Multifamily

2170 California St

2170 California St, Concord, CA 94520

Listing Price: $1,300,000

Cap Rate
4.21%
Number of Units
4
GRM
15.16
Occupancy
95.0%
Price/Unit
$325,000
Price/Gross SF
$450.14
Gross SF
2,888

Investment Overview

Marcus & Millichap is pleased to present 2170 California Street, located in the heart of Downtown Concord, California. Built in 1966, this two-story property consists of four well-maintained two-bedroom/one-bathroom units individually metered for gas and electric. The exterior features a pitched composite roof, dual-pane windows, brick skirting, and solar system. Recently renovated units include upgraded countertops, floors, tile showers, ceiling fans, and modern interior walls. All units include heating/air-conditioning wall units, stackable washer/dryer, on-site parking with three covered and one uncovered space, and a shared back patio for tenants.

A new investor has the opportunity to acquire a turnkey asset in an attractive neighborhood with steady cash flow located in the heart of Downtown Concord. In 2018, Concord, California had a population of 129,000 people with a median age of 39 and a median household income of $81,961. Between 2017 and 2018 the population of Concord, California grew from 128,160 to 128,758, a 0.467 percent increase and its median household income grew from $76,500 to $81,961, a 7.14 percent increase.

At the center of Downtown Concord is Todos Santos Plaza, which covers an entire block of the city and is renowned for its farmers market, free summer concerts, and a large number of restaurants around it. Much of the area around Downtown has been recently redeveloped, with new high-density housing and condominium developments taking advantage of the proximity to public transport and the park area. Concord has an all-in-one appeal; it might be a hike to Mt. Diablos summit or a BART ride to San Francisco. In Concord, you will discover a variety of restaurants, live music and nightlife.

Investment Highlights

  • Solar System
  • Turnkey with Steady Cash-Flow Located in Quiet Neighborhood.
  • Rent Growth Potential
  • Short commute to Downtown Walnut Creek
  • Attractive Debt Options Available
  • Minutes from Major Retailers, Eateries, BART Station, Airports, and More

Exclusively Listed By

Listing Price: $1,300,000

Cap Rate
4.21%
Number of Units
4
GRM
15.16
Occupancy
95.0%
Price/Unit
$325,000
Price/Gross SF
$450.14
Gross SF
2,888

Investment Highlights

  • Solar System
  • Turnkey with Steady Cash-Flow Located in Quiet Neighborhood.
  • Rent Growth Potential
  • Short commute to Downtown Walnut Creek
  • Attractive Debt Options Available
  • Minutes from Major Retailers, Eateries, BART Station, Airports, and More

Investment Overview

Marcus & Millichap is pleased to present 2170 California Street, located in the heart of Downtown Concord, California. Built in 1966, this two-story property consists of four well-maintained two-bedroom/one-bathroom units individually metered for gas and electric. The exterior features a pitched composite roof, dual-pane windows, brick skirting, and solar system. Recently renovated units include upgraded countertops, floors, tile showers, ceiling fans, and modern interior walls. All units include heating/air-conditioning wall units, stackable washer/dryer, on-site parking with three covered and one uncovered space, and a shared back patio for tenants.

A new investor has the opportunity to acquire a turnkey asset in an attractive neighborhood with steady cash flow located in the heart of Downtown Concord. In 2018, Concord, California had a population of 129,000 people with a median age of 39 and a median household income of $81,961. Between 2017 and 2018 the population of Concord, California grew from 128,160 to 128,758, a 0.467 percent increase and its median household income grew from $76,500 to $81,961, a 7.14 percent increase.

At the center of Downtown Concord is Todos Santos Plaza, which covers an entire block of the city and is renowned for its farmers market, free summer concerts, and a large number of restaurants around it. Much of the area around Downtown has been recently redeveloped, with new high-density housing and condominium developments taking advantage of the proximity to public transport and the park area. Concord has an all-in-one appeal; it might be a hike to Mt. Diablos summit or a BART ride to San Francisco. In Concord, you will discover a variety of restaurants, live music and nightlife.

Exclusively Listed By

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