Multifamily

22 Madison Ave

22 Madison Ave, Bay Point, CA 94565

Listing Price: $730,000

Cap Rate
5.25%
Number of Units
4
GRM
13.24
Occupancy
97.0%
Price/Unit
$182,500
Price/Gross SF
$570.31
Gross SF
1,280

Investment Overview

Marcus & Millichap is pleased to present 22 Madison Avenue in Bay Point, California. Constructed in 1925, this four-unit property is comprised of one studio unit at approximately 320 square feet each, and three one-bedroom/one-bathroom units at approximately 320 square feet each. The buildings have been substantially renovated and have abundant off-street parking at the rear of the property. Additionally, the building exteriors have been refreshed and feature new two-tone exterior paint, security gates, and dual pane windows. The interiors have upgraded flooring, cabinets, vanities, and newer appliances.

The property is located within a few minutes drive to Walgreens, Safeway, Willow Cove Elementary school, Riverview Middle School, Rancho Medanos Junior High School, Delta View Golf Course, Anuta, Seasons, and Hillsdale public parks, and numerous eateries along Willow Pass Road all. Additionally, the location provides tenants with convenient access to highways 4 and 580, and numerous employment centers in Eastern Contra Costa County and the East Bay. Bay Point is one of the last bastions in Eastern Contra Costa County of truly affordable rents relative to most other locations in Alameda and Contra Costa counties. Given its central location 22 Madison will always be sought after by renters seeking affordable work force housing in a supply constrained rental market. A new investor can continue to add value by upgrading interior finishes and pushing rents in line with the surrounding market.

Investment Highlights

  • Upside in the existing rents
  • Convenient access to Bart, employment centers, schools and parks
  • Lowest Priced Four-Plex in Conta Costa County
  • Entry-level work force housing in a supply constrained market

Exclusively Listed By

Listing Price: $730,000

Cap Rate
5.25%
Number of Units
4
GRM
13.24
Occupancy
97.0%
Price/Unit
$182,500
Price/Gross SF
$570.31
Gross SF
1,280

Investment Highlights

  • Upside in the existing rents
  • Convenient access to Bart, employment centers, schools and parks
  • Lowest Priced Four-Plex in Conta Costa County
  • Entry-level work force housing in a supply constrained market

Investment Overview

Marcus & Millichap is pleased to present 22 Madison Avenue in Bay Point, California. Constructed in 1925, this four-unit property is comprised of one studio unit at approximately 320 square feet each, and three one-bedroom/one-bathroom units at approximately 320 square feet each. The buildings have been substantially renovated and have abundant off-street parking at the rear of the property. Additionally, the building exteriors have been refreshed and feature new two-tone exterior paint, security gates, and dual pane windows. The interiors have upgraded flooring, cabinets, vanities, and newer appliances.

The property is located within a few minutes drive to Walgreens, Safeway, Willow Cove Elementary school, Riverview Middle School, Rancho Medanos Junior High School, Delta View Golf Course, Anuta, Seasons, and Hillsdale public parks, and numerous eateries along Willow Pass Road all. Additionally, the location provides tenants with convenient access to highways 4 and 580, and numerous employment centers in Eastern Contra Costa County and the East Bay. Bay Point is one of the last bastions in Eastern Contra Costa County of truly affordable rents relative to most other locations in Alameda and Contra Costa counties. Given its central location 22 Madison will always be sought after by renters seeking affordable work force housing in a supply constrained rental market. A new investor can continue to add value by upgrading interior finishes and pushing rents in line with the surrounding market.

Exclusively Listed By

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