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$4,250,000
Est. payment /mo
0.7 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID ML82056742
HOA Y/N No
Year Built 1993
Annual Tax Amount $61,771
Lot Size 0.704 Acres
Property Description
Casa Linda Apartments is a rare 1993-built 24-unit multifamily in San Pablo, offered at $4,250,000 ($177,083/unit, $227/SF). Newer construction delivers institutional-quality infrastructure rare for the vintage: a full building fire-sprinkler system, elevator access, all-interior staircases and walkways, and a fully hardwired security camera system. All 24 units are 1BD/1BA with private outdoor space (patio, balcony, or yard). A large gated surface lot serves the property (no tuck-under parking). A ground-floor amenity room offers flexible tenant use or ADU-conversion potential. Priced at an attractive 7.0% current cap rate with strong value-add upside to an 8.67% market cap; GRM of 8.17 current / 7.03 market. Current monthly scheduled rent of $43,329 ($519,948/yr) grows to $50,400 ($604,800/yr) at market. NOI upside comes from light repositioning (paint, landscaping, community-room renovation), rent optimization, RUBS billing, and expanded laundry income. In western Contra Costa County with I-80/I-580 access and proximity to BART, AC Transit, and Amtrak. Strong East Bay rental demand, a housing shortage, proximity to major employers, and significant value-add and ADU potential make 2001 Broadway Avenue a great opportunity for both the cash flow and appreciation-minded investor.
Location
State CA
County Contra Costa
Area 699 - Not Defined
Zoning RMU
Interior
Heating Electric
Cooling None
Fireplace No
Exterior
Roof Type Tar/Gravel,Tile
Building
Water Public
Schools
Elementary Schools Other
Middle Schools Other
High Schools Other
School District Other
Others
Tax ID 413370026
Special Listing Condition Standard
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Listed by Ismael Benhamida Compass #01722847
NEARBY SCHOOL & BUSINESS
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