505 529 Franklin Street Napa CA 94559 MLS #326042992

Positioned in the vibrant core of Downtown Napa, this exceptional 18-unit multifamily offering presents a rare opportunity to acquire a well-located asset with meaningful upside potential. The property is comprised of three separate parcels and features a highly desirable unit mix of 8-1×1, 1-2×2, and 5-2×1 flats, and 4-2×1.5 townhome-style residences, appealing to a broad tenant base in one of Northern California’s most sought-after rental markets. The asset has benefited from a series of recent capital improvements, providing a strong foundation for future ownership. Upgrades include new roofs on both the main structures and carports (2025), updated electrical subpanels, freshly repaved and restriped parking areas, and new exterior paint, all of which significantly reduce near-term capital expenditure requirements. Tenants enjoy attractive amenities including a central courtyard setting, on-site laundry facilities, dedicated tenant storage (12 units), and a combination of covered and open parking. Eleven units offer private patios, enhancing livability, while twelve units feature original hardwood flooring that adds character and charm. Select units have been renovated with granite countertops and stainless steel appliances including dishwashers, providing a clear path for continued interior upgrades and rental growth. With its walkable location to Downtown Napa’s renowned dining, retail, and entertainment amenities, combined with its proven operational stability and value-add potential, this offering represents an ideal opportunity for investors seeking both current income and long-term appreciation in a premier market.