1895 San Vincente Dr, Concord, CA 94519
- $5,600,000
- List Price
- $5,600,000
- Status
- ACTIVE
- MLS#
- 41146851
- Year Built
- 1961
- Lot Size
- 28,314
- Acres
- 0.65
- Lot Location
- Street Level
- Days on Market
- 10
- Property Type
- Multifamily
- Property Sub Type
- Apartment
- Neighborhood
- Concord
Property Description
The Driftwood Apartments, a well-maintained 27-unit multifamily property offering a proven value-add strategy and continued rental upside. The property consists of 14 two-bedroom, 8 one-bedroom, and 5 studio units totaling approximately 19,035 SF on a 28,314 SF lot. Ownership has renovated 17 of 27 units with updated kitchens and bathrooms, LVP flooring, LED lighting, dual-pane windows, and upgraded electrical. Renovated units currently achieve significant rental premiums, averaging approximately $593 for two-bedrooms, $504 for one-bedrooms, and $468 for studios. Additional highlights include a 2019 PVC roof replacement, 27 parking spaces, on-site laundry, and a utility recovery program for gas, electricity, water, and trash. With proven renovations, demonstrated rent premiums, and additional units available for future upgrades, The Driftwood Apartments offers investors multiple avenues for continued income and NOI growth.
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Additional Information
- Appliances
- Gas Water Heater, Dryer, Washer
- Heat
- Wall Furnace
- Cooling
- Yes
- Cooling Description
- Wall/Window Unit(s)
- Exterior Construction
- Stucco, Wood Siding
- Roof
- Composition
- Attached Structure
- Detached
- Number Of Units Total
- 27
Listing courtesy of Listing Agent: Ethan Berger (ethan@nainorcal.com) from Listing Office: NAI Northern California.
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