Fairgrounds Dr./ Taper Ave.
acre assemblage
This project is fully entitled and approved for the construction of a 47-unit apartment or condominium development that is estimated to calculate a potential 20%+ IRR.
Thirty-five miles away from the tech capital of the world, a wealth of artists, professionals, and tech workers are flocking to the waterfront area in San Francisco Bay. We at HMV Land Assembly have done our job in discovering an undervalued waterfront property and getting it fully approved for a 47-unit class A multi-family development. We have a realistic architectural rendering from Yes Duffy Architects.
THE OFFERING
We are offering you a profitable investment opportunity that can realize earnings in the next two to three years.The San Francisco Bay Area Waterfront Parcel has been fully entitled and approved for 3 years, so this deal bears zero entitlement risk.HMV Land Assembly will be providing the Architectural Plan, Landscape Designs, Project Entitlements, Marketing Brochure, 3rd Party Feasibility Study, Renderings, and 3rd Party Pro Forma. This reduces your soft cost to almost zero.
With the existing market rates, a strong multi-family operator will likely achieve north of $980,000 in net operating income.A 4-5% cap rate is easily reached in this area. Should you exit in the future, you can profit from a sale price of $19.3 to $22.9 Million.
Property Highlights
• Projected Average Monthly Base Rent per Unit: ±$2,450/Unit/Month
• Located at the intersection of two major roads: Fairgrounds and Whitney
• The City has measured 31,000 vehicles traveling through Fairgrounds Dr. daily
• Entrance to the Interstate-80 Highway is less than a mile away.
• A 4-5% cap rate is commonly achieved in this area.
• Vacancy rates are at the lowest in Vallejo, and SF vacancy rates are rising.
• 3rd party Feasibility Report shows Vallejo climbing to a secure 97.5% occupancy rate (a strong landlord market)
AREA HIGHLIGHTS
• Across the street, you have the 10-acre grassy North Vallejo Community Center with basketball courts, soccer fields, trails, multiple playgrounds, and event rooms.
• Active church next to property.
• Across the street, there are commercial businesses with over 9 different business retail stores and offices.
• The modern and popular Gateway Plaza is only 2-miles away and home to 83 stores and entertainment activities, including Target, Costco, Best Buy, Bed Bath & Beyond, Petco, and Century Theatres.
• Vallejo was in the top-10 Airbnb short-term rental income in the U.S in 2018.
• Oakland International Airport, 39 minutes away
• Six Flags Discovery Kingdom, 5 minutes away
• Solano Fairgrounds, a mile away
• The world-renowned wine region, Napa Valley, 12 miles away
Interested in the Vallejo opportunity?
Please complete this simple form and we will reach out to you promptly.
HMV Land Assembly is a family office investment and development firm that owns significant real estate assets in Nevada, Idaho, and California, and is focused on the ground-up development of various Class-A property types.
© 2022. All Right Reserved. HMV Website.
HMV Land Assembly is a family office investment and development firm that owns significant real estate assets in Nevada, Idaho, and California, and is focused on the ground-up development of various Class-A property types.
© 2022. All Right Reserved. HMV Website.