$1,975,000

1516 3rd St Unit 8 Napa, CA 94559

Downtown Napa Neighborhood

Estimated payment $12,882/month

Total Views 1,917
7 Beds
3 Baths
-- Sq Ft
-- Price per Sq Ft

About This Home

Discover a unique investment opportunity with The Lovejoy Mansion, a Stick Eastlake Victorian built between 1885-1887 and later converted into an 8-unit multi-family property in the mid-20th century. This building combines classic architectural character with updated systems, offering both historic charm and practical functionality in the heart of Napa Valley. Modern Systems: Comprehensive 1985 renovation included all-new plumbing, ABS drain lines, full rewiring for electric, phone, and cable, and new gas service all separately metered for each unit. Independent Utilities: Each unit boasts its own gas-fired wall furnace and gas water heater, ensuring individual tenant control and efficient management. Fully Leased: Solid tenant base, including some long-term residents, offering immediate cash flow. Outdoor Space: Shared rear patio area perfect for tenant relaxation. Prime Location: Just a short stroll to vibrant Downtown Napa fine dining, tasting rooms, shops, and entertainment all within reach. Whether you're seeking a stable income-producing asset or looking to add a landmark property to your portfolio, The Lovejoy Mansion represents a rare opportunity to own a slice of Napa's heritage in an unbeatable location.

Listing Agent

Michael Holcomb

W Real Estate License #01458995 Listed on: 05/21/2025

W Real Estate

Co-Listing Agent

Will Lance

W Real Estate License #01931900

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1885

Lot Details

  • 7,588 Sq Ft Lot

Utilities

  • No Cooling
  • Wall Furnace

Community Details

  • 8 Units
  • Gross Income $105,822

Listing and Financial Details

  • Assessor Parcel Number 003-202-008-000

Property Details

Home Type

Multi-Family

Year Built

Built in 1885

Lot Details

0

Listing Details

  • Type: Residential Income
  • Property Sub Type: 5 or More Units
  • Directions To Property: On 3rd St between School and Church St.
  • Lot Size Acres: 0.1742
  • CapRate: 5.40
  • Actual or Scheduled: Actual
  • Special Features: None

Interior Features

  • NumberOfBuildings: 1

Exterior Features

  • Lot Features: Other

Garage/Parking

  • Parking Features: None, See Remarks

Utilities

  • Cooling: None
  • Sewer: Sewer Connected
  • Water Source: Public
  • Heating: Wall Furnace
  • Laundry Features: Other

Association/Amenities

  • Unit: 8

Lot Info

  • Assessor Parcel Number: 003-202-008-000
  • Lot Size Sq Ft: 7588.00

Building Info

  • Year Built: 1885

Multi Family

  • 1 Bedroom Rent Range: $1,500 - $1,595
  • Two Bedroom Rent Range: $1,565 - $1,695
  • Number Of1 Bedrooms Occupied: 3
  • Number of 1 Bedroom Units: 3
  • Number Of2 Bedrooms Occupied: 2
  • Number of 2 Bedroom Units: 2
  • Number of Studio Units: 3
  • NumberOfUnitsTotal: 8
  • Number Studios Occupied: 3

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/21/2025 05/21/25 For Sale $1,975,000 -- --
Source: Bay Area Real Estate Information Services (BAREIS)

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Source: Bay Area Real Estate Information Services (BAREIS)

MLS Number: 325046282

Bay Area Real Estate Information Services (BAREIS)

California Napa County Napa 94559 Downtown Napa

1516 3rd St Unit 8, Napa, CA

This home is located at 1516 3rd St Unit 8, Napa, CA 94559 and is currently priced at $1,975,000. This property was built in 1885. 1516 3rd St Unit 8 is a home located in Napa County with nearby schools including Shearer Elementary School, Redwood Middle School, and Napa High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Bay Area Real Estate Information Services (BAREIS) Listing information deemed reliable but not guaranteed. Copyright 2025 Bay Area Real Estate Information Services, Inc. All Right Reserved.

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Michael Holcomb
Listing Agent
Michael Holcomb
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W Real Estate
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