1150 Virginia Ln - Apartments FOR SALE


Concord, CA 94520- Cambridge Park
$5,750,000 USD
310-704-3616
1150 Virginia Ln, Concord, CA for Sale
$5,750,000 USD
Apartments - FOR SALE
1/18
null | Request Cap Rate

1150 Virginia Ln
Concord, CA 94520
Cambridge Park


HIGHLIGHTS

  • 28 unit apartment complex with amenities in Concord
  • Trust sale with specific sale terms
  • utilites include water and trash
  • a/c
  • gross income increased 3 years in a row

OVERVIEW

Trust Sale - Welcome to Pinehaven Apartments is a small community nestled away from main traffic. Units are well cared for with attention to detail. Small/quiet complex.• 28 unit Apartment Complex, Open courtyard,Garden Style Complex, Parking spaces 28 on-site spaces, On site laundry, Pool, Property Manager on site, 24-Hour access, Secure cash flow due to Concord Rent Stabilization passed 4/18/24, Utilities include water & garbage, Small complex nestled away from main traffic,Air Conditioning/Heating Can walk to schools, transportation and shopping. Concord/Pleasant Hill is one of the more affordable submarkets in the East Bay, with an average asking price of $2,200/month. It is also one of the few areas recording positive rent growth, increasing by 0.8% over the past year. Concessions are significant in attracting new residents and will become more important as lease-up begins on the locations still under construction. The outlook of Concord/PleasantHill is relatively stable. Pent-up demand for high-end inventory will likely result in quick lease-up of properties under development. In the interim, net absorption totals will remain muted, as the submarket lacks the available inventory to achieve high demand figures. Specific terms required for sale, contact listing broker for information and property information at Braunco.com

FOR SALE DETAILS

PRICE

$5,750,000 USD

PRICE/SF

$255 USD /SF

# OF UNITS

28

PRICE/UNIT

$205,357

CAP RATE

Request Cap Rate

% LEASED

96%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Pine Haven Apts - Trust Sale

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1968

PARKING SPACES

38

LAND DETAILS

LAND ACRES

0.75 AC

LAND SF

32,670 SF

ZONING

M18, Concord

APN/PARCEL ID

128-210-053-4

ASK ABOUT THIS PROPERTY

Todd WohlBraun InternationalMore Info
310-704-3616

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Todd WohlBraun InternationalMore Info
310-704-3616

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.