1506 Garcez Dr - Apartments FOR SALE


Concord, CA 94521- Concord/Pleasant Hill
$3,550,000 USD
1506 Garcez Dr, Concord, CA for Sale
$3,550,000 USD
Apartments - FOR SALE
1/13
null | 6% Cap Rate

1506 Garcez Dr
Concord, CA 94521
Concord/Pleasant Hill


HIGHLIGHTS

  • FANTASTIC CONCORD LOCATION WITHIN WALKING DISTANCE TO SHOPPING & MORE
  • MAJOR CAPITAL IMPROVEMENTS - ROOF, WATER RECIRCULATION SYSTEM, WINDOWS, PATIO DOORS, PIPE HYDRO JETTING SYSTEM, WALL FURNACES & MORE...
  • STRONG RENTAL HISTORY WITH UPDATED APARTMENT INTERIORS

OVERVIEW

1506 Garcez offers a prime investment opportunity with a turnkey, fully occupied 12-unit apartment building located in the heart of Concord. Built in 1960, the two-story wood-frame structure features stucco siding with wood trim and sits on a 12,990-squarefoot lot. The building spans 9,548 square feet and includes 12covered and 6 uncovered off-street parking spaces. Additional income is generated through on-site laundry facilities and a utility reimbursement program, with 8 of the 12 tenants contributing an extra $100 per month to offset water and garbage expenses. The property also features CCTV security cameras and a manager’s storage shed. Well-Maintained Asset with Recent Upgrades • Major capital improvements include updated flooring, kitchens, bathrooms, and new appliances. • Exterior enhancements feature double-pane windows, fresh paint, and a 30-year foam roof installed within the last 3 years. • Hydro Jetting Drain System • Water Saving Recirculating Pump for instant hot water • Water Heater & New Wall Furnaces • New Patio Doors for all Apartments • Remote camera monitoring • All units are separately metered for gas and electricity.

FOR SALE DETAILS

PRICE

$3,550,000 USD

PRICE/SF

$372 USD /SF

# OF UNITS

12

PRICE/UNIT

$295,833

CAP RATE

6%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1960

PARKING SPACES

16

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

12,990 SF

ZONING

M-2, Concord

APN/PARCEL ID

117-180-003-8

ASK ABOUT THIS PROPERTY

Ted Booras, CCIMUnited Apartment GroupMore Info

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Ted Booras, CCIMUnited Apartment GroupMore Info

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