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Listed by Ethan Berger, DRE #01868467 • NAI Northern California
$5,600,000
Est. payment /mo
19,035 SqFt
Active
1895 San Vincente Dr Concord, CA 94519
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Key Details
Property Type Multi-Family, Commercial
Sub Type Five or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 19,035 sqft
Price per Sqft $294
MLS Listing ID EB41146851
Year Built 1961
Lot Size 0.650 Acres
Property Sub-Type Five or More Units
Source Bridge MLS
Property Description
The Driftwood Apartments, a well-maintained 27-unit multifamily property offering a proven value-add strategy and continued rental upside. The property consists of 14 two-bedroom, 8 one-bedroom, and 5 studio units totaling approximately 19,035 SF on a 28,314 SF lot. Ownership has renovated 17 of 27 units with updated kitchens and bathrooms, LVP flooring, LED lighting, dual-pane windows, and upgraded electrical. Renovated units currently achieve significant rental premiums, averaging approximately $593 for two-bedrooms, $504 for one-bedrooms, and $468 for studios. Additional highlights include a 2019 PVC roof replacement, 27 parking spaces, on-site laundry, and a utility recovery program for gas, electricity, water, and trash. With proven renovations, demonstrated rent premiums, and additional units available for future upgrades, The Driftwood Apartments offers investors multiple avenues for continued income and NOI growth.
Location
State CA
County Contra Costa
Area Concord
Interior
Heating Wall Furnace
Cooling Window / Wall Unit
Flooring Vinyl
Laundry Washer, Dryer
Exterior
Exterior Feature Stucco, Wood Frame
Parking Features Assigned Spaces, Parking Area
Garage Spaces 27.0
Roof Type Rolled Composition
Building
Lot Description Grade - Level
Water Heater - Gas
Others
Tax ID 114-192-016-3
Special Listing Condition Not Applicable
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