franciscan Apartments includes a swimming pool, laundry facilities, leasing office, BBQ and picnic area, and gated access. Ownership recently made extensive improvements to the property with new exterior paint, major plumbing replacement, sealing and striping the parking lot, and making balcony and walkway repairs required under SB 721.