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Listed by Maurice Carbajal, DRE #01415783 • GCM Realty & Loans
$ 2,500,000
Est. payment /mo
New
1127 Virginia Ln Concord, CA 94520
2 Beds
2 Baths
6,636 SqFt
UPDATED:
Key Details
Property Type Multi-Family, Commercial
Sub Type Five or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 6,636 sqft
Price per Sqft $376
MLS Listing ID CC41145960
Bedrooms 2
Year Built 1965
Lot Size 0.320 Acres
Property Sub-Type Five or More Units
Source Contra Costa Association of Realtors
Property Description
1127 Virginia Ln is an 8-unit, 100% occupied multifamily asset in Concord priced at $312,500 per unit. In-place rents average $2,472 per month against $2,650 market rent. The deal trades at a 5.23% in-place cap rate (10.53x GRM). The unit mix is uniform: eight 910-square-foot two-bedroom, two-bath residences, most with updated kitchens and/or bathrooms. Built in 1965, the property sits on a 13,939 SF lot with 6,636 square feet of building and 18 surface parking spaces. The property has direct access to Interstate 680 and proximity to HIghway 242, 4 and 24; the Benicia Bridge, connecting tenants to Orinda, Walnut Creek, Danville and the broader Bay Area. Concord BART is a 10-minute drive, putting San Francisco roughly an hour away by transit. Shopping, entertainment, schools and parks are all nearby.
Location
State CA
County Contra Costa
Area Concord
Interior
Heating Wall Furnace
Cooling Window / Wall Unit
Flooring Laminate, Carpet - Partial, Vinyl
Laundry Community Facility
Exterior
Exterior Feature Stucco
Parking Features Parking Area, Spaces per Unit - >1
Garage Spaces 18.0
Building
Lot Description Regular
Others
Tax ID 128-290-065-1
Special Listing Condition New, Not Applicable
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