40 Foster St - Apartments FOR SALE


Martinez, CA 94553- Outer Richmond/Martinez
$1,125,000 USD
925-322-1474
40 Foster St, Martinez, CA for Sale
$1,125,000 USD
Apartments - FOR SALE
1/6
null | Request Cap Rate


HIGHLIGHTS

  • VALUE ADD OPPORTUNITY
  • NEW ROOF & WINDOWS
  • FANTASTIC VIEWS
  • WALK TO DOWNTOWN & PROPOSED MARTINEZ WATERFRONT PROJECT

OVERVIEW

VALUE ADD FOURPLEX OPPORTUNITY NEAR DOWNTOWN MARTINEZ. THE PROPERTY HAS AMAZING VIEWS OF BOTH THE BAY AND THE MARTINEZ VALLEY. CONSISTING OF FOUR TWO-BEDROOM, ONE-BATH APARTMENTS AT ABOUT 828 SF EACH WITH ONSITE COIN-OPERATED LAUNDRY, CARPORT PARKING, NEW WINDOWS & ROOF. NO LOCAL RENT CONTROL CREATES AN EASY REPOSITIONING OPPORTUNITY WITH A FEW INTERIOR UPDATES AND SOME RENT INCREASES ALLOWING FOR A FULL MARKET RENT STABILIZED INVESTMENT QUICKLY AND EVEN SOONER WITH SOME NATURAL TURNOVER. ADDITIONAL UPSIDE IN ANCILLARY INCOME AS WELL WITH OWNED LAUNDRY EQUIPMENT. FANTASTIC VIEW OF CARQUINEZ BAY ON ONE SIDE, AND DOWNTOWN ON THE OTHER. ONE BLOCK FROM RANKIN SWIN CENTER AND PARK.

FOR SALE DETAILS

PRICE

$1,125,000 USD

PRICE/SF

$340 USD /SF

# OF UNITS

4

PRICE/UNIT

$281,250

CAP RATE

Request Cap Rate

% 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

1964

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,554 SF

ZONING

R3, Martinez

APN/PARCEL ID

372-051-015-9

ASK ABOUT THIS PROPERTY

Ted Booras, CCIMUnited Apartment GroupMore Info
925-322-1474

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Ted Booras, CCIMUnited Apartment GroupMore Info
925-322-1474

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