721-735 Mellus St - Apartments FOR SALE


Martinez, CA 94553
$2,400,000 USD
925-988-0502
721-735 Mellus St, Martinez, CA for Sale
$2,400,000 USD
Apartments - FOR SALE
1/35
null | 6.38% Cap Rate

721-735 Mellus St
Martinez, CA 94553


HIGHLIGHTS

  • Add Value Property In Desirable Location
  • Hard to Find Amenities - Mostly Townhouse Units
  • Garages
  • Washers/Dryers
  • Individual Water Heaters
  • Separately Metered PG&E

OVERVIEW

The Mellus/Ferry Apartments located at 721 Mellus Street, Martinez, is a clean, well-located, multi-family property that has been well maintained and represents a rare opportunity to own property in one of the Bay Area’s most desirable locations — Downtown Martinez. The property is minutes away from three BART stations, and walking distance to the shopping, cafes, and coffee shops in Downtown Martinez. The property is also close to Highways I-680, 24 and 4 and provides access to recreational opportunities such as Rankin Aquatic Center, Waterfront Park, Martinez Regional Shoreline, George Miller Regional Trail, Carquinez Straight Regional Shoreline, Briones Regional Park and the Martinez Marina. Martinez is also the County Seat of Contra Costa County and home to three hospitals. The two-story property features uncommon construction details that include raised foundations, low maintenance stucco exteriors, pitched, composition shingle and flat roofs, garages, individual water heaters, washer/dryer hookups and separate meters for gas and electricity. The property has well designed floor plans and a mix of easy to rent units: (8) 1BR / 1BA Townhouses of 564 s.f. +/- (1) 2BR / 1.5BA Townhouse of 678 s.f. +/- (1) Studio of 450 s.f. +/- The complex consists of four buildings that sit on a legal parcel that totals approximately 10,000 s.f. per the Contra Costa County Tax Assessor.

FOR SALE DETAILS

PRICE

$2,400,000 USD

PRICE/SF

$426 USD /SF

# OF UNITS

10

PRICE/UNIT

$240,000

CAP RATE

6.38%

% LEASED

80%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1938

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,019 SF

ZONING

R-50, Martinez

APN/PARCEL ID

372-363-004-6

ASK ABOUT THIS PROPERTY

Shawn WillisIncome Property Services A.G.More Info
925-988-0502

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Shawn WillisIncome Property Services A.G.More Info
925-988-0502

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