720 Shell Ave - Apartments FOR SALE


Martinez, CA 94553- Outer Richmond/Martinez
$16,295,000 USD
510-725-4775
720 Shell Ave, Martinez, CA for Sale
$16,295,000 USD
Apartments - FOR SALE
1/26
null | 5.46% Cap Rate

720 Shell Ave
Martinez, CA 94553
Outer Richmond/Martinez


HIGHLIGHTS

  • Rare Opportunity: Two Assumable Life Insurance Loans w/ 35-Year Amortization, Maturing August 2050, Blended Rate of 4.65%
  • Constructed in 2014 and Features Forty-Two (42) Total Units Including Thirty(30) 1bd/1bth and Twelve (12) 2bd/2bth Units on 1.6 Acres of Land
  • RUBS System in Place - Greatly Minimizing Owner Expenses
  • Amenities Include Granite Countertops, Stainless Steel Appliances, Hardwood Flooring, Recessed Lighting, In-Unit Washer and Dryers, Central A/C
  • Prime Martinez Location - Offers Easy Access to North Concord/Martinez BART Station, Highway 4, and Interstate I-680
  • Community Amenities Include Private Fitness Center, Amazon Package Locker, Private Attached and Detached Garages, Controlled Access, and More

OVERVIEW

Property Tour Schedule: Thursday 3/19 from 11am-1pm & Tuesday 3/24 from 11am-1pm. Email for more info and deal room access. The Pinza Group is pleased to present the Cascara Canyon Apartments at 720-740 Shell Ave in Martinez, CA. This offering features incredible long term fixed rate financing through August of 2050 at a blended 4.65% interest rate. This prime property comprises 42 total units, including 30 1bd/1bth and 12 2bd/2bth units, spread over an expansive 1.6 acres of land. Completed in 2014, it is the first apartment project built in Martinez in over 25 years, boasting a parking ratio of 1.51/1,000 SF, with select units offering tandem two-car garages for added tenant satisfaction. Each features granite countertops, stainless steel appliances, hardwood flooring, custom baseboards, recessed lighting, in-unit washer and dryer, and central heating and air conditioning. The property also offers a suite of community amenities including controlled access, private garage, video patrol, 24-hour access, door-to-door trash pickup, recycling, online services, public transportation, elevator, fitness center, individual locking bedrooms, and private bathrooms.

FOR SALE DETAILS

PRICE

$16,295,000 USD

PRICE/SF

$764 USD /SF

# OF UNITS

42

PRICE/UNIT

$387,976

CAP RATE

5.46%

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Cascara Canyon - Tours: 3/19 & 3/24 11am-1pm

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Manufactured Housing/Mobile Housing, Office/Residential, Dormitory

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2014

PARKING SPACES

65

LAND DETAILS

LAND ACRES

1.61 AC

LAND SF

70,132 SF

ZONING

R-1.5

APN/PARCEL ID

376-010-016-8

ASK ABOUT THIS PROPERTY

Steven PinzaPinza GroupMore Info
510-725-4775

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Steven PinzaPinza GroupMore Info
510-725-4775

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