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Listed by GCM Realty & Loans
$ 2,500,000
Est. payment | /mo
6,636 SqFt
$ 2,500,000
Est. payment | /mo
6,636 SqFt
Key Details
Property Type Commercial
Sub Type 5 or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 6,636 sqft
Price per Sqft $376
Subdivision Concord
MLS Listing ID 41145960
HOA Y/N No
Year Built 1965
Lot Size 0.320 Acres
Property Sub-Type 5 or More Units
Source CONTRA COSTA
Property Description
1127 Virginia Ln is an 8-unit, 100% occupied multifamily asset in Concord priced at $312,500 per unit. In-place rents average $2,472 per month against $2,650 market rent. The deal trades at a 5.23% in-place cap rate (10.53x GRM). The unit mix is uniform: eight 910-square-foot two-bedroom, two-bath residences, most with updated kitchens and/or bathrooms. Built in 1965, the property sits on a 13,939 SF lot with 6,636 square feet of building and 18 surface parking spaces. The property has direct access to Interstate 680 and proximity to HIghway 242, 4 and 24; the Benicia Bridge, connecting tenants to Orinda, Walnut Creek, Danville and the broader Bay Area. Concord BART is a 10-minute drive, putting San Francisco roughly an hour away by transit. Shopping, entertainment, schools and parks are all nearby.
Location
State CA
County Contra Costa
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Flooring Laminate, Partial Carpeting, Vinyl, Engineered Wood
Fireplace No
Appliance Disposal, Free-Standing Range, Refrigerator
Laundry Common Area
Building
Lot Description Rectangular Lot
Water Public
Jennifer Seidelman
OR Principal Broker #200602051 & CA Real Estate Broker #01319529
+1(925) 864-2888 | jennifer@jenniferseidelman.com