Pinza Group Arranges Sale of 27 Units in Concord

Pinza Group, Concord, Bay Area, Maple Apartments, Contra Costa County

1760DianeCt

Concord, CA – The Pinza Group, Inc, a leading Bay Area Investment Real Estate Sales Brokerage, has announced the sale of the Maple Apartments, a 27 unit apartment building located at 1760 Diane Ct in Concord, CA. This is the Pinza Group’s 15th apartment building sale in Contra Costa County in 2015. The property sold for $2,420,600 with the Buyer paying all commissions outside of escrow.

Steven Pinza, Esq (a 2014 Top Sales Broker according to CoStar), President of the Pinza Group, Inc (a 2014 Top Sales Firm according to CoStar), represented the Buyer in this transaction which was done off market. “The Buyer got a fantastic deal here.” Says Pinza. “The Buyer was able to come in and pay far below market price for a property that could have easily demanded $150,000 per unit on the open market. Instead they paid just under $90,000 per unit.”

The Maple Apartments consists of 26 1bd/1bth units and one 2bd/1bth unit all with dual pane windows, laminate wood floors, tiled kitchens, wall a/c units, and granite counters. The property boasts on site, coin operated laundry new garden area, great upside in rents, and a newer roof. The property was 100% occupied at close of escrow and represented a 10% CAP rate on current numbers.

Analysts predict 94520 values will increase 10.2% next year, compared to a 9.4% rise for Concord as a whole. Among 94520 properties, this property is valued 62.8% more than the midpoint (median) property. The average price per square foot for properties for sale in this area is $277. Foreclosures will be a factor impacting property values in the next several years. In the 94520 market, the number of foreclosures waiting to be sold decreased 62.2% in the last year.

About The Pinza Group, Inc.
Founded in 2013, The Pinza Group is an investment real estate company 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 Northern California. 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. The Pinza Group Property Management, Inc. currently manages over 30 investment properties throughout the East Bay. For more on property management, an estimate of value, or investments visit: www.pinzagroup.com or Info@pinzagroup.com.

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