Concord, CA – The Pinza Group announced their third apartment building sale in Concord in as many months: four units located at 1065 Reganti Drive. 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 which Pinza sold for $1,000,000. Although Pinza had the property officially listed, he was able to procure a buyer without having to go to market.
The subject property was a unique opportunity to invest in an affordable property with tremendous rental upside, in the growing, vibrant city of Concord. Each unit is 1bd/1bth and is 100% occupied. Further, the property has a history to little or no vacancies. The property is separate for PG&E, and water, with the owner only paying for garbage. Each unit has washer dryer hookups, a private enclosed garage, and a backyard and/or patio. Similar units are renting for over $1,600+ a month. Further, there is no rent control in Concord, meaning an owner need only give a 60 day notice of a rent increase to obtain market rents.
1065 Reganti Drive has a Walk Score of 68 out of 100. This location is Somewhat Walkable so some errands can be accomplished on foot. The property is located close to public transportation, the 680 Freeway, and shopping. Nearby parks include Cambridge Park, Fairoaks Park and Fairoaks Park. Nearby schools include Meadow Homes Elementary School, Spectrum Center-valley Campus and Ygnacio Valley Elementary School. The closest grocery stores are Montanas, FoodMaxx and Concord Produce Market.