332 Brown Street, a five-unit property consists of two buildings located in Napa, CA. The property was built in 1978, and features five two-bedroom, one and one-half bathroom units. The building in the rear of the property features three units and the building near Brown street has two units. There are two bedrooms and a bath upstairs. The living room, dining room, kitchen, and half bath are downstairs.
The property is located in a beautiful, tree-lined residential neighborhood and is close to local elementary, middle, and high schools, as well as downtown Napa. Nearby libraries, public transportation, and retailers such as Costco, Target, Home Depot, Safeway, and Whole Foods, add to the desirability of this location for tenants. Overall, this is an easy-to-maintain investment property with rental upside potential.
The owner has managed this property from 50 miles away for the last 21 years with the help of a handyman. And therefore has never paid a management fee; although, one is calculated in the APOD. New ownership has the option to continue to self-manage for a greater return than shown. Over the course of 21 years of ownership, the owner has had less than 10 vacancies, total. One tenant has been on the property for over 21 years! The property requires very little yard work and very little
Three of the five water heaters are covered by Sears warranty or maintenance agreements. Another is months old, and the last is a few years old. The owner loves
low maintenance so the trim is clad in lifetime warranty (transferable) aluminum. Unlike wood, the stucco exterior is low maintenance as well. One of the tenants was also a handyman for small jobs.
The landlord added tile to the bottom floors of four of the five units, with relatively new carpet upstairs. The landlord also replaced all of the kitchen base cabinets. All five kitchens feature stainless steel sinks. Also, all stoves are upgraded to 30-inch. All five refrigerators have been replaced in the last
five years or so. There are washing machine hookups in all units, and some tenants have dryers. Two of the five sliding doors are double pane units. All five of the front doors are modern replacements.
There is tremendous upside potential for this low maintenance property.
Simon RayaREALTOR® | DRE# 01924065
Simon Raya, a Northern California native, grew up in Sonoma County, attending Analy High School before enrolling at Santa Rosa Junior College and transferring to Sacramento State University where he studied Economics with an emphasis in Industrial Organization. A lover of automotive history, mechanical tinkering, and documentary films, Simon has a passion for learning and traveling.