INCOME PROPERTY FOR SALE: 74 UNITS
STATUS:	Sold - March, 1997
ADDRESS:	2900 Redwood Parkway, Vallejo, CA 94591 Cross Street: Skyline
DESCRIPTION:	Nine year old garden apartment complex consisting of eight, two-story buildings on 3.3 acres. The common area features a pool and spa plus an adjacent building for the rental office. There are 36 garages, 37 carports and approximately 69 uncovered parking spaces for a total of 142. All but six are 2br/2ba with balcony or patio, some with fireplaces and vaulted ceilings. All units have washer/dryers, dishwashers, microwaves, European style kitchen cabinetry, generous closet space and outdoor storage areas.
MOTIVATION:	REO
PRICE:	$3,736,000 (net price after $89,000 credit for repairs)
TERMS:	25% down. Seller carried a 1st tied to the 6-month T-bill index plus 2.5%, 30 due in 10 with pre-pay penalty.
VALUE INDICATORS:	GRM: 5.7 Cap Rate: 9.4 Price per unit: $50,486 Price per room: $12,882
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For a complete statement on this property please call or email your request, indicating whether you would like the package sent by mail or fax.