25-45 W 10th St - Apartments FOR SALE


Pittsburg, CA 94565- Bay Point
$2,350,000 USD
925-588-6402
25-45 W 10th St, Pittsburg, CA for Sale
$2,350,000 USD
Apartments - FOR SALE
1/27
null | 6.04% Cap Rate

25-45 W 10th St
Pittsburg, CA 94565
Bay Point


HIGHLIGHTS

  • Assumable Financing: Outstanding 8.6% cash-on-cash return with a fixed 3.72% interest-only loan, locked in for the next 8 years.
  • Great unit mix: 3 bed/1bath, 2 bed/1bath, 1 bed/1bath, and studios
  • Adjacent parking lot included, providing convenience for tenants
  • Separately metered for PG&E, offering efficiency and control
  • Additional income from on-site laundry facilities
  • Proximity to public transportation and major roadways for convenience

OVERVIEW

SHOWING: THURSDAY, 11/14 & SATURDAY, 11/16, FROM 12 PM TO 1 PM. Dayat Commercial Group is pleased to present 25-45 W. 10th Street in Pittsburg, CA. The property is a well maintained three-story building located within minutes to Downtown Pittsburg and the marina. Built in 1948, the 7,574 square foot building boasts a unit mix of three (3) 3 bed/1 bath units, two (2) 2 bed/1 bath units, three (3) 1 bed/1 bath units, and two (2) studios. Current ownership has renovated five units upon turnover, four of which included extensive value add renovations. Renovated units offer hardwood flooring, two-pane vinyl windows, new paint, and charming original features throughout. Some units have beautiful views of the marina in the distance. The sale includes the adjacent parcel which is a 14 stall parking lot for the property. The property is separately metered for PG&E, and the owner pays for water and garbage. In addition to off-street parking, the property also has onsite laundry, and perimeter fencing. New investors have the opportunity to assume the current financing on the property with a current balance of $1,319,000 at an interest rate of 3.72% with eight years remaining. With this significant reduction from current market interest rates, a new investor can assume the loan and capture a tremendous year 1 cash-on-cash return of 8.6%

FOR SALE DETAILS

PRICE

$2,350,000 USD

PRICE/SF

$310 USD /SF

# OF UNITS

10

PRICE/UNIT

$235,000

CAP RATE

6.04%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

NO CITY RENT CONTROL

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1948

PARKING SPACES

14

LAND DETAILS

LAND ACRES

0.29 AC

LAND SF

12,500 SF

ZONING

R-3, Pittsburg

APN/PARCEL ID

085-201-004-0,085-201-005-7

ASK ABOUT THIS PROPERTY

Monjid AldiyyatBerkshire Hathaway|Drysdale Properties Home SvcMore Info
925-588-6402

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Monjid AldiyyatBerkshire Hathaway|Drysdale Properties Home SvcMore Info
925-588-6402

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