Concord, CA- The Pinza Group, the leading East Bay Multifamily Sales Brokerage and 2018’s Top Multifamily Sales Brokerage in the East Bay according to CoStar, has announced the sale of a 12 unit multifamily property located at 2110 California St in Concord, CA The Pinza Group represented the Buyer and Seller in the transaction, which they sold off market for $2.53MM. The sale represented The Pinza Group’s fifth apartment building sale in Concord in 2019, not including two others currently in escrow.
2110 California St consists of one two story building with 12 1bd/1bth units of approximately 450 square feet. Unit interiors have wall to wall carpet, wall heat, A/C unit, gas stoves and formica counters. Units are separately metered for gas and electricity. The property is a short walking distance to Bart which will allow for the next owner to significantly raise rents immediately upon taking over. The property has a history to little or no vacancies and currently is fully occupied. There is onsite laundry which adds additional income each month. All units are significantly below market in rent, meaning an investor can come in and raise rents to achieve even greater cash flow. The property parking lot has been repaved and re-striped in the last few years. There is lush, mature landscaping throughout the property which creates a tranquil environment that tenants enjoy.
The subject property is ideally located in a residential neighborhood near Todos Santos Square. Local restaurants, bars, and shopping centers are within walking distance to the property. The property has easy access to Interstate 680 and both Highways 242 and 4, allowing tenants to take advantage of the property’s central Contra Costa County location. 2110 California St has a Walk Score of 88 out of 100 thereby allowing access to many pedestrians to all of Concord’s finest attractions.
About The Pinza Group
The Pinza Group, Inc was named as the 2014, 2015, 2016, 2017, and 2018 Top Real Estate Sales Brokerage by CoStar, and is the only privately held investment real estate brokerage to receive the prestigious award in 2014, 2015, 2016, 2017, and 2018.
Founded in 2013, The Pinza Group is a leader in investment real estate sales with over 125 apartment sales in the last 24 months. The Pinza Group is an investment real estate brokerage built on a strong foundation of integrity, dedication, and experience which allows us to provide significant value to existing and future clients. Since The Pinza Group focuses exclusively on investment real estate, all of our efforts and resources are spent researching, brokering, and underwriting commercial properties in the East Bay. The Pinza Group has devoted significant resources to build an effective list of owners, investors, and brokers in the area which has allowed us to create an innovative marketing platform allowing us to deliver incredible value to both owners and investors.