Concord, CA – The Pinza Group, the leading East Bay Multifamily Sales Brokerage, has announced the sale of an eight unit apartment building-the Desert Palm Apartments located at 1501 Garcez Drive in Concord. Steven Pinza, Esq (the 2014, 2015, & 2016 Top Multifamily Sales Broker in the East Bay according to CoStar), President of The Pinza Group (the 2014, 2015, & 2016 Top Multifamily Sales Brokerage in the East Bay according to CoStar) represented the Buyer and Seller in the transaction. The property sold for $1,840,000, which equates to over a 6% CAP rate on current numbers.
The Desert Palm Apartments represented a unique opportunity to own a pride of ownership eight unit multifamily building located in one of Concord’s best areas. All units are approximately 750 square feet, 2bd/1bth units with patios or balconies. The property was built in 1968 and has low maintenance landscape, a newer roof, ample off street parking, and onsite laundry.
The property is ideally located at the corner of Clayton Road and Garcez Drive in the City of Concord. The property is conveniently located near two shopping centers; Bel Air Shopping Center and Clayton Station Shopping Center, both within a 1.25 mile radius (5 minute drive), while the downtown Todos Santos Plaza are is just over 3 miles away. Within walking distance are many retail businesses such as fast food restaurants, grocery stores, banks and drug retailers. The location also offers excellent access to public transportation, including BART (3.2 miles from the property) and the County Connection bus service, and is half way between two major roads, Treat Boulevard and Ygnacio Valley Road which connect to highway 680 for travel throughout the East Bay.
This property is located in one of the most desirable areas of Concord, conveniently close to public transportation, walking distance to shopping, great schools, and Hayward State College campus. Concord has the largest city population in Contra Costa County, with an educated work force and a dynamic retail environment, making it the premier location.
About The Pinza Group, Inc.
The Pinza Group, Inc was recently named as the 2014 & 2015 & 2016 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. The Pinza Group is a full service investment real estate sales firm located in Walnut Creek, California. 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. For more information on off market investments, an estimate of value, or for free real estate advice please visit: www.pinzagroup.com or Info@pinzagroup.com.