534 Allen St - Apartments FOR SALE


Martinez, CA 94553
$965,000 USD
510-725-4775
534 Allen St, Martinez, CA for Sale
$965,000 USD
Apartments - FOR SALE
1/19
null | 4.02% Cap Rate

534 Allen St
Martinez, CA 94553


HIGHLIGHTS

  • Diverse Four Unit Property Comprised of Two 1Bed/1Bath Cottages and a Duplex With One 1Bed/1Bath and One 2Bed/1Bath Unit
  • Corner Lot Offers Direct Street Access and Distinct Addresses for Two Cottages, Enhancing Privacy and Tenant Appeal
  • Four On-Site Garages Provide Significant Income Growth Potential, Either Through ADU Conversion or by Renting to Tenants as Additional Storage Space
  • Located in an Area Free From City Rent Control

OVERVIEW

534-536 Allen Street in Martinez, CA, is a strategically situated four-unit property on a 5,500 SqFt corner lot, enhancing tenant privacy and access. The property's diverse mix comprises two detached 1bed/1bath cottages, each with their own direct street access and exclusive Castro St. addresses, adding a layer of convenience and appeal. Additionally, there is a duplex that includes a 1bd/1bth unit and a larger 2bd/1bth unit. The corner lot also hosts a private gated courtyard and four garages currently utilized as storage, offering significant potential for extra income through ADU conversion or as paid storage facilities. Fully occupied, the property benefits from a stable tenant base while presenting substantial rental growth opportunities, as current rents are over 25% below market rates. This setup not only ensures a steady cash flow but also positions the property for substantial growth in Martinez, a city free from local rent control. Located on the southern shore of the Carquinez Strait in the San Francisco Bay Area, Martinez is celebrated for its unique architecture and historic downtown ambiance. The city's downtown area retains a charming early 20th-century feel, complemented by the Martinez Regional Shoreline, which offers outdoor activities and panoramic views. Additionally, convenient access to I-680 and State Route 4 facilitates easy commuting and travel from Martinez.

FOR SALE DETAILS

PRICE

$965,000 USD

PRICE/SF

$726 USD /SF

# OF UNITS

4

PRICE/UNIT

$241,250

CAP RATE

4.02%

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential, Office/Residential, Dormitory

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1929

PARKING SPACES

1

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,502 SF

ZONING

R3.5, Martinez

APN/PARCEL ID

372-241-003-6

ASK ABOUT THIS PROPERTY

Steven PinzaPinza GroupMore Info
510-725-4775

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Steven PinzaPinza GroupMore Info
510-725-4775

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