1315-1337 Brown St - Apartments FOR SALE


Martinez, CA 94553- Outer Richmond/Martinez
$3,450,000 USD
925-588-9740
1315-1337 Brown St, Martinez, CA for Sale
$3,450,000 USD
Apartments - FOR SALE
1/10
null | 6.03% Cap Rate

1315-1337 Brown St
Martinez, CA 94553
Outer Richmond/Martinez


HIGHLIGHTS

  • No City Specific Rent Control Ordinance
  • 100% of units remodeled and updated with high end finishes
  • Full sized washers and dryers for each unit
  • Individual water heaters for each unit
  • Stainless steel appliances including microwave hood, dishwasher, range/oven, and refrigerator
  • New kitchen and bathroom cabinetry, countertops and fixtures

OVERVIEW

Berger & Associates of NAI Northern California is proud to have been chosen as the exclusive listing agent for the Parkside Apartment Homes in Martinez, CA. The Parkside is a true pride of ownership, turn key property. All twelve of the 1-bedroom 1-bathroom units have been completely remodeled with custom home quality finishes including 5-piece stainless steel appliance packages, soft close shaker kitchen cabinetry, new bathroom cabinetry, countertops and fixtures, new lighting throughout, dual pane windows, new exterior doors, and breaker panels. Additionally, every unit features front and rear access, individual water heater, full-sized laundry machines, wood flooring, and is individually metered for PG&E. As a result of the extensive improvements the maintenance and capital improvement costs for the new ownership will be minimal moving forward. The operating costs for the ownership are further reduced by a RUBS program that bills back the tenants for common water usage and trash service. With a history of consistent income generation performance and sustainable affordable rents that are below the 30% of the average household income for the area Parkside is an ideal multifamily investment.

FOR SALE DETAILS

PRICE

$3,450,000 USD

PRICE/SF

$409 USD /SF

# OF UNITS

12

PRICE/UNIT

$287,500

CAP RATE

6.03%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Parkside

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1935

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

13,234 SF

ZONING

R-3, Martinez

APN/PARCEL ID

374-132-010-9

ASK ABOUT THIS PROPERTY

Ethan BergerNAI Northern CaliforniaMore Info
925-588-9740

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Ethan BergerNAI Northern CaliforniaMore Info
925-588-9740

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.