Mixed-Use

1301-1303-1305 Solano St

1301-1303-1305 Solano St, Corning, CA 96021

Listing Price: $950,000

Cap Rate
10.01%
Number of Units
16
Price/Unit
$59,375
Price/Gross SF
$100.00
Gross SF
9,500

Investment Overview

Marcus & Millichap is pleased to present 1301-1303 Solano Street in Corning, California. This is a three-story building enhanced as a mixed-use apartment and retail complex. Once a hotel, this property is comprised of four studios, seven one-bedroom units, two two-bedroom/one-bathroom units and 2 penthouses. There are two retail units, one is a restaurant and the other is a bar. Located in The House of True Brew Beer and Wine Bar, which is one of the popular community tap houses in the heart of Corning. 1301-1303 Solano Street is an excellent value-add opportunity and offers an investorthe ability to keep serving the community of Corning with some of the best beer and wine in town.

The subject property is situated on 0.22-acre parcel. The property has been owned and operated by the same owner since inception and has maintained incredibly strong occupancy. The current tenants are all month-to-month leases, providing new ownership the opportunity to increase rents and create additional income. Supported by historically strong occupancy and stable tenant base, this opportunity provides an investor with serious upside and long-term appreciation though hands-on management and strategic rent increases.

Investment Highlights

  • Value-Add Opportunity
  • Mixed-use Apartments and Restaurant/Bar
  • Historically String Occupancy and Stable tenant Base
  • Upside on rents

Exclusively Listed By

Listing Price: $950,000

Cap Rate
10.01%
Number of Units
16
Price/Unit
$59,375
Price/Gross SF
$100.00
Gross SF
9,500

Investment Highlights

  • Value-Add Opportunity
  • Mixed-use Apartments and Restaurant/Bar
  • Historically String Occupancy and Stable tenant Base
  • Upside on rents

Investment Overview

Marcus & Millichap is pleased to present 1301-1303 Solano Street in Corning, California. This is a three-story building enhanced as a mixed-use apartment and retail complex. Once a hotel, this property is comprised of four studios, seven one-bedroom units, two two-bedroom/one-bathroom units and 2 penthouses. There are two retail units, one is a restaurant and the other is a bar. Located in The House of True Brew Beer and Wine Bar, which is one of the popular community tap houses in the heart of Corning. 1301-1303 Solano Street is an excellent value-add opportunity and offers an investorthe ability to keep serving the community of Corning with some of the best beer and wine in town.

The subject property is situated on 0.22-acre parcel. The property has been owned and operated by the same owner since inception and has maintained incredibly strong occupancy. The current tenants are all month-to-month leases, providing new ownership the opportunity to increase rents and create additional income. Supported by historically strong occupancy and stable tenant base, this opportunity provides an investor with serious upside and long-term appreciation though hands-on management and strategic rent increases.

Exclusively Listed By

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