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

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

Built in 2014 & Assumable Financing

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.