REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Listed by Erich M Reichenbach Marcus & Millichap Real Estate Investment Services, Inc.
$ 2,600,000
Est. payment | /mo
0.85 Acres Lot
$ 2,600,000
Est. payment | /mo
0.85 Acres Lot
Key Details
Property Type Multi-Family
Sub Type 5 or More Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID 326091863
HOA Y/N No
Year Built 1912
Lot Size 0.850 Acres
Acres 0.85
Property Sub-Type 5 or More Units
Property Description
The subject property is a three-parcel, approximately 0.85-acre redevelopment opportunity just two blocks from downtown Calistoga, California. Zoned Community Commercial, the assemblage offers frontage and access along Foothill Boulevard and Pine Street, existing residential income and the potential for mixed-use development in Napa Valley. The property currently includes seven residential units comprising six one-bedroom apartments and one two-bedroom apartment, generating current annual gross scheduled rent of $37,200. This established income stream provides a source of interim cash flow to help offset property taxes, insurance, maintenance and other holding costs while a buyer evaluates development alternatives and pursues entitlements. The existing residential improvements, together with the adjoining vacant parcel, offer flexibility to maintain rental operations while planning a future mixed-use project. This combination of current income and redevelopment potential positions the assemblage as a covered-land investment opportunity. Preliminary development underwriting evaluates 30 residential units and approximately 4,000 square feet of ground-floor commercial space. The site's base residential density of 20 units per acre supports approximately 17 units; the 30-unit scenario assumes additional density through applicable mixed-use provisions and density allocations, subject to City approval. The property is not entitled for this development program. The combined assemblage provides flexibility for building placement, parking, circulation and commercial frontage while allowing fixed development costs to be distributed across a larger project. Existing residential improvements at 912 Foothill Boulevard and 1116 Pine Street provide interim income, complemented by an approximately 0.37-acre vacant development parcel. The preliminary development model projects stabilized annual net operating income of approximately $896,000, indicating a completed-project value of approximately $18.9 million at a 4.75 capitalization rate. These projections are illustrative and depend on final entitlements, development costs, achievable rents and market conditions.
Location
State CA
County Napa
Area Calistoga
Rooms
Basement None
Interior
Heating Individual
Cooling None
Laundry Other
Exterior
Garage Spaces 2.0
Waterfront Description Public,Well
Total Parking Spaces 15
Private Pool No
Building
Lot Description Shape Regular
Sewer Public Sewer
Water Public, Well
Others
Tax ID 011257009000
Special Listing Condition Offer As Is
Copyright 2026 , Bay Area Real Estate Information Services, Inc. All Right Reserved.
NEARBY SCHOOLS & PROPERTIES
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "