1127 Virginia Ln, Concord, CA 94520
- $2,500,000
- 6,636
- SqFt
- List Price
- $2,500,000
- Status
- ACTIVE
- MLS#
- 41145960
- Year Built
- 1965
- Property Type
- 5 Or More Units
- Living Area
- 6,636
- Lot Size
- 13,939
- Acres
- 0.32
- County
- Contra Costa
- Subdivision
- Concord
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.
Additional Information
- Appliances
- Disposal, Free-Standing Range, Refrigerator
- Exterior
- Stucco
- Flooring
- Laminate, Partial Carpeting, Vinyl, Engineered Wood
- Laundry Features
- Common Area
- Lot Description
- Rectangular Lot
- Parking Features
- Carports - 2 Or More, Parking Lot, Space Per Unit - 2
- Roof
- Flat
- Water Sewer
- Public
Mortgage Calculator
Listing courtesy of Maurice Carbajal from GCM Realty & Loans. 510-387-7954
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