Residential Income - 1127 Virginia Ln, Concord, CA

$2,500,000

1127 Virginia Ln, Concord, CA

1127 Virginia Ln, Concord, CA 94520 - $2,500,000 · Multi-Family Home for Sale, photo 3

1127 Virginia Ln, Concord, CA 94520 - $2,500,000 · Multi-Family Home for Sale, photo 4

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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.

Property details

Year built

1965

Property type

Residential Income

Lot size

13,939 sqft

Location

1127 Virginia Ln • Concord, CA 94520

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Listed by

Maurice Carbajal · GCM Realty & Loans

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